The New One Pound Coin 12 Sided £1
17th March 2015
Today George Osborne, the Chancellor of the Exchequer, revealed that HM Treasury believes there is a strong case for introducing a new £1 coin to help reduce counterfeiting and ensure the integrity of the United Kingdom’s currency.
The Royal Mint has developed world-leading anti-counterfeiting technology which will enable Her Majesty’s Treasury to modernise the United Kingdom’s circulating currency with the production of a brand new £1 coin.
The Royal Mint has produced a prototype for a replacement £1 coin which utilises multiple layers of cutting edge technology and would allow the United Kingdom to rapidly reduce the rate of counterfeit coins entering general circulation.
The proposed £1 coin will be the most secure circulating coin in the world to date.
A public consultation will be held over the summer focusing on how to manage any impacts before a final decision is made on the precise specification of the new coin, including the metal composition.
The Royal Mint will work closely with key industry stakeholders to conduct a full consultation in order to understand the potential impact for industry.
A public design competition will be held at a later date to choose the design for the reverse, or ‘tails’, of the coin which is expected to be introduced in 2017.
The proposed £1 coin design is distinctly British, with a twelve-sided shape which evokes memories of the pre-decimalisation threepence piece.
iSIS – Integrated Secure Identification Systems – enables not just coins, but the whole cash cycle to be more secure, protecting the public, vending machine operators, retailers, and the wider banking system.…