Business

New British one-pound coin revealed today

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Handful of new British one-pound coins. Image Credit: Bloomberg

By Shirley Donlon

A new 12-sided gold coin will be circulated in Britain today.

The coin features symbols of England, Scotland, Wales and Northern Ireland.

The new coin is set to replace the old round one-pound coin which was created in 1983.

The new coin features a slightly thinner and lighter body and is slightly bigger than the original round one-pound coin.

In October 2017, round pounds will not be accepted as legal tender, according to the Telegraph.

This will give people roughly six months to spend, donate or bank their one-pound coin.

Britain’s finance ministry has said that the new coin will be “the most secure of its kind in the world” and will prevent a rise in counterfeits.

The new one-pound coins were created at the Royal mint in Llantrisant, South Wales, at a production rate of roughly 140,000 coins per hour, according to Bloomberg.

 

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