The Royal Mint initially predicted that the number of new 12-sided £1 coins in circulation would overtake the Round £1 Coin by August this year.
However, due to the amount of coins that have already been returned, 8 million in total, the date has been revised to as soon as late July. Of the returned coins, most will be re-used to produce new 12-sided £1 coins, with the rest being disposed of.
This is important news for industries that deal in large quantities of £1 coins, such as vending and arcade machines, who’ll need to bring forward their machine conversation date.
Most importantly, for Change Checkers this means it is going to become increasingly challenging to complete The Great One Pound Coin Race. However, we know that you love a challenge and we’re here to help you get across the finishing line.
For all the best Round £1 Coin collecting hints and tips, take a look at our video:
For the brave ones amongst you, you can still sign up to The Great One Pound Coin Race, there’s still over 100 days to go!
The Great One Pound Coin Race is well underway and lots of you have already managed to complete a full collection of £1 coins.
For those of you that haven’t don’t worry, there’s still time… but it is getting harder!
You’ve only got until 15 October to find all 24 circulating £1 coin designs so here are the Top 10 tips to complete your collection.
Since the release of the new 12-sided £1 coin last month, the new £1 has been turning up everywhere, and that means the round pounds will start to slowly disappear. That’s because the banks will stop issuing the round pounds and will start to take them out of circulation.
Lots of you have also come forward with your own tips and tricks for finding £1 coins…
How to enter the Great One Pound Coin Race
If you haven’t started your Great One Pound Coin Race yet, it’s not too late. Simply click here to enter today and you too could own a complete collection of £1 coins direct from your change before they’re gone for ever.
Over the next few weeks we’ll be asking you to vote for your favourite £1 designs from each design category – UK, Scotland, Wales, Northern Ireland and England.
Let us know your favourite UK £1 coin design by voting in our poll below:
More information about the UK £1 coin designs
The £1 Coin was first issued in 1983 as a replacement for the less robust £1 note – a note lasted for just 9 months on average, while a £1 coin can survive in excess of 40 years. The first £1 coin design features the Royal Coat of Arms designed by Eric Sewell, chief engraver at the Royal Mint.
In 1988 a Crowned Royal Shield of Arms design was introduced. This design features the Royal Arms of Her Majesty The Queen, surmounted by the Crown of St Edward. All coins dated 1988 feature this design as this was the only year it was issued.
In 2008 a new reverse design for the £1 was issued featuring the Royal Shield of Arms – designed by Timothy Noad. The edge inscription in Latin reads DECUS ET TUTAMEN which translates as; An Ornament and a Safeguard. This dates back to the first machine struck coins minted in 1662 and refers to the inscription itself which was intended to prevent people scraping valuable metal off the edge of the coin – a process known as ‘clipping’.
In 2015 The Royal Mint revealed a new £1 Coin design. Timothy Noad’s contemporary adaptation of the traditional Royal Arms design is one of the last commemorative designs to feature on the round pound coin, with the newly shaped coin due to enter circulation in 2017.
This 2016 £1 coin is the final ‘round pound’ issued by the Royal Mint, calling time on a coin which was first issued more than thirty years ago. The reverse design features the animals that represent each of the four constituent UK countries and was designed by Gregory Cameron. This coin will not enter general circulation and is only available to buy in a Brilliant Uncirculated quality.
Next week- Part 2: What’s your favourite Scottish £1 coin design?
If you want to get your hands on the last ‘round pound’ they are available here protectively encapsulated and certified as superior Brilliant Uncirculated quality.