New pound coin enters circulation

The new 12-sided £1 coin will enter circulation as of today (28th March) with the Royal Mint releasing around 300million copies across the United Kingdom.

The coin has been specifically designed in order to reduce the number of forgeries, with around 1.6 billion forgeries of the old one pound coin believed to be in circulation.

The Royal Mint has confirmed that the security features on the new 12-sided pound are “impossible” to replicate. The design for the new coin was based on artwork by David Pearce, as a result of winning a competition to design the coin.

It will feature four emblems of the UK with a rose representing England, a Scottish thistle, a shamrock to represent Northern Ireland and a leek to represent Wales.

The old, round pound will no longer be accepted as currency from the 15th October, and the Royal Mint are encouraging people to use all of their old pound coins or return them to the bank before this date.

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