The New One Pound Coin 12 Sided £1

 

New_1_pound_obverse

 

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.

It will be constructed from two different coloured metals and contain an iSIS security feature – a revolutionary new high security coinage currency system developed by The Royal Mint.

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.…

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