New One Pound Coin Enters Circulation

March 27, 2017 Share Source

The new 12-sided £1 coin will enter circulation on 28 March, the government has said. The round £1 will be legal tender alongside the new, more-secure coin until 15 October.

The public is being urged to use their current £1 coins or bank them before they lose their legal tender status. The government estimates around a third of the £1.3 billion worth of coins stored in piggy banks or saving jars around the UK are the current £1 style.

Some of those returned by the public will be melted down and used to make the 12-sided version. The new style was announced in the 2014 budget and has been billed by the Royal Mint as "the most secure coin in the world".

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Source: 

"New 12-sided pound coin to enter circulation in March." BBC News. January 01, 2017. Accessed February 12, 2017. http://www.bbc.co.uk/news/uk-38480180.

Last Updated: July 27, 2017