1 Penny - Elizabeth II Mace of the House of Assembly

Gibraltar's penny series of this period was produced by the Royal Mint under contract, part of a broader post-1988 transition in which Gibraltar steadily expanded its own distinctive coinage rather than circulating standard UK issues. The territory had used British coinage interchangeably with its own for decades, and the decision to issue locally themed denominations was as much a question of civic identity as monetary practicality.

Bronze plated steel replaced solid bronze across much of British Commonwealth minor coinage during this era as copper commodity prices made the older composition economically unviable.