Specification of the £1 coin: a technical consultation

Specification of the £1 coin: a technical consultation

Budget 2014 announced that the government will introduce a new and highly secure £1 coin. The design incorporates four key features that would make the new £1 coin the most secure circulating coin in the world. These include: a 12-sided shape; bi-metallic construction; bi-colour appearance; and the Royal Mint’s new, world-leading anti-counterfeiting technology (Integrated Secure Identification Systems). The government is now seeking views on the proposals.

The original consultation and ACS' response can be viewed via the links below.

In the response, ACS has called on HM Treasury to set out a clear plan of communications and engagement with retailers ahead of the transition to the new £1 coin in 2017. ACS also raised concerns about the transitional period between the old and new versions of the £1 coin. Many stores feature coin operated machines such as photo booths, self-service tills and air/vacuum machines in forecourts, which will need to be either replaced or upgraded to accept the new tender. These upgrades can often be expensive and time consuming.


ACS' submission: