In March 2017, the introduction of the new 12 sided £1 coin was launched by The Royal Mint, it is replacing the current pound coin which has been in circulation for thirty years.
This new £1 coin is reported to be most secure coin in the world with a high security feature hidden in the coin as a way to protect it from counterfeiters.
The new 12-sided coin has a very individual shape with its alternating grooves and smooth edges. It is also distinctive by the use of two different coloured metals, the outer rim is a gold colour made from nickel-brass whilst the inner ring is silver and is made up from nickel plated alloy.
Another feature of the £1 coin is the veiled hologram image at the base of the coin. It features a ‘£’ symbol that changes to number ‘1’ as you turn the coin in different angles.
The cutting edge technology and craftsmanship used by The Royal Mint in their South Wales factory has ensured that this coin will be hard, if not impossible to replicate, as is the case with the present £1 coin. It is thought that approximately one in thirty £1 coins presently in circulation are counterfeit.
The new £1 coin also displays micro lettering along the lower inside rim on either side of the coin.
Written on the obverse (or heads) side of the coin is the writing One pound, whilst on the reverse side (or tails), will for example be the year of it’s production, like 2016 or 2017.
Jody Clark, a Royal Mint coin designer has her creation of the fifth coin portrait of Her Majesty the Queen displayed on the obverse side of the new pound coin.
Whilst on the reverse side of the new £1 coin was a new design by David Pearce, who won a public design competition aged just 15 years old.
It features an English rose, a Welsh leek, a Scottish thistle and the Northern Irish shamrock rises up from within a royal crown.
The new 12 sided £1 coin is thinner, lighter yet slightly larger than the existing £1 coin, with it’s dimensions measuring – 2.8mm in depth, 8.75g in weight and 23.43mm in diameter point to point.
The old £1 coin will lose its legal tender status by the 15th October 2017.