Billionth new pound coin rolls off production line

10 July 2017, 03:00

New pound coin

The billionth new £1 coin has rolled off the Royal Mint production line in South Wales.

The milestone has been reached with less than 100 days until the old "round pound" stops being legal tender.

The new 12-sided pound coin entered circulation in March with new high-tech security features to make it harder to counterfeit, as around one in thirty of the old style £1 coins are thought to be fake.

It's estimated the number of new coins in circulation will overtake the old "round pound" by mid-July. 

But shoppers are being urged to dig out their old pound coins from wallets, piggy banks and the back of the sofa before the old pound coin stops being legal tender in October.

The Treasury said research suggests one in three people still have old pound coins stashed away.

The Royal Mint's production line in Llantrisant has produced more than two billion round pound coins since it replaced the £1 note in 1983.

Chief executive and deputy master of the Royal Mint, Adam Lawrence, said: "Many of the old round pounds returned will be melted down to make the new coins so we're asking everyone across the UK to make sure they check their coin jars and piggy banks for round pounds."

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