If you own/run/work for a business that deals with cash payments on a daily or any basis really you may want to continue reading. It has been stated that in less than a month the new pound coin will be making an appearance in the UK.
A lot of you are probably wondering why they keep changing our currency, alongside the £5 notes changing it seems they are desperate to change our money, however changing the £1 does have its valid reasons:
- The soon to be 'old' pound coins are very easy to forge, therefore a lot of people have been using fake money to pay for things.
- 1/30 pound coins in circulation are fake
- Our current pound coins are becoming increasingly expensive to make.
The new £1 coins are said to have a number of features that makes it simply impossible to forge. The Royal mint are calling it 'the most secure coin in the world'.
How to recognise the new £1 coin:
- 12 sided shape with metallic finish created using two metals (like the current £2 coin)
- The side of the head shows a latent image underneath the portrait of Her Majesty the Queen.
- Both sides of the coin show small 'micro-letting' on the outer rim of the flat sides of the coin
- Features a 'hidden high security feature' this detecting which coins are genuine instantly.
- One side will show the Queen and the other will be a new image symbolising the unity between England, Scotland, Wales and Northern Ireland.
The new pound coin is set to enter circulation from 28th March 2017. The circulation will end on 15th October 2017 and after this date our current pound coins will no longer be seen as current tender.
