Why Did the UK Change the Pound?

Posted by Derek Sawchenko on

The Royal Mint of the United Kingdom minted the last round of £1 coin, the last round pound coin in 2015. The £1 coin was first minted in 1983. It was used to replace the pound (£1) banknote. The pound coin is known for the yellow color, thickness, and roundness. The first design of the coin depicts the United Kingdom’s Royal Arms; the design was by Eric Sewell. Over the years, its design has changed and issues during the following years: 1984, 1985, 1986, 1987, 1988, 1994, 1995, 1996, 1997, 2004, 2005, 2006, 2007, 2008, 2010, 2011, 2013, and 2014. Designs of the coin range from depiction of Royal Arms, royal diadems, and emblems of countries. The current pound coin, designed by Timothy Noad, displays a depiction of Scotland’s floral emblem. Due to the number of counterfeit coins that are circulating, the Royal Mint has decided to replace the round coin with a twelve sided one which was released in 2017. 

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