The New One-Pound Coin
Last week the new design for the one-pound coin was released; set to be introduced in 2017, the coin was described as the ‘most secure coin in the world’ by the Royal Mint. The 12-sided coin generally went down well with the panel, with just over 70% commenting positively towards the change. A few members of the panel felt that the coin would be great for the visually impaired, as such a different shaped coin would be easily recognisable to touch.
Similar to the threepenny bit that circulated between 1937 and 1971 – although only a small proportion of our panel compared the two coins. Many described the coin as modern, innovative and ‘a little bit different’. Although our panel were torn when it came to the introduction of the coin, many of the younger members of the panel associated the current one-pound coin with tradition and heritage. Some felt we are in too much of a rush to make everything modern – although the coin was only introduced into the UK in 1983 replacing the one pound note. It seems that the current coin holds much more importance to the younger generation that grew up with the one-pound coin.
One member of the panel described the coin as a ‘love child between the 50p and £1 coin’, others saw the coin replacement as ‘a bit of a faff’. It seemed a number of the panel were concerned with the cost attached to accommodate for a brand new coin, for example on self-service check outs or parking machines – that really the extra cost will not make the change worthwhile. Although the majority of the panel recognised the need to combat counterfeit pound coins in current circulation and embraced the change.