Soho Mint - Cartwheel Penny

Cartwheel Penny

The common coinage, copper halfpennies, was subject to severe counterfeiting. No copper coinage had been issued by the Royal Mint since 1754 apart from inadequate issues of halfpence in 1770 and farthings in 1791.

In order to differentiate his proposed copper coins from counterfeits Boulton specified them as follows:

twopence

2 ounces weight, diameter 8 to the foot

penny

1 ounce, diameter 17 to two feet

half-penny

1/2 ounce, diameter 10 to a foot

farthing

1/4 ounce, diameter 12 to a foot

Their weight in pure copper should be so close to the intrinsic value of the material that counterfeiting would be uneconomic. The diameter was made strictly defined by striking within a collar so that diameter, thickness and weight could be used to prove the quality of the metal.

In 1797 the first, and only, copper twopenny and the first penny coins were produced under contract although the smaller denominations did not follow until later. These coins were comparatively large, having a broad raised rim with the inscription pressed below the surface and became known as the cartwheel pennies. Over 45 million were minted in two years.