As at 28-March-2012, One British Pound is worth $1.59 USD.
A pound of silver coins is about $500.00
This is due to decimalisation. The first decimal coins were introduced in 1968. The breakdown of currency that phased out around that time had 12 pennies to the shilling, and 20 shillings to the pound. The new 5 pence and 10 pence coins introduced in 1968 held the values of 1 shilling and 2 shillings respectively, resulting in 100 pence to the pound rather than 240. The value of a penny therefore increased at this time.
Queen Elizabeth I, Queen Mary, Queen Anne, Queen Victoria and Queen Elizabeth II have been on the obverse of all British coins during their respective reigns. Britannia has been on the reverse of many different British coins for hundreds of years. Queen Elizabeth the Queen Mother and Princess Diana have been on the reverse of several British coins, and Queen Victoria appeared on the reverse of the 2001 Five Pound coin.
If you're referring to US coins commonly called pennies, the words have always referred to the same coin. It's a holdover from Colonial times when the US used British coins. But in fact, there is no US coin officially called a penny, even though we all use that term. If you want to know the relationship between a British penny and a US cent, the two coins have rarely been worth the same amount due to changes in the exchange rate between the US dollar and the British pound. Ant that doesn't even take into account the fact that the number of pence in a pound was changed from 240 to 100 back in 1971.
All U.S. "pennies" are one-cent coins so a "1 cent penny" is a bit like a "16 ounce pound". Please see the Related Question for more information.
Edge inscription: DECUS ET TUTAMEN ("An ornament and a safeguard" - originally on 17th century coins, this refers to the inscribed edge as a protection against the clipping of precious metal. The original appearance of the phrase is attributed to an epic poem by Virgil - "viro decus et tutamen in armis" (Aeneid, Book V, L. 262), describing a piece of armour, a breast-plate interwoven with gold, which was awarded as a prize to Mnestheus.) Designed byEric Sewell.[6]
"DECUS ET TUTAMEN" is a Latin inscription used on the edge of current British One Pound coin and many older British coins. It translates to "An ornament and a safeguard". These coins are still potentially in circulation so, unless they are part of a Proof or Uncirculated mint set or are individual Proof or Uncirculated coins and in absolute mint condition, they are worth 1 Pound. When precious metals were used to make coins, it was the practice of many to shave or clip the gold or silver from the edge of the coin from where it would be least noticeable. Milling or reeding the edge of a coin or placing an inscription on the edge made the practice more difficult with the added advantage of making a "clipped" coin more readily identifiable. This was a very big deal in the old days since the value of the coin was determined by its weight in the metal it was made from. A One Guinea gold coin weighing a few grams less than it should, was no longer worth One Guinea and vigilant traders would not accept them.
The most common incuse lettering around the edge of a British Pound coin is "DECUS ET TUTAMEN", meaning "An ornament and a safeguard". It refers to safeguarding the coin from having "precious" metal shaved from the edge.
The British nickel-brass One Pound coin featuring the Royal Arms design on the reverse was minted for general circulation in 1983, 1993, 1998 and 2003. All issues of these coins have "DECUS ET TUTAMEN" inscribed on the edge. The only "gold" coin struck with this design was in 2008 as "Proof in gold FDC". Only 3,000 were minted.
There is a variety of different inscriptions around the edge of British One Pound coins. The most common seems to be "DECUS ET TUTAMEN" which translates as "An ornament and a safeguard".
These coins are still potentially in circulation so, unless they are part of a Proof or uncirculated mint set or are individual Proof or uncirculated coins and in absolute mint condition, they are worth One Pound. A British 1993 nickel-brass One Pound coin (QE II)(Royal Arms design - edge "DECUS ET TUTAMEN"), uncirculated and in absolute mint condition could fetch up to £5 GBP. A British 1993 nickel-brass One Pound coin (QE II)(Royal Arms design - edge "DECUS ET TUTAMEN")(Proof FDC), uncirculated and in absolute mint condition could fetch up to £6 GBP. A British 1993 One Pound coin (QE II)(Royal Arms design - edge "DECUS ET TUTAMEN")(Proof in silver FDC), uncirculated and in absolute mint condition could fetch up to £30 GBP. A British 1993 One Pound coin (QE II)(Royal Arms design - edge "DECUS ET TUTAMEN")(Proof piedfort in silver FDC), uncirculated and in absolute mint condition could fetch up to £45 GBP. A reputable coin dealer will be able to give a more accurate valuation.
These coins are still potentially in circulation so, unless they are part of a Proof or uncirculated mint set or are individual Proof or uncirculated coins and in absolute mint condition, they are worth One Pound. A British 1983 nickel-brass One Pound coin (Elizabeth II)(Royal Arms design - edge = "DECUS ET TUTAMEN"), uncirculated and in absolute mint condition could fetch up to £5 GBP. A British 1983 nickel-brass One Pound coin (Elizabeth II)(Royal Arms design - edge = "DECUS ET TUTAMEN")(specimen in presentation folder), in absolute mint condition could fetch up to £5 GBP. A British 1983 nickel-brass One Pound coin (Elizabeth II)(Royal Arms design - edge = "DECUS ET TUTAMEN")(Proof FDC), could fetch up to £5 GBP. A British 1983 One Pound coin (Elizabeth II)(Royal Arms design - edge = "DECUS ET TUTAMEN")(Proof in silver FDC), could fetch up to £35 GBP. A British 1983 One Pound coin (Elizabeth II)(Royal Arms design - edge = "DECUS ET TUTAMEN")(Proof piedfort in silver FDC), could fetch up to £125 GBP. A reputable coin dealer will be able to give a more accurate valuation.
All years of issue of the British One Pound coin are still potentially in circulation so, unless they are part of a Proof or Uncirculated mint set or are individual Proof or Uncirculated coins and in absolute mint condition, they are worth One Pound.
Bi-metallic Two Pound coins were not issued into circulation until 1997. The was a very limited production run in 1994 as a test of the production process and for assessment purposes. The "centre" is made from 25% nickel and 75% copper, the "outer" ring is made from 76% copper, 20% zinc and 4% nickel. The reverse inscription reads "ROYAL MINT TRIAL 1994". The edge inscription reads similarly to the One Pound coin "DECUS ET TUTAMEN ANNO REGNI XLVI", meaning "An ornament and a safeguard - in the 46th year of her reign". These coins should never have made it outside the Royal Mint. If you have one, you possibly have a coin of some collector value. Coin catalogues make no mention of it. A reputable coin dealer may be able to give a valuation. The mono-metallic Two Pound was produced as usual.
A British 2008 Penny (Proof FDC), uncirculated and in absolute mint condition could fetch up to £3 GBP. A reputable coin dealer will be able to give a more accurate valuation. These coins are still in circulation so, unless they are part of a proof set or are uncirculated and in absolute mint condition, they are worth 1 Penny.
From 1969, the Australian 50 cent coin, when it was reintroduced, had 12 sides so that there was a good visual distinction between the 50 cent, and the 3mm smaller 20 cent coins, and you could also feel the difference between the two coins.
The One Pound coin replaced the One Pound note in the British currency in 1983. Pound coins include the One Pound and Two Pound coins, and the Five Pound coin which is issued as a commemorative but is still legal tender.