Pound won’t be ‘round’ much longerNovember 11, 2016 // No Comments
Businesses are being urged to get ready for the historic new £1 coin. A new campaign to support retailers and other major businesses to prepare for the historic new £1 coin has been launched. A new website is now live which provides businesses with materials aimed to support them in their preparation for the new coin, which comes into circulation in March 2017.
The government and Royal Mint are supporting all businesses affected as the 30-year-old pound coin is brought out of circulation and replaced with a new 12-sided version. The new pound coin will be the most secure of its kind in the world, to combat counterfeiters who have around 45 million counterfeit £1 coins currently in circulation. New security features include a hologram-like image that changes from a ‘£’ symbol to the number ‘1’ when the coin is seen from different angles. It also has micro-lettering and milled edges.
Businesses of all sizes are being encouraged to visit the New Pound Coin website to find out how to get ready for the change, and to download helpful materials to help educate and train staff.