Thursday, 9 March 2017

The New £1 Coin: Change is coming and it won’t be round for long…

Does having 12 sides mean it’s a dodecahedron?

We’re not sure either (apparently, that’s a 3D polyhedron…) but what we do know is that the new £1 coin will have 12 edges.

So, ahead of its introduction later this month, here are 12 facts about the UK’s latest unit of currency:

     1.  The current, round £1 coin is to be replaced after more than 30 years in circulation.

     2.  It’s to combat the excess of 440 million counterfeits that are currently in daily usage (that’s 1 in 30)     and – with ‘hidden high security features’ – is lauded as the ‘most secure coin in the world’. That’s     all well and good but will all the parking meters, supermarket trollies and changing room lockers         have been upgraded in time?

     3.  The big day is 28th March. Which is a Tuesday. And completely intentional.

     4.  It’s going to look like a 20 pence piece. And could well be worth that amount in just a few years’         time…

     5.  Unless you want to invest in a commemorative £1 coin now. Probably for more than 10 times       
          the price.

     6.  Notable event from history on 28th March: 845 AD – Paris was sacked by Viking raiders, who             then left. Hence the Gallic shrug was born.

     7.  The existing £1 coin will become demonetised on 15th October and cease to be legal      
          tender. Which means a bonanza for Pound Shops all around the country before then. (However, 
          banks should still be accepting them after that for a fixed period.)

     8.  It features a special hologram-like image that changes from a ‘£’ symbol to the number ‘1’ when 
          viewed from different angles. Originally, it was going to be the other way around.

     9.  Notable event from history on 28th March: 1794 – The Louvre opened to the public for the first    
          time. No Viking exhibits though.

    10. Although slightly larger than the round £1 coin, it will be lighter and thinner. This is in recognition 
          of people with weak pockets and whose job involves carrying lots of change.

    11. According to Baroness Rolfe, The Commercial Secretary to the Treasury (and no relation to the 
          pianist or veterinary surgeon from The Muppets): “The fact this coin is made in Wales makes it 
          even more special as it underlines the importance of the Union.” And also coincides with The 
          Royal Mint being located there since 1968.

    12. Notable event from history on 28th March: 1964 – the first pirate radio station, Radio Caroline, 
          was launched off the UK coast. The first song played was ‘Not Fade Away’ by The Rolling Stones.

Let’s hope the new £1 coin benefits from a similar sentiment. For another 30 years, at least.

Until next month...