Elizabeth II 3rd portrait; magnetic

This is the 1994 BU issue with a mintage of 177,971. The Elizabeth II 3rd portrait one penny coin, minted in 1992 by the Royal Mint, represents a significant period in British numismatics, particularly due to its high mintage of 3,125,197,389 coins, which reflects the United Kingdom's economic landscape during the early 1990s. This coin features a third portrait of Queen Elizabeth II, designed by Ian Rank-Broadley, which was introduced in 1990 and marked a shift in the portrayal of the monarch, showcasing a more contemporary representation compared to earlier designs. Made from copper plated steel, the coin is magnetic, offering an interesting aspect for collectors who focus on material composition. Despite its lower rarity score of 1 out of 10, the 1992 one penny coin remains a staple for numismatists, as it provides insights into circulation practices and the evolution of coinage during this era, making it a key piece for those studying the modern British coinage series.