{"id":148435,"date":"2017-01-01T17:49:32","date_gmt":"2017-01-01T15:49:32","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=148435"},"modified":"2017-01-01T17:52:25","modified_gmt":"2017-01-01T15:52:25","slug":"meet-the-most-secure-coin-in-the-world-the-new-british-pound","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/148435\/meet-the-most-secure-coin-in-the-world-the-new-british-pound\/","title":{"rendered":"Meet the most secure coin in the world, the new British pound"},"content":{"rendered":"<p>A new 12-sided UK \u00a31 coin will enter circulation on 28 March 2017, and is said to be the most secure coin in the world.<\/p>\n<p>This is the first time the \u00a31 coin has been introduced in over 30 years as the UK looks to remove the old coin because of its vulnerability to sophisticated counterfeiters.<\/p>\n<p>Approximately one in thirty \u00a31 coins in circulation is a counterfeit.<\/p>\n<p>According to HM Treasury, around \u00a31.3 billion worth of coins are stored in savings jars across the UK, and the current \u00a31 coin accounts for almost a third of these. &#8220;Therefore it is important that all round \u00a31 coins are returned before 15 October 2017 when they lose their legal tender status,&#8221; it said.<\/p>\n<p>The new coin has a number of features that make it much more difficult to counterfeit.<\/p>\n<ul>\n<li><strong>12-sided<\/strong> \u2013 its distinctive shape makes it instantly recognisable, even by touch.<\/li>\n<li><strong>Bimetallic<\/strong> \u2013 it is made of two metals. The outer ring is gold coloured (nickel-brass) and the inner ring is silver coloured (nickel-plated alloy).<\/li>\n<li><strong>Latent image<\/strong> \u2013 it has an image like a hologram that changes from a \u2018\u00a3\u2019 symbol to the number &#8216;1&#8217; when the coin is seen from different angles.<\/li>\n<li><strong>Micro-lettering<\/strong> \u2013 it has very small lettering on the lower inside rim on both sides of the coin. One pound on the obverse \u201cheads\u201d side and the year of production on the reverse \u201ctails\u201d side, for example 2016 or 2017.<\/li>\n<li><strong>Milled edges<\/strong> \u2013 it has grooves on alternate sides.<\/li>\n<li><strong>Hidden high security feature<\/strong> \u2013 a high security feature is built into the coin to protect it from counterfeiting in the future.<\/li>\n<\/ul>\n<p>Chief secretary to the Treasury David Gauke said: &#8220;March 28 should be an important date in everybody\u2019s calendar this year &#8211; as we will have a new quid on the block.\u00a0 This is a historic moment as it\u2019s the first time we\u2019ve introduced a new \u00a31 coin since 1983, and this one will be harder to counterfeit than ever before.&#8221;<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2017\/01\/PoundCoin-e1483285129596.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-148439\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2017\/01\/PoundCoin-e1483285129596.jpg\" alt=\"\" width=\"600\" height=\"337\" \/><\/a><br \/>\nThe Royal Mint will make over 1.5 billion of the new \u00a31 coins, which is based on the design of the old 12-sided three-penny bit, a popular British coin which went out of circulation in 1971.<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2017\/01\/newpoundcoin-e1483285249332.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-148441\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2017\/01\/newpoundcoin-e1483285249332.jpg\" alt=\"\" width=\"602\" height=\"400\" \/><\/a><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/general\/122157\/most-beautiful-banknotes-in-the-world\/\" target=\"_blank\">The most beautiful banknotes in the world\u00a0<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new UK \u00a31 coin will enter circulation on 28 March 2017, and is said to be the most secure coin in the world.<\/p>\n","protected":false},"author":10,"featured_media":148445,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[26],"class_list":["post-148435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/148435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=148435"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/148435\/revisions"}],"predecessor-version":[{"id":148443,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/148435\/revisions\/148443"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/148445"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=148435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=148435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=148435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}