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The Great Britain 1 penny 1902 KM#794.2 XF is a significant coin in British numismatic history, reflecting the economic and cultural context of the early 20th century. Minted during the reign of King Edward VII, this coin is highly valued for its intricate design, historical significance, and the craftsmanship of the Royal Mint. The penny was an essential part of British coinage, widely used for everyday transactions and forming a vital component of the country's monetary system.
The penny has a long history in British currency, dating back to the early medieval period. By the 19th century, it had become an essential denomination, facilitating various transactions and making commerce more manageable. The 1902 penny is part of the bronze coinage introduced in 1860, which replaced the larger copper pennies. This transition reflected advancements in minting technology and the need for more practical coinage during the Victorian era and continuing into the Edwardian era.
The obverse of the 1902 penny features the portrait of King Edward VII, designed by George William de Saulles. This depiction of Edward VII shows the king facing right, with a regal and dignified expression. The inscription "EDWARDVS VII DEI GRA BRITT OMN REX FID DEF IND IMP" surrounds the portrait, which translates to "Edward VII, by the Grace of God, King of all the Britains, Defender of the Faith, Emperor of India." This was the first time Edward VII's portrait appeared on British coinage, marking the beginning of a new era following the long reign of Queen Victoria.
The reverse design of the Great Britain 1 penny 1902 KM#794.2 was created by Leonard Charles Wyon. It features Britannia, the personification of Britain, seated and facing right. Britannia is depicted holding a trident in her left hand and a shield bearing the Union Jack in her right. The word "ONE PENNY" is inscribed above, and the date "1902" is below, flanked by two sea waves, further emphasizing the maritime theme. This design symbolizes Britain's naval power and maritime heritage, which were crucial during the era of the British Empire.
The coin is struck in bronze, a material chosen for its durability and resistance to wear. The bronze composition, consisting of 95% copper, 4% tin, and 1% zinc, provided the coins with a distinctive color and robustness suitable for everyday use. The 1902 penny measures approximately 30.8 millimeters in diameter and weighs around 9.4 grams, making it a substantial and visually appealing coin.
The mintage of the 1902 penny was significant, as it was produced to meet the demands of a growing population and a bustling economy. Although precise mintage figures are not readily available, the coin is relatively common compared to other pennies of the era. Despite the high production numbers, the condition of surviving coins varies, with well-preserved examples being particularly sought after by collectors.
The condition of this specific coin is graded as Extremely Fine (XF), indicating that it has seen minimal circulation and retains most of its original detail. Coins in XF condition show only slight wear on the highest points of the design, with sharp details and a pleasing overall appearance. For collectors, a coin in XF grade represents an excellent balance between affordability and preserving historical detail.
During King Edward VII's reign, the British Empire continued to experience substantial political and economic changes. The penny coinage of this period reflects the technological advancements and artistic achievements of the era. The detailed designs by George William de Saulles and Leonard Charles Wyon showcase the skill and craftsmanship of the Royal Mint, making these coins valuable pieces of history.
Collectors treasure the Great Britain 1 penny 1902 KM#794.2 not only for its numismatic worth but also for its historical significance. Each coin serves as a tangible link to the Edwardian era, offering insights into the social and economic conditions of the time. The penny was a common coin in everyday transactions, making it a direct connection to the lives of ordinary people during the early 20th century.
British coinage has a long tradition of celebrating the nation's history and heritage through detailed and meaningful designs. The 1902 penny is a prime example of this tradition, encapsulating the essence of Edwardian Britain and the values of the era. Its presence in the hands of collectors today helps preserve the legacy of a transformative period in British history.
Great Britain in the early 20th century was a leading global power, driven by advancements in technology and the expansion of its global trade networks. The period was marked by significant developments in industry, science, and culture. The nation's extensive railway network, for instance, facilitated the efficient movement of goods and people, contributing to economic growth and urbanization.
In conclusion, the Great Britain 1 penny 1902 KM#794.2 XF is a remarkable numismatic artifact. Its design, historical context, and condition make it a prized addition to any collection. This coin not only represents a period of significant change and growth in British history but also showcases the enduring legacy of King Edward VII's reign and the artistry of the Royal Mint.