New £1.00 coin is on its way - be aware!

As previously reported in our article 'Introduction of the new £1 coin - March 2017 - Industry Readiness Survey' - a new £1.00 12 sided bimetallic coin is planned to be introduced in March 2017.

The Government is encouraging industry to prepare for this and a Treasury website dedicated to such preparation and with further detail can be found here: http://www.thenewpoundcoin.com/

All machines which accept ash for example will need updating and it is intended that after a 6 month transition period, the existing £1.00 coin will be phased out.

The new 12-sided £1 coin’s dimensions are different from the current round £1 coin:

• Thickness: 2.8mm –it is thinner than the round £1 coin.
• Weight: 8.75g –it is lighter than the round £1 coin.

Diameter: 23.43mm – it is slightly larger than the round £1 coin; the maximum diameter (point to point) is 23.43mm.