General info
50 years in the making – from 3d to £1: the story behind the new £1 coin
In just a few weeks, Britain’s one pound coin will undergo a major makeover. The familiar round pound will change to become bi-metallic and 12-sided and will also have several new security features. But the shape of this new £1 coin is actually a throwback to the thrup’nny bit – an old favourite from the pre-decimal era.
The 12-sided threepenny is fondly remembered for its individuality. There was quite literally nothing like it before, and it holds the proud title of Britain’s first non-circular coin.
But, of course, it’s not the first major change in the nation’s £1.
I’ve taken a look back at some of the key changes for Britain’s coinage over the last 50 years to welcome the brand new 12-sided £1 coin, when it is issued on 28th March.
The 28th March 2017 is sure to become a historic day as we welcome the new coin which has been billed to become the most secure circulating coin in the world. This will be the first specification change to our £1 coin in more than 3 decades.
But the Thrup’nny Bit deserves recognition for being the inspiration behind our new £1 coin which is sure to become a collecting sensation. The Thrup’nny Bit was eventually withdrawn from circulation in 1971 after the introduction of decimal coinage which didn’t include Three Pence as a denomination. However, its legacy lives on, and is still widely regarded as one of the most iconic coins in British history.
The Story of the new £1 Collector’s Pack
Click here to secure the ‘Story of the £1 Collector Pack’ which has space for you to house the new 12-sided £1 coin once you find it in your change, alongside the UK Brass 12-Sided Threepence Coin.
Bank of England sticks with £5 note despite animal fat concerns
Last year it came to light that the new plastic fivers are actually made using tallow, a substance produced from animal fat.
The news sparked an online petition calling for the Bank of England to stop using tallow in the production of the notes, which has since attracted more than 130,000 signatures. You can read more about this in our previous blog.
The new £5 notes were released into circulation in September and caused a collecting frenzy! The new plastic £10 notes are due to enter circulation in September.
However, yesterday the Bank of England confirmed “that it would be appropriate to keep the £5 polymer note in circulation and to issue the £10 polymer note as planned, in September.”
The Bank said it undertook a careful review of options, including destroying current notes in circulation, reprinting the notes without the tallow additive and delaying the planned introduction of polymer £10 notes but concluded that taking action would be too costly and could put the efficiency of the counterfeit measures at risk.
So do you think the Bank of England’s decision to stick with the plastic notes despite the animal fat concerns is a good or bad idea?
Let us know in our poll:
[polldaddy poll=9666356]
The Great One Pound Coin Race Starts Today – just 250 days to own a complete £1 Coin Collection
You have just 250 days to collect all 24 Round £1 Coin Designs.
They’ve been a part of our lives for 33 years but the Round Pound Coin will be withdrawn from circulation forever on the 15th October this year.
Starting from today, we’re encouraging collectors across the UK, to join the biggest race of its kind ever held – The Great One Pound Coin Race.
It’s totally FREE to enter the Race and by entering you’ll be able to:
- Collect all 24 circulating £1 coins direct from your change
- Receive collecting tips and suggestions to help you complete your One Pound Collection
- Track your progress with the Change Checker web app or on your FREE downloadable £1 Coin Race Sheet
- Swap coins online with other collectors to help complete your collection
- Win exclusive Gold-plated One Pound Coin Race Participant’s Medals
- Receive exclusive participant’s discounts and savings
33 Years of Round £1 Coins. 24 Designs. Gone in 250 days.
The first £1 coin was issued in 1983
The first £1 coin entered circulation right back in 1983 and featured the Royal Coat of Arms as its design. It was quickly followed the next year with a Scottish thistle design, followed by the Welsh leek, Northern Irish flax and the English oak in subsequent years.
In total 24 different designs have entered circulation with five different series representing the component countries of the UK. The remaining four designs have all been variations on the theme of the Royal Coats Arms. A final, twenty-fifth Round Pound Coin was issued by The Royal Mint in 2016 but it never entered general circulation.
Scarce £1 Coins still available for face value in your change
Of course some £1 coins are much rarer than others. It’s partly because mintages of the different designs vary vastly, from less than 1 million coins to over 300 million. But that’s only part of the story. Older issues are also often more difficult to find, especially in good condition.
The 3 lowest mintage £1 coins come from a series of UK Capital Cities issued in 2010/11
The three lowest mintage £1 coins in circulation come from a series of UK Capital City coins issued in 2010/11, with Edinburgh being the rarest with a mintage of 935,000 coins – just 0.04% of all the £1 coins ever struck.
But it’s still possible to find even these rare coins in your change along with all of the other 21 circulation £1 coins. But only for the next 250 days.
Once the 15 October has passed, you will have little chance of building a complete collection of £1 Coins at anything like their face value. So …
on your marks…
Get set…
Go…
The Great One Pound Coin Race is on. Start your race today, before it’s too late.