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

27 minutes ago

It was an accident that rocked the speedway world when a Great Yarmouth rider died at the age of 37 after racing for a team from the town 70 years ago.


An MP has written to Greater Anglia asking for explanations following a week of train cancellations and delays.


A major refurbishment project will see a pub in Great Yarmouth transformed into an American style smokehouse bar and grill.

Emergency services are currently trying to evacuate homes in a coastal village.

Most Read

Thu, 06:31

It is the coldest week in February for five years and Norfolk’s otherwise popular campsites should be empty.

Read more
Great Yarmouth Borough Council
Thu, 15:30

Perilously close to the cliff edge this home in Hemsby could be one storm away from oblivion.

Read more
Sunday, March 11, 2018

Youngsters can take part in a Peppa Pig muddy puddle walk at an east Norfolk care home and raise funds for Save the Children.

Read more
Wed, 15:12

Amusement arcade managers in Great Yarmouth and Lowestoft have expressed their fears over plans by the government to scrap 1p and 2p coins.

Read more
Wed, 17:00

If happiness is in the little things then mini Merrivale must be a huge hunk of joy.

Read more

Local Weather



max temp: 0°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