An all-new, 12 sided £1 coin is going into circulation next month. Approximately one in thirty £1 coins in circulation today is a counterfeit, so the new £1 is designed with anti-counterfeiting in mind. The Royal Mint is producing 1.5 billion new coins with a new shape and design.
The 12 sides have rounded corners and have milled edges. It has a nickel-brass outer edge and a nickel-plated interior. The new pound coin is 2.8mm thick and weighs 8.61g, dimensions that are different from other coins (including the original £1).
The new £1 will have an image like a hologram that changes from a “£” symbol to a “1” when it is seen from different angles. It also has micro-lettering and a hidden high security feature to protect against counterfeiting.
Preparing for the new £1 coin
Businesses have been given advanced notice to modify their coin operated machines to accept the £1 coin and TVC is no different. We’re currently rolling out upgrades on all our stock in preparation for the release of the new coin. Our fruit machines, pool tables and digital jukeboxes provide a valuable revenue stream to our clients and we are working hard to ensure that service is not interrupted. Our clients enjoy regular equipment servicing so that their machines are always kept up to date and in full working condition. During the co-circulation period, our entertainment machines will be able to accept and dispense both versions of the £1 coin.
From 16th October, the round £1 will be withdrawn from circulation altogether and will no longer be considered legal tender.
If you have any questions regarding the introduction of the new £1 coin and how it could affect your jukeboxes and fruit machines, get in touch today.
