The government has announced they will introduce and new 12-sided £1 coin, the coin is going to be the same shape as the old three-penny, popular during World War Two. The new £1 a new security technology used in bank notes is being embedded into coins that are expected to help forgeries. The coin that is being introduced in 2017 is a part of his annual budget announcement in parliament. The new £1 coin will be made in Wales. Here is something Andrew Mills, the Royal Mint’s director of circulating coin says: “The
technology that has been available in bank notes for 20 years but now we can actually use it in a coin.” The coin will be replaced in 2017 after the Treasury announced that 3% of current £1 coins in circulation are
fake. This new £1 coin will be the most secure coin in circulation in the world.
The Queens face will go onto the “heads” side, but the treasury said that there will be a public competition to decide on the design for the “tails” side. The new coin will be armed with new Integrated Secure Identification System (iSIS) technology developed by the Royal Menthe new coin will be armed with new Integrated Secure Identification System (iSIS) technology developed by the Royal Mint. The current pound has become vulnerable, the finance ministry said, with about 3 percent of all 1-pound coins, or 45
million, believed to be forgeries. That figure rises to 6 percent in some parts of the country. ISIS has three tiers of banknote-strength security and can be automated detection at all points within the cash cycle. Public consultation will be held over the summer to consider the metal composition and to weigh up the impact of the new-shaped coin. The proposed new coin will be roughly the same size as the £1 coin.
Rebecca
technology that has been available in bank notes for 20 years but now we can actually use it in a coin.” The coin will be replaced in 2017 after the Treasury announced that 3% of current £1 coins in circulation are
fake. This new £1 coin will be the most secure coin in circulation in the world.
The Queens face will go onto the “heads” side, but the treasury said that there will be a public competition to decide on the design for the “tails” side. The new coin will be armed with new Integrated Secure Identification System (iSIS) technology developed by the Royal Menthe new coin will be armed with new Integrated Secure Identification System (iSIS) technology developed by the Royal Mint. The current pound has become vulnerable, the finance ministry said, with about 3 percent of all 1-pound coins, or 45
million, believed to be forgeries. That figure rises to 6 percent in some parts of the country. ISIS has three tiers of banknote-strength security and can be automated detection at all points within the cash cycle. Public consultation will be held over the summer to consider the metal composition and to weigh up the impact of the new-shaped coin. The proposed new coin will be roughly the same size as the £1 coin.
Rebecca