Obverse Inscription - GEORGIUS III D: G· REX. - GEORGE III BY THE GRACE OF GOD KING
Reverse Inscription - BRITANNIA 1797
During the Reign of George III the transition was made from striking Pennies in silver to using copper instead. The task of designing the new coin went to Matthew Boulton. He was given the task of designing a coin that would be hard to make copies of as their were a large number of fake Pennies in circulation (at the time it was believed to be as much as 40% of what was in circulation). Boulton did not design the Cartwheel Penny himself he employed Conrad Heinrich Küchler to design a coin which would be hard for forgers to fake. The Cartwheel Penny used exactly one Penny's worth of copper in each coin but the price of copper inflated and the Cartwheel Penny could no longer be struck as their was more value in the copper than the face value of the coin.