today the new security conscious 12 sided one pound coin has been released. So what brought about this significant coinage update, currently there are approximately 30 billion coins in circulation across the UK, of which 2.5% are fake. Now 2.5% doesn’t sound a lot but when you put it into monetary terms that is 1.6 billion pounds worth of fake money in circulation, you may have one in your pocket now, without even realising! Well you have up until the 15th October to spend your round pounds, after which shops all over the UK will stop accepting it, and you will have to make a visit to ye old bank to cash in your coins.
But what is so special about the new 12 sided coin? It is considered the most secure coin in the world, for several reasons.
- Its 12 edges makes it harder to forge and easier to recognise
- There is a hologram, or latent image as it’s called in the coin world, etched on one side that changes when tilted from a 1 to a pound sign and vice versa
- Minute engraving on the rim of both sides of coin, very hard to counterfeit
- The milled edges on each side ad an extra barrier for forgers wanting to make fake coins
- Above all there is a secret security feature built into the coin, so secret that there are no details on what they are, but allow the coins to be easily scanned and verified!
In our industry we must sell hundreds of thousands of trolley coin keyrings a year, an element we’ve already been on top of with a mould already created and 12 sided trolley coin keyrings already running of the production line, ready for when supermarkets and locker suppliers across the country to update their technology!