What Is a Farthing? The History of the British Coin

The farthing was a small British coin that played a notable role in the country’s monetary system for centuries. It served as the smallest unit of currency for everyday transactions. Its evolution reflects shifts in British society, royal iconography, and economic needs over time. Understanding the farthing provides insight into historical commerce and the changing landscape of currency.

Defining the Farthing

The farthing’s name originated from the Old English word “feorthing,” meaning “a fourth part.” It was worth one-quarter of a penny, making it the smallest denomination in circulation for many centuries. This was equivalent to 1/960th of a pound sterling. Its primary purpose was to facilitate small transactions and provide change for minor purchases.

Evolution and Usage

The farthing’s history traces back to the 13th century. Before this, pennies were often cut into quarters to create smaller change. The first official round farthing coins, made of silver, were minted under Edward I in 1279 as part of a coinage reform. For centuries, farthings were produced intermittently and in small quantities, due to the high cost of minting tiny coins and their tendency to be easily lost.

The farthing’s composition changed over time. Early issues were silver. By the reign of James I (1603-1625), copper farthings began to be produced under private licenses. The Royal Mint resumed production of copper farthings in 1672 under Charles II. Tin farthings with a central copper plug were minted in the late 17th century, but their susceptibility to corrosion made them unpopular. Bronze became the standard material from 1860, selected for its durability.

Physical Attributes and Design

The farthing’s physical characteristics and designs varied throughout its history, reflecting the reigning monarch and era’s artistic styles. Early silver farthings were very small, with some Edward I issues measuring around 10 millimeters in diameter and weighing just over 0.4 grams. These early coins featured a facing portrait of the monarch on the obverse (front) and a cross design on the reverse (back), often with the minting city’s name.

With the shift to copper in the 17th century, the farthing’s size generally increased. Charles II’s copper farthings, for example, weighed between 5.2 and 6.4 grams and had a diameter of 22–23 millimeters. Britannia, the personification of Great Britain, was introduced on the reverse in 1672, a motif that continued for many years. Monarchs’ portraits adorned the obverse, with inscriptions detailing their titles, such as “VICTORIA DEI GRA BRITT REG F D” for Queen Victoria. In 1937, the image of Britannia was replaced by a wren on the reverse, which remained until the farthing’s discontinuation.

Purchasing Power and Legacy

During its active circulation, the farthing’s purchasing power reflected its small denomination. It could buy minor goods and services, such as a single sweet or a small newspaper. However, its value steadily eroded due to inflation, particularly in the 20th century. By the 1950s, its usefulness significantly diminished, with reports of bus conductors refusing to accept them.

Production of farthings ceased after 1956. The coin was demonetized, losing its legal tender status on January 1, 1961. This discontinuation resulted from its negligible value in a modernizing economy. Despite its practical obsolescence, the farthing retains a cultural legacy, sometimes appearing in phrases to denote something of very little monetary worth, such as “not worth a farthing.”