<Tr> <Th> Designer </Th> <Td> Matthew Dent </Td> </Tr> <Tr> <Th> Design date </Th> <Td> 2008 </Td> </Tr> <P> The British decimal five pence (5p) coin--often pronounced five pee--is a unit of currency equaling five one - hundredths of a pound sterling . Its obverse has featured the profile of Queen Elizabeth II since the coin's introduction on 23rd April 1968, replacing the shilling in preparation for decimalisation in 1971 . A smaller version of the coin was introduced in June 1990 with the older coins being withdrawn on 31st December 1990 . Four different portraits of the Queen have been used, with the latest design by Jody Clark being introduced in 2015 . The second and current reverse, featuring a segment of the Royal Shield, was introduced in 2008 . </P> <P> Five pence and ten pence coins are legal tender only up to the sum of £ 5; this means it is permissible to refuse payment of sums greater than this amount in 5p and 10p coins to settle a debt . </P>

When did the new 5p come into circulation