Production of the new £1 coin began yesterday as the Chancellor, George Osborne announced it will enter circulation in March 2017. 

The current £1 coin is being replaced for the first time in over 30 years because of its vulnerability to sophisticated counterfeiters. The new £1 to be issued from March 2017 will be a 12-sided, bi-metallic, bi-colour coin with milled edges. It will weigh 8.75g and will have a diameter of 23.43mm from point to point (23.03mm edge to edge). The edge thickness will be 2.8mm and the metallic composition is: nickel-brass outer; nickel-plated solid alloy inner. When the new £1 coin enter circulation during March 2017 it will become the most secure coin ever. HM Treasury and The Royal Mint also announced that following the introduction in March 2017 there will be a six-month period of co-circulation, where the current £1 and the new £1 coins will both be in circulation. More information is available at: https://lnkd.in/eskSwxN

All ITL coin hoppers will accept the new coin after a simple, free currency update. More information will follow on our website and within our Technical Bulletins.