Nations of the Crown £1 2016 to 2022
By Coinsanduk | Saturday, 18 January 2025
The £1 coins started rolling off the production line at a rate of over 4000 a minute in 2016. The new 12-sided coin resembles the old threepenny bit. The new £1 coin was announced by the Chancellor at Budget 2014, and the design of the new coin was announced at Budget 2015.
David Pearce, 15 at the time, and a pupil at Queen Mary’s Grammar School in Walsall, beat off fierce competition to be selected as the coin’s designer. His winning design was chosen following a public competition organised by The Royal Mint on behalf of Her Majesty’s Treasury which saw over 6,000 entries.
The previous £1 coin design was replaced for the first time in over 30 years because of its vulnerability to sophisticated counterfeiters. The round £1 coin lost its legal tender status at midnight on 15 October 2017. The round £1 coin can continue to be deposited into a customer’s account at most High Street Banks in the UK.
Levels of counterfeit £1 coins was as high as 3% in the previous few years, equating to around 45 million coins.
I am delighted that the Royal Mint are now producing the most secure circulating coin anywhere in the world. With ground-breaking technology, developed in Wales, the new coin will help secure our economy and get rid of counterfeits. In a year’s time, the new coin, which will incorporate emblems from all four of our home nations, will line millions of pockets and purses around the UK.
- George Osborne, Chancellor of the Exchequer
The Royal Mint worked with key industries and businesses during the introduction phase of the Nations of the Crown £1 coin, and an awareness and education campaign was planned to assist businesses to ensure a seamless and smooth transition.
The AVA and The Royal Mint have been working together for a number of years to ensure implementation of the new one pound coin proceeds as smoothly as possible.
The AVA and The Royal Mint have been working together for a number of years to ensure implementation of the new one pound coin proceeds as smoothly as possible.
- Jonathan Hart, Chief Executive of the Automatic Vending Association said:
Following the coin’s introduction on 28 March 2017, there was a six-month period when the current round £1 coin and the new 12-sided £1 coin were in circulation at the same time.
The final specification of the 12-sided £1 coin and method of introduction were decided after a ten-week public consultation in 2014. The consultation considered the physical and material characteristics of the coin, as well as the parameters for the transition.
Specifications
- Composition: Nickel-brass outer; nickel-plated homogenous non-ferrous inner
- Weight: 8.75g
- Diameter: Maximum (point to point) 23.43mm; minimum (edge to edge) 23.03mm
- Thickness: 2.8 mm
- Edge: Milled
- Shape: 12-sided shape, with rounded edges (radial chords) and corners
£1 Pound 1983 to 2023 - Price Guide and values