Information regarding the new £1 coin
Please be advised that the UK Treasury have launched business and public communications campaigns and have announced that a new pound coin will be introduced on the 28th March 2017 and the current £1 coin will lose its legal tender status on 15th October 2017. There are more details about the new coin issue on the website (www.thenewpoundcoin.com) and also downloadable educational material for businesses and staff.
The new coin has a number of features that make it much more difficult to counterfeit:-
12-sided – its distinctive shape makes it instantly recognisable, even by touch.
Bimetallic – it is made of two metals. The outer ring is gold coloured (nickel-brass) and the inner ring is silver coloured (nickel-plated alloy).
Latent image – it has an image like a hologram that changes from a ‘£’ symbol to the number ‘1’ when the coin is seen from different angles.
Micro-lettering – it has very small lettering on the lower inside rim on both sides of the coin. One pound on the obverse “heads” side and the year of production on the reverse “tails” side, for example 2016 or 2017.
Milled edges – it has grooves on alternate sides.
Hidden high security feature – a high security feature is built into the coin to protect it from counterfeiting in the future.