New £1 coin in 2017: 'Most secure coin in the world'
A new £1 coin, billed by the Royal Mint as the "Most secure coin in the world" introduced in 2017
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The Royal Mint is producing the final round pound coin on Wednesday.
It is more than 30 years since the now familiar gold-coloured coins were first minted. The new-look replacement will be brought into circulation in 2017.
Chief executive of the Royal Mint, Adam Lawrence, said: “The end of the round £1 is a significant chapter in The Royal Mint’s 1,000 year history, and I’m sure that many in Britain who have grown up with the familiar round coin will experience a certain amount of nostalgia when the last one comes off the presses. The Royal Mint is constantly looking to the future, however, so whilst the round £1 has served us well, it is time to turn our attention to the new £1 that in time will be used by millions of people in Britain and become equally well recognised across the world.”
Chancellor George Osborne announced the new design of the coin in March 2014.
The final design features four emblems to represent each of the nations of the United Kingdom –
English rose, leek for Wales, Scottish thistle, shamrock for Northern Ireland – emerging from one stem within a crown.
He said the coin will incorporate security features aimed at combating counterfeiters.
Last year the Bank of England announced it will introduce plastic, or polymer, banknotes from 2016 that are harder to copy. The change over will start with a new £5 note featuring Winston Churchill next year, Jane Austen £10 a year later.