New pound coin enters production…
The new 12-sided pound coin has gone into production today – a year before it will reach circulating change and the pockets of the public…
The new 12-sided pound coin gone into production today – a year before it will reach circulating change and the palms of keen collectors.
Here's the new £1 coin, designed by 15 year old David Pearce & featuring a symbol from each nation pic.twitter.com/N73BQHmSH7
— George Osborne (@George_Osborne) March 18, 2015
The coins have started rolling off the production line at a rate of more than 4,000 a minute as Chancellor George Osborne announced they will enter circulation in March 2017.
The current £1 will be replaced after more than 30 years due to its vulnerability to counterfeiters – approximately one in every 30 £1 coins in circulation is now a counterfeit. The Government have claimed that the new coin, which was announced at Budget 2014, is going to be the world’s most secure coin in circulation.
When the new coin is introduced, there will be a six-month crossover period when the current round pound coins and the new pound coins are both in circulation at the same time.
While the shape of the new coin will evoke the pre-decimalisation period, it masks cutting-edge anti-forgery technology. The Royal Mint says the new pound will combine three features to make it the most secure coin in the world. It uses two colours of metal, has 12 sides and includes the Royal Mint’s anti-counterfeiting technology, adapted from banknotes and embedded in coins for the first time.
The Royal Mint will work with businesses during the introduction phase of the new coin and an awareness and education campaign is planned to help ensure a smooth transition to launch next year.
To find out more about the new £1 coin and its design – click here
If you’re interested…
You can add a truly vintage British coin to your collection – the very coin that inspired the new £1 coin design – the King George VI Thrup’nny Bit.
I have a 1941 3d Joey . the year i was born. All the old coins had a nick name like a shilling was a bob, 6d was a tanner, 2/6 was half a crown etc. All these names died out with decimal money.
Amazing blog posted. Thank you sharing it.
Can you get one of the new £1 icons yet ?
Not yet David! But keep an eye on our website for news!
as soon as i seen the coints with Queen – i just filling my Mother still a live ….anyway -she was in the same age …but she pust away last february this year…sorry for emocions,,but this staff it,s goood for history
Me and mum thought what happens to parking machines do they have to be replaced or upgraded.
Hi Darren, this is a good question. From recent news articles it seems that most ticket machines will be able to take the new coins after a relatively straightforward software upgrade. However, it is unlikely the coins will be compatible with existing lock mechanisms on supermarket trollys. I expect we will be updated on retailers plans as and when they develop ways to adjust to the new coin.
Hope that helps!
They should make it silver I think like the queen Victoria theepence or like the silver sixspence
as soon as i seen the picture it reminded me of when i was younger when the thrup, nny bit was in circulation.
Exactly what I just said to my grandson, it looks like a thrup’nny bit.