Royal Mint Produce New £1 Coin

[Colin James]

The Royal Mint produce the new pound coin, I am not sure I like the abbrievation of the Integrated Secure Identification Systems being used though. (isis)

 

 

 

George Osborne, the Chancellor of the Exchequer, revealed that HM Treasury believes there is a strong case for introducing a new £1 coin to help reduce counterfeiting and ensure the integrity of the United Kingdom’s currency.

 

The Royal Mint has developed world-leading anti-counterfeiting technology which will enable Her Majesty’s Treasury to modernise the United Kingdom’s circulating currency with the production of a brand new £1 coin.

 

The Royal Mint has produced a prototype for a replacement £1 coin which utilises multiple layers of cutting edge technology and would allow the United Kingdom to rapidly reduce the rate of counterfeit coins entering general circulation.

 

The proposed £1 coin will be the most secure circulating coin in the world to date. 

 

A public consultation will be held over the summer focusing on how to manage any impacts before a final decision is made on the precise specification of the new coin, including the metal composition. 

The Royal Mint will work closely with key industry stakeholders to conduct a full consultation in order to understand the potential impact for industry.

 

A public design competition will be held at a later date to choose the design for the reverse, or ‘tails’, of the coin which is expected to be introduced in 2017.

 

The proposed £1 coin design is distinctly British, with a twelve-sided shape which evokes memories of the pre-decimalisation threepence piece.

 

It will be constructed from two different coloured metals and contain an iSIS security feature - a revolutionary new high security coinage currency system developed by The Royal Mint.

 

iSIS - Integrated Secure Identification Systems – enables not just coins, but the whole cash cycle to be more secure, protecting the public, vending machine operators, retailers, and the wider banking system.…

 

Full story here

[Cambo]

I wonder what the cost of this new iSIS wonder coin will be? Given its shape will vending machines need to be alterd so as to accept it?

[Adrian symonds]

I wonder what the cost of this new iSIS wonder coin will be? Given its shape will vending machines need to be alterd so as to accept it?

You don't want to know, ok maybe you do, according to the Register in a Article from 2014, it could £15 to £20 million.

 

i don't like it to be honest, looks like a Euro, like the £2 ones. I hope they don't have the same problems they had with the £2 coin when it was launched. Talking of which have anyone seen a £2 coin for a while?

[H.Wilson]

You don't want to know, ok maybe you do, according to the Register in a Article from 2014, it could £15 to £20 million.

 

i don't like it to be honest, looks like a Euro, like the £2 ones. I hope they don't have the same problems they had with the £2 coin when it was launched. Talking of which have anyone seen a £2 coin for a while?

 

No surprises from you again then Adrian, I would be keen to learn would does please you. 

[Paul Jones]

I was about to say I thought that it looks very nice. It is modern and it has been developed to help prevent counterfeiting. I never real;used how long the original pound coin had been in circulation, good to have a change (no pun intended)    :Cha ching:

[Denise Lloyd]

It looks like the old threepenny bit - it was legal tender not that long ago

 

It ceased to be legal tender in August 1971 following decimalisation

 

 

The 12-sided coin reprised In March 2014, the Royal Mint announced that a new design of one pound coin will be introduced in 2017, reprising the twelve-sided shape. The new coin is designed to be more difficult to counterfeit.^[7][8]

[ragwert]

We also get the new plastic £5 notes in September & !0 notes next year

 

[Adrian symonds]

We also get the new plastic £5 notes in September & !0 notes next year

 

 

I wonder if they have solved the problems of them slipping in cash machines as they have not got the same grip as paper ones. The £5 note going plastic is a good idea, it will last longer and I will not have to Iron them when I forget to take them out of my pocket and wash them :)

 

While I don't use them that much, self scan checkouts may also have problems with them, I presume they have been tested.