The look of UK pound coins is about to undergo a massive change. No longer will they be round – instead they are going to be dodecagon shaped, ie 12 sided.
The Treasury is urging businesses to prepare for the introduction of the new pound coin, which comes into circulation on 28 March 2017.
Cash-handling firms and those that operate vending machines have been directed to a website – thenewpoundcoin.com – to help guide them through the transition as part of a campaign.
The Royal Mint and the Government will take the circular 30-year-old pound coin out of circulation, with the new version featuring 12 sides.
The new 12-sided £1 coin’s dimensions are different from the current round £1 coin.
Thickness: 2.8mm – it is thinner than the round £1 coin.
Weight: 8.75g – it is lighter than the round £1 coin.
Diameter: 23.43mm – it is slightly larger than the round £1 coin, the maximum diameter (point to point) is 23.43mm.
Why replace the current coin?
The current £1 coin is being replaced for the first time in over thirty years because of its vulnerability to sophisticated counterfeiters.
Approximately one in thirty £1 coins in circulation is a counterfeit.
That is why they are introducing a new, highly secure coin in March 2017 to reduce the costs of counterfeits to businesses and the taxpayer.
For more information on how to identify counterfeits of the current round £1 coin please click here http://www.royalmint.com/discover/uk-coins/counterfeit-one-pound-coins
The old coin will probably be non-legal tender by 15 October 2017 although most UK Banks are likely to accept them for a period of time after this.
Link to Independent article on the subject: http://www.independent.co.uk/news/uk/home-news/new-pound-coin-when-is-it-released-how-can-i-get-one-what-does-it-look-like-how-many-sides-a7391706.html
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