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Sunday, 9 April 2017

474) The new 12-sided One Pound UK coin put into circulation on 28.03.17: Salient features: Demonetisation of the presently circulating “round one pound coin” by 15.10.2017:



474) The new 12-sided One Pound UK coin put into circulation on 28.03.17: Salient features: Demonetisation of the presently circulating “round one pound coin” by 15.10.2017:

I have an interesting post on the evolution of the UK One Pound coin introduced in 1983 and the legends and stories that it represents, which can be accessed at the following link: The contribution of the Great British One-Pound coins in keeping alive the historical legends/emblems/heritage of the UK (1983 onwards)

The story since 1983, when the “Round Pound” was introduced for the first time to replace the One Pound Banknote:

Since 1983 when the round one Pound coin was introduced it has reflected themes of heraldry, Royal Arms, floral symbols as well as important regional landmarks representing England, Wales, Scotland and Northern Ireland. Throughout its 34 years in circulation, there have been 24 designs in all, created by 8 different designers.

The necessity to go in for a new design with enhanced security features:

There are presently an estimated 45 million pounds worth of counterfeit round coins in circulation which have undermined the “prestige” and confidence of the user public in the presently circulating “round pound”.

Introduction of the new Design 12-sided one pound coin:

On 28.03.2017, a new design 1 pound coin, with the Reverse designed by David Pearce, (selected through a public design competition which commenced in 2014) has been introduced into circulation, which has been described by the Royal Mint as the “most secure coin in the world”.

This is the most innovative coin ever produced by the Royal Mint. A showcase for the latest technology, as well as engraving skills honed over the Royal Mint’s 1,000 year history, this coin has been designed to be fit for the future, using security features that aim to safeguard the denomination for several years ahead.

The 12-sided shape and bimetallic composition are targeted at combating the challenge of sophisticated counterfeiting. The Royal Mint’s patented “High Security Feature” has added to its claims as being the “most secure coin in the world”.

The salient features of the new 12-sided one pound coin:

The new coin exhibits the following interesting features and will be the sole circulating one pound coin once the “round pound” is withdrawn from circulation:
 An image of the Reverse of the new one pound coin. The design is an interpretation of the floral symbols of the UK; the Welsh Leek, the Scottish Thistle, the Northern Irish Shamrock and the English Rose. Below the image on the lower periphery is the denomination of the coin "One Pound" (in words)

i) It has 12 sides, reminiscent of the old three-penny coins.

ii) It is bimetallic – made of two metals – a nickel brass alloy.

iii) It has alternating milled and smooth edges.

iv) User testing has shown that the 12 sides of the new 1 pound coin and the milled edges make it easier to identify by visually challenged persons.

v) It has a latent image – a bit like a hologram, the image changes from a “pound symbol” to the number “1” when the coin is seen from different angles.

vi) It has micro-lettering on both sides of the coin – the first time that micro-lettering like this has appeared on a UK coin.

vii) It also has a hidden high security feature, which replicated Banknote level security for the first time on a coin minted by the Royal Mint.

Viii) The new 1 pound coin features the fifth effigy of the Queen made by Royal Mint Designer Jody Clark.
 An image of the Obverse of the new one pound coin showing the portrait of QE II designed by Jody Clark. His initials "JC" appear below the Queen's neck. Along the periphery are the inscriptions - "2017. ELIZABETH II. D.G. REG. F.D." (meaning "Elizabeth II, By the Grace of God Queen, Defender of the Faith")

ix) The new coin is thinner, lighter and slightly larger than the round pound – it is 2.8 mm thick, has a diameter of 23.03 mm and weighs 8.75 grams.

x) The new pound coin although entering into circulation on 28.03.2017 is dated both 2016 and 2017, as minting of this coin had begun last year in 2016.

xi) On 28.03.2017 itself, 300 million new 1 pound coins have been issued to cash centres across the country to facilitate easy distribution among users.

xii) More than 1.5 billion new coins will be struck by the end of 2017.
A stack of the new 12-sided one pound coin shows the Reverse of the coin 
xiii) The round pounds are being gradually withdrawn from circulation, with around 50 million pieces having been already removed from circulation so far. The Round pounds will cease to be legal tender on 15.10.2017.

xiv) Limited editions of this coin have also been issued in Proof, Silver Proof and Brilliant Uncirculated Qualities for Collectors/Numismatists.
                            Commemorative Proof Quality coins

Trial Pieces:

Interestingly, the Trial pieces for this coin issue were minted in 2015 and about 200,000 pieces were distributed among retailers to help them prepare for the new pound coins’ issuance. These coins are not legal tender. These trial pieces have the same specifications as the regular issues released now and are marked “TRIAL PIECE”.
 The Obverse and Reverse of a Trial Piece issued with the year as 2015. Notice that the Trial piece has an image of the Queen which has been designed by Ian Rank-Broadley, the previous designer of the Queen's portrait. His initials "IRB" appear below the Queen's neck.

Several listings have gone up on sites like eBay where these Trial Pieces are being sold for anywhere between 85 to 220 pounds each by some retailers out to make a quick profit from these specimen pieces.







Links:

Bank of England Banknotes:

1) A Ten Pounds Banknote issued on Charles Dickens (Writer) also depicting a cricket match from his novel "The Pickwick Papers"

2) A Ten Pound Banknote issued on Charles Darwin (English Naturalist) also depicting the HMS Beagle, Darwin's magnifying glass, a humming-bird & flora that he may have seen on his voyage.

3) A Five Pounds Banknote issued on George Stephenson (an Engineer) also depicting "Rocket" his Railway Locomotive and Skeene Bridge on theStockton Darlington Railway (1825) - since withdrawn

4) A 20 Pounds Banknote issued on Michael Faraday (a Scientist) issued in 1991, since withdrawn from circulation in 2001 

5) Great Britain's first circulating polymer Banknote issued by the Bank of England in the denomination of 5 Pounds on 13.09.2016

Inspirations from Scottish History (Clydesdale Bank Banknotes): 

1) The Legend of King Bruce & the Spider on Banknotes
  
2) Commemorating Sir William Arrol and his creation the Forth Rail Bridge by issues of Britain's first ever 5 Pound Polymer Banknote

Banknotes from Bank of Scotland:

1) The Ryder Cup Commemorative Banknote: A 5 Pounds Banknote issued by the Royal Bank of Scotland in 2014 

British Crown Dependencies:

1) Specimen Banknotes from the States of Jersey

2) Coinage and Currency from the States of Jersey

3) Currency & Coinage of the Bailiwick of Guernsey

4) Currency & Coinage of Gibraltar : An Overseas Territory of Great Britain

5) Coinage of Gibraltar: (A British Overseas Territory): An Uncirculated Decimal Coin Collection Set minted by the Tower Mint, UK in 2010
  
6) The Isle of Man: An Uncirculated Decimal Coin Collection Set minted by Pobjoy Mint, UK in 2015

7) The Centenary of the ill-fated Titanic (15.04.1912 - 15.04.2012): An Alderney Five Pound Coin Commemorating the Maritime Legend

8) "Man of Steel": A Superman Movie: A set of stamps brought out in 2013 by Jersey post, the States of Jersey, commemorating Henry William Dalgliesh Cavill who played Superman in the Movie

9) Coins & Currency of Bermuda

10) The Bailiwick of Jersey - Presently circulating coinage - Pounds and Pence 

11) St. Helena & Ascension Islands: An Uncirculated Coin Set from 2003 

12) The Legend of the "HMAV Bounty" is interwoven with the heritage of the Pitcairn Islands: An uncirculated coin set from Pitcairn Islands in 2009 depicting the icons/relics of the Bounty minted by the New Zealand Mint

13) Currency of the Falkland Islands: A British Overseas Territory (BOT) Pounds & Pence

Famous Battles

1) Bicentenary of the Battle of Waterloo and Napoleon's Exile to St. Helena: (Part I): A One Crown Commemorative coin issued by the Ascension Island (minted by Pobjoy Mint UK) 

2) Bicentenary of the Battle of Waterloo and Napoleon's Exile to st. Helena: (Part II) 1) A 5 GBP Coin issued by the Royal Mint UK. 2) A"Drie Landen Zilverset" ( ot the "Three Lands Silver set") containing coins issued by the Royal Dutch Mint including coins of Netherlands, Belgium and UK

3) Commemorating the 75th Anniversary of the Battle of Britain by issuing a 50 Pence coin by the Royal Mint UK

Gold Coins:
  
1) Gold Sovereigns issued in 2013 & 2014 by MMTC-PAMP in India under licence from the Royal Mint, UK, carrying the "I" Mint Mark

2) Gold Half-Sovereigns minted by MMTC-PAMP in India in 2014 under licence from the Royal Mint UK bearing the "I" Mint Mark 

Silver Coins:

1) A 20 Pound Silver coin minted for the first timr by the royal Mint UK: reverse design carries the famous St. George slaying the dragon design found on Gold Sovereigns 

British India Coinage:

 1) East India Company Quarter Anna Copper Coin which is one of the first issues under the Coinage Act 1835

2) Victoria Coinage: When she was Queen and afterwards Empress

3) Edward VII: King & Emperor  Coinage

4) George V King Emperor Coinage

5) George VI: The last of the British India Emperors Coinage 

Other British Royalty: 

1) Queen Elizabeth II's Diamond Jubilee Celebrations (1952-2012): A Five Pound Commemorative coin issued by the Royal Mint, UK

2) Commemorating Queen Elizabeth II's Coronation in 1953: A Five Pound Coin minted by the Royal Mint UK in 2013, depicting the Imperial State Crown

3) The Royal Coat of Arms of the UK: Great British 2012 Coin Set (Uncirculated) issued by the Royal Mint UK

4) Prince George's Christening Ceremony celebrated with coins issued by the Royal Mint UK in 2013

5) The British Empire:  A Case of Numismatic "segregation": (Guest Post by Rahul Kumar)

6) 1) The Portrait Collection: Various Portraits of Queen Elizabeth II on Coinage 2) The Fourth & Final Circulating coinage of the Portrait designed by Ian Rank-Broadley and the First Edition of the portrait of the Queen made by Jody Clark

 British Coinage:

1) The contribution of the Great British One-Pound coins in keeping alive the historical legends/emblems/heritage of the UK (1983 onwards)

2) Transformation of a Five shilling Coin (Crown) into the UK Twenty-five Pence & then the Five Pound Coin

3) Transformation of the Two Shilling Coin (Florin) Coin into the UK Ten Pence

4) The 350th Anniversary of the Guinea: A Two Pound Coin issued by the Royal Mint UK celebrating the milestone

5) The new 12-sided One Pound UK Coin introduced into circulation on 28.03.2017

 Commemorative British Coinage:

 1) Commemorating the Bicentenary of Charles Dickens: A Two pound coin celebrating his literary contributions during the Victorian Era

 2) Commemorating 50 Years of the World Wildlife Fund (WWF) - presently called the World Wide Fund for Nature by issue of a Fifty Pence coin by the Royal Mint, UK

3) Coins commemorating London Olympics & Paralympics (2012)

4) Commemorating 150 Years of the London Underground : Two pound Coins minted by the Royal Mint UK, showing the "Roundel" logo and a train emerging from a tunnel 

5) Commemorating the 100th Birth anniversary of Christopher Ironside with his" Royal Arms" design on a 50 Pence coin issued by the Royal Mint, UK 

Postage Stamps:

1) 800th Anniversary of the Magna Carta - the Universal Guidepost to Liberty and Freedom

 2) "Man of Steel": A Superman Movie: A set of stamps brought out in 2013 by Jersey post, the States of Jersey, commemorating Henry William Dalgliesh Cavill who played Superman in the Movie

3) Celebrating the Centenary of Agatha Christie's first Crime Novel and 40th Anniversary of her passing away by issue of a set of 6 stamps by Royal Mail, UK 

4) Queen Elizabeth II's 90th Birthday: A Souvenir Sheet issued by the Royal Mail, UK featuring four generations of Windsors on 21.04.16 





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