Everything you need to know about the new £1 coin

PUBLISHED: 08:20 28 March 2017 | UPDATED: 08:20 28 March 2017

The new new 12-sided £1 coin, which will start to enter circulation on Tuesday, as the old

The new new 12-sided £1 coin, which will start to enter circulation on Tuesday, as the old "round pound" will not be around for much longer. Picture Martin Keene/PA Wire

There’s a new quid on the block as of today. Here is what you need to know about the new £1 coin and how it will affect you:

Why is it being introduced?

There have been concerns about the old round pound’s vulnerability to sophisticated counterfeiters - around one in every 30 round pounds is a dud. For this reason the new £1 coin boasts new security features.

What security features does the new £1 coin have?

The features include its 12-sided shape, its bi-metallic structure with a gold-coloured outer ring and a silver-coloured inner ring and an image that changes from a “£” symbol to the number “1” when seen from different angles. It also has micro lettering, milled edges and has been dubbed the most secure coin in the world.

What other features does it have?

The coin’s design reflects England, Scotland, Wales and Northern Ireland, with a rose, a thistle, a leek and a shamrock. The fifth coin portrait of the Queen, designed by Royal Mint coin designer Jody Clark, is featured. The coin is thinner and lighter than the old coin but its diameter is slightly larger.

How do I get the new coins?

Once they’re in circulation they will start to be used in preference to the old versions, so as you spend or withdraw money you’ll get the new coins instead of the old ones naturally.

Will the new coins work in things like self-service and vending machines?

Preparations have been underway for a number of years to get ready for the new coins so there shouldn’t be too many problems. However not every machine will have been adapted ready for the first day of the new coins, and some machines may be able to accept either the old coins or the new coins, but not both. Businesses should let customers know how they are able to make payments.

What is happening to the old coin?

There is a period of just over six months when the old round pound will still be accepted as legal tender alongside the new coin. People are being encouraged to return their coins before October 15. They can bank them or spend them. Some of the new £1 coins will be made from melted-down round pounds.

Are there any valuable old-style £1 coins to look out for?

Apparently not. While some denominations do have rarer versions which could see them fetch more than their face value, the old £1 is not one of them.

Other News

40 minutes ago

Are you over 25 years old, and looking for a new way to keep fit? Perhaps you have been inspired by the latest series of Dancing on Ice and wish you could try something like that? Waveney Roller Skating Club may have the answer.


That Scottish burr, perfect enunciation and expert timing were the trademarks of James Alexander Gordon, the BBC radio announcer whose voice on Saturday teatimes was familiar to listeners for decades as they listened to him reading out the classified football results.


Port traffic in Great Yarmouth could be handled remotely and six jobs put at risk under a bid to transfer control to Liverpool.

Romance is in the air at the Market Gates Shopping Centre, Great Yarmouth when shoppers take part in a Get Hooked Up Valentine’s competition.

Most Read

Tue, 20:26

A care home in Great Yarmouth has been forced to close after watchdogs uncovered a catalogue of concerns.

Read more
Care Quality Commission
Mon, 15:48

A teacher is feeling a new woman and enjoying time with her children after she lost more than four stone in 26 weeks.

Read more
Tue, 10:50

A woman has been arrested on the suspicion of drug-driving and possession of a class A drug after the car she was believed to be driving crashed into a home in Gorleston.

Read more
Mon, 11:11

A decision to close a Great Yarmouth bridge due to reports that a child may have gone into a river has been criticized by a councillor.

Read more
Mick Castle
Mon, 16:15

Major roadworks at one of the main gateways into Great Yarmouth are due to end next week after four months of traffic disruption.

Read more
Norfolk County Council

Local Weather



max temp: 7°C

min temp: 1°C

Show Job Lists

Digital Edition


Enjoy the Great
Yarmouth Mercury

e-edition today


Newsletter Sign Up

Sign up to receive our regular email newsletter