The British decimal five pence (5p) coin - often pronounced five pee - is a unit of currency equaling five one-hundredths of a pound sterling.
The coin was first issued in 1968 before the currency was decimalised, to circulate in parallel with the one shilling coin it eventually replaced. Its dimensions were the same as those of the shilling, and the shilling remained current after 1970, re-denominated as five new pence.
After a review of the United Kingdom coinage in 1987, the Government announced its intention to issue a smaller 5p coin, which was first issued on 27 June 1990. The original (large) version of the five pence coin was demonetised together with the shilling and replaced by the smaller version, which retained the original design by Christopher Ironside.
The large five pence coins were minted from cupronickel (75% Cu, 25% Ni). Coins issued in 1989 circulated for only one year before being demonetised in 1990.