World Coins

What you need to know about the UK's new pound coin

A public competition that began last September yielded this latest £1 coin reverse design.

Image courtesy of Royal Mint

1. Ditching the round pound

Yesterday Coin World reported that a reverse design for the Royal Mint's new £1 coin had been selected. A lot of readers might have said to themselves, "What new pound coin?"

If you're one of those readers, here's what you need to know:

  • Currently, the £1 coin is a small, round coin.
  • As many as 3 percent of those round £1 coins (about 45 million) are fake, according to a survey by the Royal Mint.
  • The Royal Mint announced last March that a larger, ringed bimetallic, 12-sided pound coin will be put into circulation to combat the counterfeiting trend.
  • The new coin will debut in 2017. 
  • The reverse design of the new coin was determined via a public competition.
  • On Wednesday, it was announced that the winning submission (pictured above) was designed by 15-year-old student David Pearce. 
Check back with Coin World for further coverage.
2. Doolittle Tokyo Raiders
"Presentation of the congressional gold medal recognizing the Doolittle Tokyo Raiders of World War II fame is scheduled for April 15 in Emancipation Hall of the Capitol Visitor Center in Washington, D.C."
3. New Chinese release
"China’s latest issue of commemorative coins is a historic event for modern Chinese coinage." Read why.
4. Precious metals pricing listed the following prices per ounce at 11:50 a.m. ET Thursday:

5. Yesterday's most-read post

Low-mintage 'King of Morgan dollars' example sells for nearly $40,000

6. Being social

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