New one pound coins designed by David Pearce (DP), (who won a competition at the age of 15) have gone into circulation in Britain today. The new coins are being manufactured at the Royal Mint in Llantrisant, South Wales, at a rate of three million per day.
Individually, the new coin is thinner, lighter and slightly bigger than the coins they intend to replace. While the old coin and the new coin will continue to co-exist for a period of around six months, the current, in use, round pound is expected to cease as legal tender on October 15th, 2017.
This latest 12-edge sided coin features the portrait of the Queen on one surface, while on the other side is a royal coronet out of which emerges the symbols of England (English rose), Scotland (Scottish thistle), Wales (Welsh leek) and Northern Ireland (Irish shamrock), and all from one apparent stem.
According to Britain’s finance ministry the new bi-metallic coin is currently the most secure of its kind in the world, designed as such to prevent a rise in counterfeits.