The new £1 coin has become one of the most secure in the world
According to the BBC, the new coins are particularly difficult to counterfeit due to their design: inside the coin is a special material that can be scanned by various devices, such as cash registers or coin counting machines. And these are not the only security measures: the coin features images reminiscent of holograms, as well as tiny letters on the edge of the coin.
The Royal Mint has called this coin the most secure in the world. It is intended to replace the current £1 coin in circulation. According to some estimates, one in every 40 coins of this denomination is counterfeit.
The old coin will remain in circulation until October 15. After that, shops will have the right to refuse it as payment. After October 15, the coin can be taken to a bank and exchanged for a new one. The coins have already been delivered to 33 banks and post offices across the UK.
The new coin will be lighter and thinner than the old one. It weighs only 8.75 grams – less than the old one. Its diameter is 23.43 mm, slightly larger than the old pound. The outer ring of the coin is gold-colored, made of a copper-nickel alloy. The inner ring is silver, made of a nickel-plated alloy.
The Royal Mint will issue 1.5 billion coins – approximately 23 coins for every resident of the country. Gradually, the old coins will be withdrawn from circulation and melted down to make new ones.