new £1 coin from 2017

17 Dec

london 11.28am thursday 2015

the times report that yesterday the last round £1 coin was produced by the royal mint ending 3 decades(1983) of production and starting a 12 sided coin to enter circulation in 2017.

too many fake £1 coins in circulation now as it is so easy to fake.

2million fake ones removed every year, 3% are fakes (47million).

about 2billion coins were made, 1.5billion in circulation. added. seems the new £1 coin is the size of the £2 coin, but with 12sides.

that is not wise, heavier, bulkier coin means more dragging down of pockets. hope they will reduce the size and the weight of it when final decision time arrives.

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4 Responses to “new £1 coin from 2017”

  1. Carl D'Agostino Thursday December 17, 2015 at 11:50 am #

    I wonder if it’s worth the cost. Consumer economies are driven by consumers with money.

    • alifesgayventure Thursday December 17, 2015 at 12:38 pm #

      According to the Treasury a pound coin is made up of 70% copper, 24.5% zinc and 5.5% nickel. A single pound coin weighs 9.5 grams so… The cost of raw materials required to make a pound coin is $0.056239525 or £0.037999679.
      perhaps the new coin will cost a bit more, but whatever, it is worth it to make a coin, rather than a note. coins last longer.

  2. Garfield Hug Thursday December 17, 2015 at 1:55 pm #

    12 sided?! I wonder how it would look like 😉

    • alifesgayventure Thursday December 17, 2015 at 2:16 pm #

      the link goes to a bbc article and there is a picture of the coin there. looks very nice.they say it is harder to fake.

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