THE new 12-sided £1 coin enters circulation today as the “round pound” is phased out after more than 30 years.
The new coin has been described as the most secure in the world and includes a hologram to beat fakes, as around one in every 30 used in recent years is thought to have been a forgery.
Based on the design of the old threepenny bit, which went out of circulation in 1971, the new coin includes a gold-coloured outer ring and silver-coloured centre and should be acceptable to around 85 per cent of vending machines in the first few months.
Older coins will still be legal tender until October 15, but the public is advised to bank or spend any stored in wallets or piggybanks as soon as possible.
The new coins have been made at the Royal Mint in South Wales, at a rate of three million per day.
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