THE new 12-sided one pound coin entered circulation today, featuring a shamrock as part of its eye-catching new design.
The replacement coin has been brought in due to concerns over the round pound’s vulnerability to counterfeits.
It has been described as the most secure in the world and even features a hologram to make the work of con artists that bit more difficult.
As well as its impressive security features, the new coin also reflects England, Scotland, Wales and Northern Ireland, with a rose, a thistle, a leek and a shamrock – arguably Ireland's most recognisable symbol.
The old pound coin will co-exist with the round pound until October, when the old denomination ceases to be acceptable as a legal tender.
But Britain isn’t the only country getting its hands on new money – with a new €50 note set to be introduced in Ireland next week.
New €5, €10 and €20 notes have already been released by the European Central Bank (ECB) as part of their new ‘Europa’ series.
We love that the new #poundcoin represents Great Britain! The English Rose, Scottish Thistle, Irish Shamrock and Welsh Leek! #unitedkingdom pic.twitter.com/uvAxq9ZaIQ
— Maitland Walker LLP (@MW_Solicitors) March 28, 2017
Ireland’s new notes have also been prompted by security concerns and feature embossing, watermarking and its own hologram to put off counterfeiters.
The ECB say the notes are “very easy” to check using the ‘feel, look and tilt’ method.
Irish people handling notes are encouraged to first feel the paper for a firm texture as well as a raised print, before looking at the note against a light for watermarks and a hologram of a window.
If the authenticity of a note is still in doubt, the ECB advise tilting it to reveal its ‘emerald number’ – shiny digits which change from emerald green to deep blue when moved up and down.
The new #poundcoin has the Scottish thistle and Irish shamrock on it. Given what Brexit is doing, I take it they won't be there for long.
— Christian DeFeo (@doctorcdf) March 28, 2017
According to The Royal Mint, as many as 1 in 30 pound coins in Britain could be a dud.
There have been concerns that the new coin could present a number of teething problems for British businesses.
One of those likely to be affected is Tesco, with shopping across its 3,500 British stores requiring one pound coins to use them.
The retailer reassured customers last week that trolleys across affected stores will remain unlocked until upgrades can be made.
See More: Denominations, Featured, Money, Pound Coin
