The new 12 sided £1 coin will be entering circulation on March 28th with savers urged to start spending any old ones they have before they cease to be legal tender.
The new £1 coin has been hailed as “the most secure coin in the world” boasting several new security features, including a hologram.
£1 coins were first launched on April 21st 1983 replacing the old Pound Notes with the Royal Mint producing more than 2.2 billion round pound coins since that time.
It is understood over £1Billion worth of the coins are kept in savings tins throughout the country with the mint urging you to ‘spend it or return it to your bank before October 15th.’
The new coin is made of two metals, with a gold-coloured outer ring and a silver-coloured inner ring, is a little larger than than current coin but weighs slightly less.
It has an image that changes from a “£” symbol to the number “1” when the coin is seen from different angles. It also has very small lettering on both sides of the coin and milled edges.
