# Charities urged to prepare for the new pound coin

- Link: https://fundraising.co.uk/2016/10/31/charities-urged-prepare-new-pound-coin/
- Published: 2016-10-31T16:12:39+00:00
- Author: Howard Lake

**The familiar £1 coin will not be round for much longer. A new 12-sided coin will
be introduced in 2017 and charities and businesses are being urged to make preparations
for handling it.**

As reported by UK Fundraising in March 2014, the [30-year-old pound coin is next year being removed from circulation](https://fundraising.co.uk/2014/03/19/new-twelve-sided-1-coin-2017/)
and replaced by a new 12-sided version. A [public competition was held](https://fundraising.co.uk/2014/09/14/royal-mint-invites-designs-new-1-coin/)
to choose the design, and UK Fundraising’s Howard Lake entered a [philanthropy-themed design](https://fundraising.co.uk/2014/10/01/lets-put-philanthropy-new-1-coin-2/).

The government and Royal Mint have created a website, [thenewpoundcoin.com](http://www.thenewpoundcoin.com),
that provides charities with materials to support them in their preparation for 
the new coin.

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## Sound as a pound

The new pound coin will be “the most secure of its kind in the world”, designed 
to combat counterfeiters. There are around 45 million counterfeit £1 coins currently
in circulation: in 2008 UK Fundraising reported that [there were around 30 million](https://fundraising.co.uk/2008/09/22/30-million-dodgy-pound-coins/).
New security features include a hologram-like image that changes from a ‘£’ symbol
to the number ‘1’ when the coin is seen from different angles. It also has micro-
lettering and milled edges.

![2017 design of one pound coin - reverse](https://wfay6x.infiniteuploads.cloud/
2022/01/one-pound-coin-2017-front.webp)

2017 design of one pound coin – reverse. Image: Royal Mint

![2017 design of one pound coin - reverse](https://wfay6x.infiniteuploads.cloud/
2022/01/one-pound-coin-2017-reverse.webp)

2017 design of one pound coin – reverse. Image: Royal Mint

## What should charities do?

Charities that handle cash should, according to the Government, take the following
steps before March 2017:
•           Check whether they operate equipment that handles
the £1 coin;•           Contact their equipment supplier to find out if they need
to make any adaptations or upgrades;•           Make the necessary changes to their
coin handling equipment;•           Train their staff on the features of the new
£1 coin; and•           Make arrangements with their bank or cash in transit provider
to return the current £1 coin and new £1 coin in separate packaging.David Gauke,
the Chief Secretary to the Treasury, said:

> “The pound as we know it will not be round for much longer. The introduction of
> this new £1 coin will be a highly significant event and we are working with The
> Royal Mint to ensure key industries are ready and to ensure a smooth transition.”

More information is available from [thenewpoundcoin.com](http://thenewpoundcoin.com).

 * **Read how Howard Lake tried to add [philanthropy to the new £1 coin design](https://fundraising.co.uk/2014/10/01/lets-put-philanthropy-new-1-coin-2/).**
 * **The [last of the current design of the £1 coins](https://fundraising.co.uk/2015/12/17/last-round-pound-coins-minted/)
   were minted in December 2015.**

 
_Main image: Edge view of the proposed new one pound coin due to be introduced
in 2017. Image: The Royal Mint_