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New Pound Coin

New Pound Coin – Has been announced to be issued on 28 March & is 12 sided with a hologram. The New Pound Coin is also made of nickel and brass & is the first new pound coin issued since 1983. Old pound coins need to be converted!

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New Pound Coin

On the 28th of March the Royal Mint will introduce a new pound coin, which will no longer be rounded, with the aim of reducing the cost to companies and taxpayers of the high number of Forgeries.

The British Mint has decided to replace the traditional one pound coin, which has been in circulation for thirty years, because it is very vulnerable to sophisticated forgeries, since one in every 30 pound coins is false.

The new pound coin will be twelve-fold - will have 12 sides -, its diameter will be slightly higher than the current one and will be thinner and lighter. In addition, the new pound coin will be harder to counterfeit, since it will be made of two metals, an outer ring of nickel and brass and an inner one of nickel, and will have a hologram that will change from the symbol of the pound to number one if viewed from different perspectives.

The traditional one pound coin, the round, will be legal tender until October 16, when establishments will no longer be required to accept it as a means of payment, although it may be deposited in banks.

So it is advised to exchange your old pound coins for the new pound coin ASAP.

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