Penny (Irish decimal coin) from 2002 on its own). Penny (Irish decimal coin) The decimal one penny (1p) () coin was the second smallest denomination of the Irish pound. It was first issued when the Irish currency was decimalised on Decimal Day, 15 February 1971. It was the second of three new designs introduced all in bronze, the others being a half-penny and a two pence coin. All featured ornamental birds designed by Irish artist Gabriel Hayes on the reverse. The coin originally had a diameter of 2.032 centimetres and mass of 3.564 grams consisting of copper, tin and zinc. This was identical to
Coins of the pound sterling (97%), the intrinsic value of pre-1992 1p and 2p coins increased with the surge in metal prices of the mid-2000s, until by 2006 the coins, would, if melted down, have been worth about 50% more than their face value. (To do this, however, would be illegal, and they would have had to be melted in huge quantities to achieve significant gain.) In subsequent years the price of copper fell considerably from these peaks. The following are commemorative issues and are seldom encountered in normal circulation due to their precious metal content. The following decimal coins have been withdrawn from circulation