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General Chat Thread, The new £1 coin in General; ...
  1. #1


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    The new £1 coin

    What do you think? Better than the old £1 coin?

    Source: BBC

    A new £1 coin, designed to be the "most secure in the world", is set to be introduced in 2017.

    It comes amid concerns about the 30-year old coin's vulnerability to counterfeiting, with an estimated 45 million forgeries in circulation.

    The new coin is based on the design of the old 3d (three penny) piece, or threepenny bit, a 12-sided coin in circulation between 1937 and 1971.

    A competition will be held to decide the image on one side of the coin.

    The Royal Mint, which believes 3% of existing £1 coins are fake, said the move would increase "public confidence" in the UK's currency and reduce costs for banks and other businesses.


    Last edited by Arthur; 18th March 2014 at 11:05 PM.

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    GREED's Avatar
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    It looks like a quality street!

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    Marshall_IT's Avatar
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    Quote Originally Posted by GREED View Post
    It looks like a quality street!
    Ha! .

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    It reminds me a little of Coinye.


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    speckytecky's Avatar
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    Ironic that it's threepenny bit shaped - here in 2014 it's probably worth about the same in actual buying power as the genuine article was at it's demise in 1973!

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    I think there's a danger that unscrupulous people will file the edges off and pass them off as 10p!

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    FN-GM's Avatar
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    They should get rid of the £1 coin and have plastic £1 notes instead. Hate carrying around coins.

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    It will cost us a fortune, all car parks machines will need to be changed, vending machines, shopping trolleys everything that takes a £1 of today will have to be changed and this means higher costs on those machines we use everyday as the new one has just cost a fortune to put in so they need to get their money back someway! It's stupid yet another government theme thought up to force people to spend more unnecessary money and put it back in the economy, and for what.... a new coin!

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    sparkeh's Avatar
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    Quote Originally Posted by FN-GM View Post
    They should get rid of the £1 coin and have plastic £1 notes instead. Hate carrying around coins.
    Along with this, can retailers just stop making things 1p less than a full pound (eg 99p, £1.99 etc) its very irritating and we know what they are doing!

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    If ever there was a subject where everyone was going to throw in their tuppence worth...

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    JJonas's Avatar
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    Could be time for my dad to sell his thrupenny bit collection.

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    rich_tech's Avatar
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    I think sadly its a necessary evil this, pound coin counterfeiting is rife to the point where its not really checked anywhere from what I can see, you can tell easy enough at the moment which ones are fake or not too, usually horrible machining of the writing on the edges.

    New design doesnt seem that bad to me, nice and quirky

  16. #13

    FN-GM's Avatar
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    Quote Originally Posted by sparkeh View Post
    Along with this, can retailers just stop making things 1p less than a full pound (eg 99p, £1.99 etc) its very irritating and we know what they are doing!
    They do it in Australia. They don't have 1 & 2 cent coins. But they sell stuff at 99c so it gets rounded to $1 anyway. Why bother?

  17. #14

    sparkeh's Avatar
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    Quote Originally Posted by JJonas View Post
    Could be time for my dad to sell his thrupenny bit collection.
    Vintage Page 3 collection?

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    Quote Originally Posted by alexbillbridgnorth View Post
    It will cost us a fortune, all car parks machines will need to be changed, vending machines, shopping trolleys everything that takes a £1 of today will have to be changed and this means higher costs on those machines we use everyday as the new one has just cost a fortune to put in so they need to get their money back someway! It's stupid yet another government theme thought up to force people to spend more unnecessary money and put it back in the economy, and for what.... a new coin!
    Coin mechanisms tend to have a limited life anyway. Mostly machines will just be replaced as they are due. Some machines are easy to configure for new coinage - it's something that happens from time to time, so good designers factor it in.

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