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New 12-sided pound coin to enter circulation in March | New 12-sided pound coin to enter circulation in March |
(about 1 hour later) | |
The new 12-sided £1 coin will enter circulation on 28 March, the government has said. | 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 round £1 will be legal tender alongside the new, more-secure coin until 15 October. |
The public are 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. | 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. | 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". | 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". |
Why the new coin is harder to counterfeit | Why the new coin is harder to counterfeit |
Its introduction will come as a new set of coin designs are also brought into circulation, celebrating the achievements of Jane Austen and Sir Isaac Newton. | Its introduction will come as a new set of coin designs are also brought into circulation, celebrating the achievements of Jane Austen and Sir Isaac Newton. |
The Royal Mint said the new designs have a "strong pioneering theme" and will start appearing this spring. | The Royal Mint said the new designs have a "strong pioneering theme" and will start appearing this spring. |
A Jane Austen £2 coin will celebrate the author 200 years after her death, while another £2 version will remember the Royal Flying Corps. | A Jane Austen £2 coin will celebrate the author 200 years after her death, while another £2 version will remember the Royal Flying Corps. |
A 50p coin will mark the achievements of mathematician Sir Isaac Newton, a one-time Master of the Royal Mint. | A 50p coin will mark the achievements of mathematician Sir Isaac Newton, a one-time Master of the Royal Mint. |
Dr Kevin Clancy, director of the Royal Mint Museum, said: "This is a particularly significant year in Royal Mint history as we welcome in the new 12-sided £1 coin, with its innovative security features. | Dr Kevin Clancy, director of the Royal Mint Museum, said: "This is a particularly significant year in Royal Mint history as we welcome in the new 12-sided £1 coin, with its innovative security features. |
"This year we also mark the achievements of Jane Austen, Sir Isaac Newton and the Royal Flying Corps - all pioneers in their own field." | "This year we also mark the achievements of Jane Austen, Sir Isaac Newton and the Royal Flying Corps - all pioneers in their own field." |