Introduction: A Penny That Traveled the Empire
In the world of numismatics, the 1918 One Penny coin featuring King George V stands as a significant relic from the final years of World War I. Though minted in the millions, certain subtle details—such as mint marks and striking anomalies—make this otherwise common copper coin a treasure trove for serious collectors.
This coin marks an era when Great Britain and its colonies, including Australia and India, were undergoing enormous political and economic change. As Britain expanded minting to branch mints in Australia and India to meet wartime currency demand, the 1918 penny became one of the first British coins ever produced outside of the UK. This led to multiple varieties—some quite rare and valuable.
In 1918, Britain authorized the Bombay Mint in India to strike pennies for the first time. These coins bear a tiny “I” mintmark and are highly prized today.
This guide covers everything a dedicated collector needs to know about the 1918 One Penny Georgivs V coin: values across grades, mint mark varieties, known errors, die diagnostics, preservation strategies, and buying or selling insights.
Coin Identification and Specifications
- Obverse Design: Effigy of King George V, legend: GEORGIVS V D.G.BRITT:OMN:REX F.D.IND:IMP.
- Reverse Design: Britannia seated, holding trident and shield, with “ONE PENNY” and the date “1918”
- Designer: Bertram Mackennal (obverse), Leonard Charles Wyon (reverse)
Physical Characteristics:
| Attribute | Specification |
|---|---|
| Metal | Bronze (95.5% copper, 3% tin, 1.5% zinc) |
| Diameter | 30.8 mm |
| Weight | 9.45 grams (± tolerance) |
| Edge | Plain |
| Shape | Round |
| Strike Type | Business strike (machine-pressed) |
Coins were struck using hardened steel dies and high-pressure screw presses. Due to the wear of wartime minting equipment and rushed production schedules, weak strikes and flawed dies were not uncommon—leading to several collectible errors.
Mintage and Historical Context
The year 1918 is unique for British pennies because it saw production from three different mints:
| Mint | Mint Mark | Mintage Estimate |
|---|---|---|
| Royal Mint (London) | None | ~110 million |
| Heaton Mint (Birmingham) | “H” | ~11 million |
| Bombay Mint (India) | “I” | ~1.2 million |
Why Did Minting Expand in 1918?
Due to World War I, the Royal Mint faced labor shortages and equipment wear. To keep up with circulating coin demand across the Empire, it outsourced production to Birmingham’s Heaton Mint and, for the first time, the Bombay Mint.
Did You Know? The “I” mintmark 1918 penny is considered the first British coin minted in India, predating independent Indian coinage by nearly three decades.
Among these, the 1918 “I” penny is the scarcest and most sought after, particularly in high grades. Many were used in harsh climates and melted later, reducing surviving numbers.
1918 Penny Mint Mark Varieties
There are three main types of 1918 pennies, each defined by their mint mark:
1. 1918 No Mintmark (London)
The standard type. While common in lower grades, higher-grade examples (MS63 and above) are scarce due to wartime circulation.
2. 1918 H (Heaton Mint)
Look for a small “H” beneath the date on the reverse. While not rare, fewer exist in top condition due to hurried production quality.
3. 1918 I (Bombay Mint)
Identified by an “I” under the date. These are much rarer and were often poorly struck. Finding one in EF or better is a challenge.
Many fake 1918 “I” pennies exist—always authenticate the mint mark location and die characteristics before purchasing.
Known Errors and Die Varieties
The 1918 One Penny coin features several known error types, especially from the branch mints. Here are the most notable:
Die Cracks and Cuds
Due to overuse of dies, some 1918 pennies display raised lines (die cracks) or blobs of metal (cuds) near Britannia or the legend. While often minor, significant cuds attract collectors.
Off-Center Strikes
Occasionally, coins were struck slightly off-center, resulting in uneven rims or missing portions of the design. These are scarce and can add considerable value depending on severity.
Double Strikes
Some 1918 pennies were struck twice in the press, creating a faint double image of Britannia or the King’s portrait.
Weak Strike or Ghosting
The reverse image may appear faint due to die wear or overpolishing. In extreme cases, the King’s portrait can be faintly visible behind Britannia—a known ghosting effect.
Mintmark Anomalies
Rare varieties include misplaced or partial H/I mintmarks, likely due to clogged dies or inconsistent engraving. These are extremely rare and valuable.
A 1918 “I” penny with strong detail and no wear sold for over £4,000 at auction in 2023, a record for this mintmark.
Grading Guide and Value by Condition
The value of a 1918 penny depends heavily on both grade and mintmark. Here’s an estimated value chart (in USD) for each type:
| Grade | 1918 (No Mark) | 1918 H | 1918 I |
|---|---|---|---|
| G-4 | $1 | $2 | $15 |
| VG-8 | $2 | $4 | $25 |
| F-12 | $3 | $8 | $40 |
| VF-20 | $8 | $15 | $75 |
| EF-40 | $15 | $35 | $150 |
| AU-50 | $30 | $60 | $300 |
| MS-63 | $80 | $130 | $1,200 |
| MS-65 | $150 | $275 | $3,000+ |
Note: Prices fluctuate based on market demand and auction sales. Uncleaned and problem-free coins always fetch higher premiums.
Authentication Tips
Die Marker Checks
- H mint: Mintmark is crisp and evenly spaced beneath the date.
- I mint: “I” is typically thinner and more deeply struck than “H.” Look for faint vertical stroke directly below the final “8.”
Watch for Counterfeits
- Many fake 1918 “I” pennies are altered from common London-mint coins. Look for unusual spacing, tooling marks, or incorrect font on the mintmark.
Pro Tip: If you’re investing in a high-grade or rare variety, have the coin authenticated by a reputable third-party grading service like PCGS or NGC.
Collecting and Preservation
The 1918 One Penny is an ideal coin for both new and advanced collectors. With mint mark varieties, multiple error types, and accessible low-grade options, it offers something for every budget.
Storage Tips
- Use acid-free holders or Mylar flips.
- Avoid PVC coin pages—plasticizers can damage bronze over time.
- Store in a cool, dry area to prevent verdigris (green corrosion).
Bronze coins like the 1918 penny are especially susceptible to fingerprint oils. Always handle them by the edge with gloves or tongs.
Where to Find or Sell 1918 Pennies
Acquisition
- Online Auctions: eBay, Heritage Auctions, Noble Numismatics (Australia)
- Coin Shows & Dealers: Ask for mint-marked varieties specifically
- Roll Hunting: Rare, but some might appear in mixed penny lots
Selling
- If raw, provide sharp photos of obverse, reverse, and mint mark.
- High-grade examples or rare “I” mint coins should be sold via auction for best exposure.
Frequently Asked Questions
Q: Is the 1918 “H” penny rare?
No, but it’s less common than the no-mintmark version and more desirable in high grade.
Q: How can I tell if my penny is the Bombay mint version?
Look for a small “I” directly under the date on the reverse. The style of the letter and its spacing from the numerals is key.
Q: Are 1918 pennies made of copper?
They’re made of bronze—a mix of copper, tin, and zinc.
Q: Can I clean my 1918 penny to improve its look?
No. Cleaning severely reduces numismatic value. Collectors prefer original surfaces, even if darkened.
Final Thoughts
The 1918 One Penny Georgivs V coin is a historic, affordable, and richly varied issue that rewards detailed study. Whether you’re chasing a rare Bombay mint example or cataloging different die errors, this penny offers educational and investment value in equal measure. Its place in the final days of World War I and its expansion to international mints make it one of the most fascinating copper coins of the 20th century.