The name comes from the size of the British coins. Oddly, the penny is the large one. I was stationed there when they transitioned to decimal coins from the old Lsd system.Great old show! Can't even count how many times I've watched it over the years.
I still use the penny-farthing image from the closing credits as my avatar on a few forums I belong to. Yeah, that's what it's called: a penny-farthing.
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Welcome to the forum, Number 6!