Coins of England and Great Britain
Decimal Five Pence

Decimal Five Pence
Five Pence's have been struck for Elizabeth II from 1968 to present day, There have so far been seven different types of Five Pence struck. Although Decimalization occurred in 1971 the Five Pence was circulated from 1968 to help familiarize people with the new money before the complete decimalization of the currency in 1971.

New Five Pence Type
The first type was struck from 1968 to 1981 although 1972, 1973, 1974, 1976 and 1981 were issued as proofs only. The right facing portrait was designed by Arnold Machin and the obverse inscription reads "ELIZABETH·II D·G·REG·F·D" followed by the date. The reverse design was by Christopher Ironside, it is of a crowned thistle with the number 5 beneath it. The reverse inscription reads "NEW PENCE". They were struck in cupro nickel and had diameters of 23.59 millimeters and weighed approximately 5.65 grams.
Type 2
The second design was struck from 1982 to 1984, it is identical to the first type in every way except for the reverse inscription which has changed from "NEW PENCE" to "FIVE PENCE" as it was felt there was no longer anything new about the decimal currency any more. The second type was not struck for circulation.
Second Portrait
The third type was struck from 1985 to 1990 but 1985, 1986 and 1990 were not struck for circulation. The reverse is the same as the second reverse type but the obverse has changed. The obverse has been redesigned by Raphael Maklouf to make Elizabeth look slightly older. The obverse inscription still reads "ELIZABETH II D·G·REG·F·D·" followed by the date.
First Small Type
The fourth type was struck from 1990 to 1997 however 1993 was only stuck as proofs. The coin had been made a lot smaller than the previous types which were demonetized on the 31st of December 1990. The Five Pence was still made of a cupro nickel alloy the diameter had shrunk to 18.0 millimeters and the weight had decreased to approximately 3.25 grams. The design of the coin was identical to the previous type just scaled down to fit its new smaller size.
Old Head
The fifth type was struck from 1998 to 2007 however 2005, 2006 and 2007 were only struck as proofs. The reverse was kept the same as the previous type but the portrait was redesigned by Ian Rank-Broadley to show Elizabeth as being elderly. The obverse inscription still reads "ELIZABETH II D G REG F D" followed by the date.
Old Head Part Shield Reverse
The sixth type started being struck in 2008 and is in use still today. The reverse was designed by Matthew Dent and it features a small portion of the Royal Standard Shield with the inscription "FIVE PENCE". The Royal Mint likes his design as it was chosen from other designs in a competition to redesign the reverses of the coinage excluding the two pound coin. The obverse was kept the same as the previous type.
Steel Type
The seventh type started being minted in 2011 and was not released for circulation until 2012. It has the same design as the previous type and is the same diameter and weight. The difference is the material its made from, the Five Pence has been debased from cupro nickel to nickel plated steel as the cost of both copper and nickel has risen. To keep the weight the same the coin has had its thickness increased. The coin is now magnetic.