The New 12-Sided Pound Coin
The Royal Mint has officially introduced the new 12-sided £1 coin. Businesses across the UK need to adapt to this change, with coin counting and sorting equipment capable of processing both the old-shape and new-shape coins. Cummins Allison coin sorters can process the new £1 coin.
As a leading innovator of currency processing solutions, Cummins Allison was in consultation with the Royal Mint to ensure our machines were ready to accept this new coin well in advance of it being put into circulation.
For organisations that want to replace their equipment, we have a range of machines that offer fast and efficient coin sorting and counting. From the compact JetSort 1000, ideal for smaller operations, to the JetSort LX, with processing speeds of up to 4,100 coins per minute, our machines all offer 99.995% accuracy, utilising the industry's only exact-stop technology. View the full range here. As the UK currency changes, customers can rely on Cummins Allison to provide upgradeable, reliable coin processing solutions that are ready for the future.
Why the £1 coin was replaced
The old £1 coin had been in circulation for over thirty years, which is much longer than the normal life cycle of a modern British coin. All high value coins need occasional redesign to keep one step ahead of the counterfeiters. Over time the old £1 coin become increasingly vulnerable to highly sophisticated counterfeiting, so it was important to update the design to protect the long-term integrity of the currency.
The new £1 coin design is distinctly British, with a twelve-sided shape which evokes memories of the pre-decimalisation threepence piece. It is constructed from two different coloured metals and contains a proprietary security feature - a revolutionary new high security coinage currency system developed by the Royal Mint. This enables not just coins, but the whole cash cycle to be more secure, protecting the public, vending machine operators, retailers, and the wider banking system.
When was the new £1 coin introduced
The new £1 coin was introduced on March 28, 2017.