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What you need to know about the new £1.00 coin

From this March you will start seeing the new 12 sided £1.00 coin with the old £1.00 will cease to be legal tender on 15th October 2017.

new-1-coin· Dubbed the most secure coin in the world and based on the old threepenny bit.

· 12-sided – will stand out by sight and by touch

· Bimettallic – The outer ring is gold coloured (nickel-brass) and inter ring is silver coloured (nickel-plated alloy)

· Micro-lettering – around the rim on the heads side of the coin tiny lettering reads: ONE POUND. On the tails side you can find year the coin was produced.

· 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.

· Hidden high security feature – an additional security feature is built into the coin to protect it from counterfeiting but details have not been revealed.

You are 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.

This means every vending machine in the UK will need its coin mechanism to be upgraded to accepted the new coin.

Contact us for your coin mechanism upgrade.

 

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