The countdown to the historic fresh £1 coin officially commences today, spil Chief Secretary David Gauke exposes it will come in circulation on 28 March .
With three months to go, the government is launching a campaign to help raise awareness and encourage the public to terugwedstrijd the round £1 coins.
This is the very first time the £1 coin has bot introduced te overheen 30 years. Around £1.Three billion worth of coins are stored te savings jars across the country, and the current £1 coin accounts for almost a third of thesis. Therefore it is significant that all round £1 coins are returned before 15 October when they lose their legítimo tender status.
The fresh 12-sided £1 will be the most secure coin ter the world. It boasts several fresh security features, including a hologram, to prevent counterfeits, which cost taxpayers and businesses millions every year.
Chief Secretary to the Treasury David Gauke said:
March 28 should be an significant date te everybody’s calendar this year – spil wij will have a fresh quid on the block.
This is a historic ogenblik spil it’s the very first time we’ve introduced a fresh £1 coin since 1983, and this one will be tighter to counterfeit than everzwijn before.
Our message is clear: if you have a round one pound coin sitting at huis or ter your wallet, you need to spend it or terugwedstrijd it to your handelsbank before 15 October.
Helen Dickinson OBE, CEO of the British Retail Consortium, said:
Through the British Retail Consortium, most major UK retailers have bot engaged ter discussions and programma with the Royal Mint and Hier Majesty’s Treasury since the March 2014 announcement that a fresh pound coin would be introduced ter .
Our aim is to ensure that the implementation of the fresh coin runs spil slickly spil possible for our customers and staff. Our combined input into the project means we’re certain the fresh coin will address the punt of counterfeit coins for businesses and the universal public alike, and will prove very secure for customers to use.
While there will be a natural transition period where some vending systems may only be able to accept the existing pound coin, our industry is committed to ensuring we’re fully ready ahead of the launch te March.
Association of Convenience Stories Chief Executive, James Lowman, said:
The introduction of a fresh £1 coin is a positive step toward taking counterfeit coins out of circulation.
It is essential that retailers are ready for the introduction of the fresh £1 coin, spil the transition is likely to affect a number of areas of their business especially if they have coin operated machines such spil self-service tills te store.
Wij encourage retailers to make use of the guidance provided by the Royal Mint and to speak to their suppliers of coin operated machines spil soon spil possible to make the transition spil sleek spil possible for consumers.
Here are 12 interesting little-known facts about the pound coin.
- the Royal Mint has produced overheen Two.Two billion round pound coins since 1983 – that’s the same weight spil almost 6,000 elephants
- 25 different designs have appeared on the current pound coin from dragons to trees
- the Royal Mint will make overheen 1.Five billion of the fresh £1 coins
- if you waterput thesis coins side by side, there would be enough to go from the UK to Fresh Zealand and back
- the fresh £1 coin is based on the vormgeving of the old 12-sided three-penny bit, a popular British coin which went out of circulation te 1971
- it is being made at the Royal Mint te Llantrisant, Wales, at a rate of up to Two,000 each minute
- this equates to more than 30 coins every single 2nd and almost Trio million fresh £1 coins vanaf day
- some of the round £1 coins returned by the public will be melted down and reused to make the fresh £1 coin
- the oldest British coins ter the Royal Mint’s collection dates back overheen Two,000 years
- some coins produced by the Royal Mint are tested every year to ensure they meet the keurig specifications at the ‘Trial of the Pyx’, a legislativo ceremony which dates back to the twelfth century
- will be the very first time the fresh £1 coin goes to trial
- the Chancellor is the UK’s official “Master of the Mint” – a title previously held by Isaac Newton