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Businesses urged to prepare for new pound coin

31 October 2016

March 2017 will see the launch of the new, 12-sided pound coin and businesses are being urged to check that preparations for its introduction are in place.

In addition to the launch next March, cash handling equipment will also be expected to deal with a six-month transitional period.

Following this, the current circular pound coins will be phased out.

The decision to introduce the new design was made following a government consultation.

It is estimated by The Royal Mint that approximately one in 30 of the pound coins currently in circulation is a fake.

Introduction of the new design is intended to make it much more difficult to copy.

In addition to the 12 sides, the new pound coin will include two types of metal, a latent image, micro-lettering, milled edges and a hidden security feature, the details of which have not been announced.

To support the launch, a new website has been created by the Treasury and The Royal Mint www.thenewpoundcoin.com


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