The Maundy penny is the smallest denomination of Maundy money - coins specially minted in varying (but always small) mintage for ceremonial purposes and not intended as circulating currency. They are usually handed by the British monarch in person to selected deserving individuals once every year. They are issued in "prooflike" condition and usually remain in it, especially the more recent ones. Each recipient receives two purses: a red one with ordinary coins, and a white purse containing a particular amount (which varies every year) made up of one, two, three and four pence Maundy coins. Since the amounts are not always divisible by ten, the number (and mintage) of the respective denominations differ; in other words, they cannot always all be cleanly combined into a number of full sets. Note also that the coins are initially in purses; the sets that appear on the market are made from these later and are not issued as sets by the Royal Mint.
The Royal Maundy is an ancient ceremony which has its origin in the commandment Christ gave after washing the feet of his disciples on the day before Good Friday. The commandment (also known as a "mandatum" from which the word Maundy is derived) "that ye love one another" (John XIII 34) is still recalled regularly by Christian churches throughout the world. The ceremony of washing the feet of the poor which was accompanied by gifts of food and clothing can be traced back to the fourth century.
Maundy money has remained in much the same form since 1670, and the coins used for the Maundy ceremony have traditionally been struck in sterling silver, save for the brief interruptions of King Henry VIII’s debasement of the coinage and the general change to 50% silver coins in 1920. The sterling silver standard (92.5%) was resumed following the Coinage Act of 1946. The current reverse was designed by Jean Baptiste Merlen in 1822 and has been issued every year since then with only minor modifications.
As there is no record of any denomination higher than one penny (then struck for circulation in silver) being used in the Maundy gift before 1731, sets from before then are most likely ordinary circulation strikes. At that time, coins used for the Maundy money distribution were indistinguishable from those struck for circulation. It was not until 1752 that coins not struck for circulation were used for the Maundy distribution. In a time when little silver was being struck by the Royal Mint, the coins distributed might bear a previous year's date.
To evade statutory prohibitions on the striking of silver coin during the Napoleonic Wars, all Maundy pieces issued from 1800 to 1815 bear the date 1800, though most were struck later. When the date was finally changed in 1816, after the prohibition ended, the size of the coins was slightly reduced, as the Royal Mint implemented a change from striking 62 shillings of silver coin from one troy pound of sterling silver to 66 shillings.The last year in which no Maundy coins were struck was 1821.
In 1689, the Royal Mint began using a design for the reverse of the four low-denomination silver coins depicting a crowned numeral. The designer is unknown (Richard Lobel, in his catalogue of British coins, suggests the artist was George Bower, an employee of the Royal Mint whose medals bear similar characteristics), but his work has endured, in a revised form, for over three hundred years. In 1822 an amended reverse was introduced, and has been struck every year since then in all four denominations.
The 1822 reverse design, which places the crowned numeral within an oak wreath was done by Jean Baptiste Merlen. This design is still struck each year, though the crown was altered in 1888, as was the appearance of the numeral "2" on the twopence. These changes were made by Royal Mint engraver Leonard Charles Wyon. A proposal by the Royal Mint in 1950 to return to the pre-1888 "2" as more artistic was refused by King George VI, who felt the current numeral was stylistically similar to the numerals on the other coins, and the pre-1888 "2" was not.
The original composition of the coins was sterling (0.925) silver. In common with all British silver coins, the fineness was reduced to 0.500 in 1921. In 1947 silver was removed from all circulating British coinage in favour of cupronickel, but as it was felt to be inappropriate to strike Maundy coins in base metal, their fineness was restored to 0.925.
On Decimal Day 15 February 1971, the pound sterling became decimalised, with 100 new pence instead of 20 shillings of 12 pence (240 pence) in a pound. No change was made to the design of the Maundy pieces, and all Maundy pieces, both pre- and post-Decimal Day are deemed denominated in new pence; for earlier coins in the series, see pre-decimal penny (1817 - 1970).
The Maundy pieces continue to use the original obverse design for Queen Elizabeth II by Mary Gillick, although the bust of the Queen on other British coins has been repeatedly replaced as she ages. At the time of decimalisation, the Royal Mint Advisory Commission recommended the retention out of affection for the Gillick design; this was accepted by the Queen. | 
