Yesterday the Treasury announced that the UK’s 12 sided £1 coin would be going global, as overseas territories and Crown Dependencies will soon be able to create their own bespoke versions of the coin to replace the older £1 currently in circulation.
In 2017, the new Nations of the Crown 12 sided £1 made its UK debut, described by the Government as “the most secure of its kind in the world” due to the new design, featuring intermittent milled edges and micro-engraved denomination and year date which protects against criminals producing counterfeits copies. Before this, around 1 in every 30 round pound coins were in fact fakes.
As many territories and dependencies currently circulate their own version of the older pound coin, they will now be able to protect their currency with this secure cutting edge technology. These coins will be produced by The Royal Mint to the same security standards as our UK coinage to thwart counterfeit activity.
The Nations of the Crown £1 was designed by 15-year-old David Pearce following a public competition in 2015. The design is made up of the English rose, the Welsh leek, the Scottish thistle and the Northern Irish shamrock emerging from one stem within a royal coronet to represent the four constituent countries of the United Kingdom.
The Treasury expects the new versions struck for overseas territories and Crown Dependencies to feature images celebrating their heritage, history and culture to symbolise the close links with the UK.
Jersey, Guernsey and the Isle of Man all represent Crown Dependencies of the UK, whilst the UK overseas territories include Akrotiri and Dhekelia; Anguilla; British Antarctic Territory; Bermuda; British Indian Ocean Territory; British Virgin Islands; Cayman Islands; Falkland Islands; Gibraltar; Montserrat; St Helena and Dependencies (Ascension Island and Tristan da Cunha); Turk and Caicos Islands; Pitcairn Island; and South Georgia and South Sandwich Islands.
Robert Jenrick, Exchequer Secretary to the Treasury, said:“These new designs will reflect the rich and varying British communities across the world.”
Lord Ahmad, the overseas territories minister, said: “As well as helping to boost their identity, these new coins will also bring increased security to each of these economies.”
So Change Checkers from overseas territories and Crown Dependencies can look forward to the new coins being released soon, but what design do you think should be featured for each? Let us know in the comments below.
Is this the last Isle of Man Round Pound?
In 2017 the Isle of Man released this Raven and Falcon Uncirculated £1 Coin and following the Treasury’s update, this could now be the very last Isle of Man Round Pound!
For two weeks of the year since 1907, the small island of the Isle of Man plays host to the most dangerous motor racing event in the world…
The prestigious Isle of Man TT takes place on public roads spanning 37.73 miles around the island, with over 200 sharp twists and bends and rising up to 1,300ft off sea-level!
Last year, to celebrate the 110th anniversary of the TT Races, a £5 was issued depicting the famous Senior TT Trophy to celebrate the renowned event.
And the popularity of the Isle of Man TT races has resulted in a very special release for 2018…
The coin has been re-issued and re-dated for 2018. The brand new coin features the same design as last year, depicting the esteemed senior TT racing trophy, the pinnacle of road racing awards. The trophy itself features Mercury, the Winged God of the Messengers from Roman Mythology standing atop a winged wheel.
As collectors know, a re-struck coin does not happen very often so we expect this to be snapped up quickly.
Special 2018 striking date IOM TT Races Senior Trophy £5
The ultimate addition to any coin collection. The coin features the IOM TT Senior Trophy with a special 2018 striking date – a rare occurrence and one that will make this coin hugely collectable to not only TT Race fans but sharp-eyed collectors.
Last year, the coins of the Isle of Man made the headlines. Not only did all their circulation coins have a total redesign, the first in 13 years, they also announced that they would continue to issue ’round pound’ coins rather than opting to use the paper £1 note like both Jersey and Guernsey did.
The coins feature a new effigy of Her Majesty Queen Elizabeth II, created by designer and sculptor Jody Clark, which will also be used on all coins from Crown dependencies and Commonwealth countries. The outer description includes the Queen’s full title, country of issue and year of issue.
The iconic design of the 2017 Isle of Man £5 coin features the Triskelion (three armoured legs) which is arguably the most known symbol of the island and is included in both the coat of arms and the flag of the Isle of Man.
But while this fitting Triskelion design features on the reverse and the new effigy of Her Majesty the Queen features on the obverse, that’s not what makes this coin so interesting…
You may or may not know this about the Isle of Man…
The Isle of Man is in fact the only Crown dependency country that circulates their £5 coins, meaning you could find this coin in your change… and spend it!
But if you’re ever lucky enough to find one in your change I’m sure you won’t want to spend it, as it’s certain to have one of the lowest mintages for any British Isles circulation coin.
A further difference between this coin and the traditional UK commemorative £5 is the size…
The IOM £5 coin is just over 6mm smaller in size at 32mm (UK £5s measure 38.61mm) and weighs in at just 11.7g (compared to 28.28g for a UK £5) so is reasonably light to carry around in your pocket or purse.
So tell us… would you spend this £5 coin if you found it on the Isle of Man?
Own the ONLY British Isles circulating £5 coin
The Isle of Man is the only part of the British Isles to use a genuinely circulating £5 Coin. Become one of the few people to own this coin by securing one for your collection today >>