Britain's new pound coin enters circulation
Britain's new pound 1 coin goes into circulation from today.
LONDON (AFP) - Britain s new pound 1 coin with the symbols of England, Scotland, Wales and Northern Ireland goes into circulation from Tuesday on the eve of the launch of a Brexit process that has put national unity in doubt.
The 12-sided coin is the first change to the shape of the pound 1 coin since its introduction in 1983. Britain s finance ministry said the new coin would be "the most secure of its kind in the world" to prevent a rise in counterfeits.
About three percent of the current round-shaped coins are fakes.
The new pound coins will be thinner, lighter and slightly bigger than the old ones and will have a hologram-like image that changes from a " pound" symbol to the number "1" when viewed from different angles.
"Staying ahead of sophisticated counterfeiters remains a constant challenge and this coin helps in that battle," said Adam Lawrence, head of the Royal Mint, which is producing around 1.5 billion new coins.
The new bi-metallic coin has the same shape as the popular old "Threepenny bit" that was introduced in 1937 and went out with decimalisation in 1971.
Queen Elizabeth II s portrait will be on the obverse side of the coin, while England s rose, Scotland s thistle, Wales s leek and Northern Ireland s shamrock will be on the other side, held in a crown.
The old coins cease to be legal tender on October 15.
Prime Minister Theresa May on Wednesday is set to formally notify the European Union of Britain s intention to leave the bloc in a process that has caused a steep plunge in the value of the pound compared to the euro and dollar.
The United Kingdom as a whole voted to leave the EU in a referendum last year.
Most voters in Scotland and Northern Ireland wanted the UK to stay in the EU, but a majority in England and Wales opted for Britain to leave the bloc.
