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Secure icon The most secure coin in the world

The new coin has a number of features that make it much more difficult to counterfeit.

12-sided – its distinctive shape makes it instantly recognisable, even by touch.

Bimetallic – it is made of two metals. The outer ring is gold coloured (nickel-brass) and the inner ring is silver coloured (nickel-plated alloy).

Latent image – it has an image like a hologram that changes from a ‘£’ symbol to the number '1' when the coin is seen from different angles.

Micro-lettering – it has very small lettering on the lower inside rim on both sides of the coin. One pound on the obverse “heads” side and the year of production on the reverse “tails” side, for example 2016 or 2017.

Milled edges – it has grooves on alternate sides.

Hidden high security feature – a high security feature is built into the coin to protect it from counterfeiting in the future.

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Pound coin image

Bold icon State-of-the-art

The coin’s design reflects the United Kingdom’s heritage and superb craftsmanship.

Made by The Royal Mint – the coin is produced by The Royal Mint using cutting-edge technology developed on its site in South Wales.

Bold new design – it also features a new design that shows the English rose, the Welsh leek, the Scottish thistle and the Northern Irish shamrock emerging from one stem within a royal coronet. This was created by David Pearce who won a public design competition at the age of 15.

The fifth coinage portrait – the fifth coin portrait of Her Majesty the Queen, designed by Royal Mint coin designer Jody Clark, is featured on the coin.

Pound coin shadow
Pound coin image

Smart icon Changing dimensions

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 £1 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 we are introducing a new, highly secure coin on 28 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

How will it affect me?

The new 12-sided £1 coin is being introduced into circulation on 28th March 2017.  You will start to see the new 12-sided coin in the days and weeks following this.

Businesses across the UK who handle cash have been informed of the need to prepare for the introduction. Many will have upgraded their machines to accept the new £1 coin, however, not all machines will work with the new coin from the date of introduction.  Please talk to the equipment owner if you have any questions.

The legal tender status of the round £1 coin will be withdrawn on 15th October 2017.  From this date shops will no longer accept these coins, but you will still be able to take them to your bank.  We would encourage you to use your coins or return them to your bank before 15th October.

How will it affect my business?

All businesses which handle cash will need to prepare for the:

  • introduction of the new £1 coin;
  • co-circulation period, when the new £1 coin and the old £ coin are in circulation at the same time; and
  • demonetisation, when the current £1 coin is no longer legal tender.

Important dates

October 2016 to 27 March 2017

Preparing for the new £1 coin

  • check whether you operate equipment that handles the £1 coin.
  • contact your equipment supplier to find out if you need adaptations or replacements and by when.
  • make the changes to your coin handling equipment.
  • train your staff on the features of the new £1 coin.
  • consider any changes to your cash handling processes e.g. counting, storing and banking during the co-circulation period.

28 March to 15 October 2017

Co-circulation period

  • you can accept both coins from your customers.

  • to enable banks to process your coins during the co-circulation period  please return your old and new £1 coins in separate bags.  For more details please visit the Frequently Asked Questions section of this website.

  • your equipment may be able to accept or dispense both £1 coins or just one. Please check with your equipment suppliers.

  • you will need to tell your customers which coins your equipment can accept.

16 October 2017 onwards

Demonetisation

  • all your coin handling equipment should be able to accept the new £1 coin.
  • you are under no obligation to accept the round £1 coin from your customers and you should not distribute the round £1 coin.
  • the round £1 coin can continue to be deposited into a customer’s account at most high street banks and the Post Office*

    *check with your bank for more details, including deposit limits.

Business Resources

Free training materials are available to download to help your business prepare for the new £1 coin.

Extra Information

Need more information?

For more information about the new £1 coin please email newonepoundcoin@royalmint.com or register your details. We will not pass your details on to third parties.

Frequently Asked Questions

General Interest

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 today is a counterfeit. We are introducing a new, highly secure coin to reduce the costs of counterfeits to businesses and the taxpayer.

HM Treasury, with the support of The Royal Mint, identified and engaged stakeholders that would be affected by the introduction of the new £1 coin. HM Treasury launched a ten-week public consultation on 12 September 2014.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/413929/PU1775_cover___prelims__FINAL_.pdf

You should continue to spend any of the current £1 coins you carry as normal. However, if you do have £1 coins saved in money boxes or jars you are encouraged to deposit these at your bank. Anyone wanting to learn more about the new coin should visit

The new coin has a number of features that make it much more difficult to counterfeit, including:

  • 12-sided - its distinctive shape makes it instantly recognisable, even by touch;
  • Bimetallic - it is made of two metals. The outer ring is gold coloured (nickel-brass) and the inner ring is silver coloured (nickel-plated alloy);
  • Latent image – it has an image like a hologram that changes from a ‘£’ symbol to the number '1' when the coin is seen from different angles;
  • Micro-lettering - it has very small lettering on the lower inside rim on both sides of the coin;
  • Milled edges - it has grooves on alternate sides; and
  • Hidden high security feature – A high security feature is built into the coin to protect it from counterfeiting in the future.

No coin is counterfeit proof. The features that have been included in the new £1 coin ensure the highest available levels of security are in place presenting a significant barrier to counterfeiters. For the first time, the High Security Feature developed by The Royal Mint means 100% accurate automatic recognition is possible on a genuine or counterfeit coin.

No. The current £1 coin is 9.5g and the new £1 coin is lighter at 8.75g.  The current £1 coin has an edge thickness of 3.15mm, the new £1 coin is thinner at 2.8mm.  The current £1 coin is 22.5mm in diameter, the new £1 coin is wider - 23.43mm from point to point and 23.03mm edge to edge.  

The reverse side of the coin the ‘tails’ shows the English rose, the Welsh leek, the Scottish thistle and the Northern Irish shamrock emerging from one stem within a royal coronet. This was designed by David Pearce. David won a public design competition, of over 6,000 entries, at the age of 15. This was adapted by professional artist David Lawrence.

The fifth coin portrait of Her Majesty the Queen is featured on the coin’s ‘heads’ side. It was designed by Royal Mint coin designer Jody Clark.  Jody is the first Royal Mint engraver to be chosen to create a royal coinage portrait in over 100 years. His design was selected from a number of anonymous submissions to a design competition.

The new £1 coins are produced by The Royal Mint in Llantrisant, South Wales.

The Royal Mint has consulted with the Royal National Institute of Blind People (RNIB) to assess any impact for the visually impaired in relation to identifying the new £1 coin. User testing showed that the 12 sides of the new £1 coin and the milled edges made it easier to identify.  

The new £1 coin will be introduced on 28th March 2017.

Banks and retailers will start to receive the new £1 coin from 28th March 2017. However it will take about a month for the new coins to reach most bank branches and retailers.  

The new £1 coins enters circulation on 28th March 2017 and the public will start to see the coins in their change in the following days and weeks.

Yes. Industry has had a number of years to prepare for the upgrade. Many businesses are working hard to make sure that their machines will be ready to accept payments using the new £1 coin. However, this is a significant task and not every machine will be ready on the day of introduction, and due to their internal mechanisms, some machines and equipment will only ever be able to accept either the new 12-sided coin or the existing, round pound coin. Businesses are being encouraged to let their customers know how they are able to make payments.

Using counterfeit coins is illegal. If you have a counterfeit or suspect that a coin may be a counterfeit, please hand it in to your local police station.

Yes, there will be a six month period when the current £1 and the new £1 coins are in circulation at the same time.  During this time, both coins are legal tender and you can use both coins to make payments. For the definition of legal tender click here.

The current £1 coins will be withdrawn from circulation as the new £1 coins are introduced. The end of the co-circulation period will be the 15th October 2017. Modelling carried out by Cash Services, the cash industry body, suggests that by August 2017, more than half the £1 coins in circulation will have been switched for the new 12-sided coins.

From the launch of the new £1 coin, the current £1 coin will begin to be withdrawn from circulation as the new £1 coins are introduced.  

Following the six-month co-circulation period, the legal tender status of the current £1 will be withdrawn.  For the definition of legal tender click here.

You should continue to spend any of the current £1 coins you carry as normal. However, if you do have £1 coins saved in money boxes or jars you are encouraged to deposit these at your bank.

You should continue to spend any of the current £1 coins you carry as normal. However, if you do have £1 coins saved in money boxes or jars these should be spent or deposited at your bank before legal tender status is removed on 15th October 2017.

The legal tender status of the current coin will be removed on 15th October 2017. 

Following the ending of legal tender status, the current round £1 coin can continue to be deposited into a customer’s account, either business or personal, at most High Street Banks including RBS, NatWest, Ulster, HSBC, Barclays, Lloyds, Santander, Nationwide, Clydesdale, Yorkshire Bank, Halifax, Bank of Scotland and The Post Office.
 
It may be possible to exchange £1 coins at these banks and the Post Office provided you hold an account with them. Specific arrangements may vary from bank to bank, including deposit limits.  It is recommended that you consult with your bank directly.

It is an established practice for The Royal Mint to issue commemorative versions of all of the newly designed coins that will be in circulation during the forthcoming year.

It is an established practice for The Royal Mint to issue commemorative versions of all of the newly designed coins that will be in circulation during the forthcoming year. The Royal Mint Experience has always offered visitors the chance to strike their own pound coin.

All commemorative and circulating coins made by The Royal Mint are legal tender. However, only circulating coins are designed to be spent.

Around 1.5 billion new £1 coins are being produced by The Royal Mint. Over 600million 2016 dated new £1 coins have been produced. These, and 2017 dated coins, will be circulated throughout the six month co-circulation period.

Business and Retailers

In preparation for the launch of the new £1 coin in March 2017, you should:

  • Check whether you operate equipment that handles the £1 coin;
  • Contact your equipment supplier to find out if you need to make any adaptations or upgrades and by when;
  • Make the necessary changes to your coin handling equipment; and
  • Train your staff on the features of the new £1 coin. Materials to support staff training are available to download for free at www.thenewpoundcoin.com. This includes leaflets and videos.

To enable banks to process your coins during the co-circulation period  please return your old and new £1 coins in separate bags.  For most companies, who make £20 deposits, that will mean separating the old and new coins in the usual clear bags. If you are depositing coins in bulk (£500) the round £1 coins should be in red bags and the new 12-sided £1 coins in purple ones. Your bank can advise you.

The Royal Mint and HM Treasury have been consulting with industry for a number of years, including organisations in the cash services industry, coin handling equipment manufacturers and representative organisations and individual companies in sectors with high cash transactions e.g. retail, transport and leisure industries.

The Royal Mint has made samples of the new £1 coin available to manufacturers and operators of coin handling equipment for the testing, development and implementation of equipment upgrades. Operators of coin handling equipment can view a list of manufacturers who have received samples from The Royal Mint here.

Coin handling equipment includes vending machines, trolleys, parking machines, gaming machines, photo booths, lockers, self-service checkouts and any other machine that weighs, counts, checks, sorts, accepts or dispenses £1 coins.

Please contact your manufacturer or supplier to find out if you need adaptations or replacements to your coin handling equipment.

Operators of coin handling equipment should engage with their manufacturers or suppliers as early as possible to identify when any upgrades can be implemented.

The Royal Mint has been working collaboratively with key industries and businesses to ensure a smooth transition for a number of years.  As part of the business communications campaign, free downloadable information is available at www.thenewpoundcoin.com to assist business owners with planning for the launch and transition period.

Further Information

Further information about the new £1 coin is available at www.thenewpoundcoin.com. If you have any further queries please email newonepoundcoin@royalmint.com.

The Bank of England holds responsibility for the issuance of banknotes in England and Wales. You can email any questions to enquiries@bankofengland.co.uk or visit the New Fiver’s website.

Information about Scottish and Northern Ireland banknotes is available from Association of Commercial Banknote Issuers (ACBI) at http://www.acbi.org.uk and the Committee of Scottish Bankers (CSCB) at http://www.scotbanks.org.uk/polymer_banknotes.php.

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