New 12-sided £1 coin prepares to edge out old round pound

MON52: New coin enters circulation today – while the old one will still be legal tender until October

A new 12-sided £1 coin enters circulation today, as it starts to edge out the old “round pound” after more than 30 years.

The new coin has been described as the most secure coin in the world and boasts high-tech features, including a hologram.

But consumers craving a snack or trying to park may face confusion when they attempt to pay at coin-operated machines, as some will not immediately accept the new coin.

Tesco trolleys across many of its stores will be unlocked as the supermarket giant performs upgrades so that they can accept the new coin.

The old coin and the new coin will co-exist together for a period of around six months, until the round pound ceases to be legal tender on October 15.

The new coins have been made at the Royal Mint in Llantrisant, South Wales, at a rate of three million per day.

They have a gold-coloured outer ring and a silver-coloured inner ring and are based on the design of the old 12-sided threepenny bit, which went out of circulation in 1971.

It might take a few days or weeks for people to start seeing the new £1 coins turn up in their change as they gradually filter into general use.

The Automatic Vending Association estimates that when the new coin goes into circulation, around 85% of vending machines will be able to accept the new £1 coin and all will still accept the old coin.

Pictures: PA/BBC News. New quid on the block: the 12-sided £1 coin is designed to combat counterfeiting. Above right: BBC Breakfast’s Dan Walker and Louise Minchin.