This year we are marking the 50th anniversary of decimalisation in Britain, or “Decimal Day” as it became known, by looking back at some of the most iconic British coins, which ceased to be minted following this momentous day for British coinage.
The farthing had actually stopped being minted fifteen years earlier in 1956, and it ceased to be legal tender in Britain on the 1st January 1961, but continued to be used in certain overseas territories until 1970. In recent memory, the farthing will be remembered for the little wren that adorned the reverse, and here, we take a brief look at its history.
Origin
The farthing began as a small silver coin in the 13th century and its name is derived from the Old English word feorthing meaning “a fourth part”. Prior to 1279, the only coin that was in circulation was the penny, and to form smaller change, the penny was cut into halves or quarters.
In 1279 Edward I brought about a coinage reform that introduced new denominations; the groat (worth four pennies), the halfpenny, and the farthing. The obverse of the farthing showed a forward-facing king surrounded by a Latin inscription, and the reverse was a cross design with three pellets in each quarter.
During the reign of Edward VI, a minimal number of farthings were produced, and its production was eventually halted in 1553.
A Change
No farthing coins were produced during the reigns of Mary and Philip, and production began again during the reign of James I. However, the composition of the coin changed, and it was now made entirely out of copper. The design was changed to a crown and two sceptres on the obverse, and the reverse featured a crowned harp.
In 1672 the design changed again under Charles II and, for the first time ever, Britannia appeared on British coinage. Prior to this she had only appeared on Roman coins. Tin farthings were produced from 1684 in an attempt to aid the Cornish tin industry, however copper farthings were reintroduced by Queen Mary, a decade later in 1694. The copper farthing remained in circulation until 1860.
Modern Times
In 1860, farthings, pennies and halfpennies were all reduced in size and began to be minted in bronze, due to it being more hard wearing. The reverse design of Britannia remained until the last issues of the reign of George V.
In 1937, under the reign of George VI, the design on the reverse was changed from Britannia to an image of a wren, one of Britain’s smallest birds. This design remained until it went out of circulation on 1st January 1960. It remained legal tender however, in the Falkland Islands and its dependencies, and also in the British Antartic Territory, until it ceased to be legal tender on the 31st October 1970.
There were 960 farthings in a pound, and if that is difficult to fathom by modern standards, it may surprise you to know that there were smaller denominations than that. Copper half farthings were used in Britain between 1839 and 1856, and they were a staggering 1920 to the pound. The farthing had survived for over 670 years, and it is still fondly remembered by many.
One of these beautiful and historic little coins can be found in the Britain’s Last Pre-Decimal Final Year-Date Heritage set, which you can view HERE.