With the phased introduction of polymer notes in 2016, we now we can look forward this year to the redesigned £1 coin!
According to the Royal Mint it is estimated that 1 in 30 coins currently in circulation are counterfeit and that the new design will be harder to reproduce.
Along with an undisclosed security feature, the new coins include:
• A distinctive 12 sided shape (Dodecagon)
• Grooved edges on alternate sides
• Micro lettering along the rim of the heads side
• Constructed of two different metals; an outer gold coloured ring of nickel- brass and a silver-coloured inner ring of nickel plated alloy.
• Holographic image changing from a £ symbol to the number 1 when viewed from different angles.
The new coins will be introduced in March 2017 and will be phased out during a 6 month period. The coins will remain legal tender until September 2017 coins so don’t forget to check those jars, draws and down the side of the sofa!
After this date if your bank, building society or post office won’t accept them, they can be exchanged in person at the Bank of England in London.