We all know that money makes the world go around, but do you know what goes into it? The new pound coin arrived on 28th March, largely as a preventative measure against counterfeiting. Take a look at the graphic below for more information about its composition.
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| Source: Compound Interest |
Why the new coin is harder to counterfeit:
- 12-sided - its distinctive shape means it stands out by sight and by touch
- Bimetallic - The outer ring is gold coloured (nickel-brass) and the inner ring is silver coloured (nickel-plated alloy)
- Latent image - it has an image like a hologram that changes from a '£' symbol to the number '1' when the coin is seen from different angles
- Micro-lettering - around the rim on the heads side of the coin tiny lettering reads: ONE POUND. On the tails side you can find the year the coin was produced
- Milled edges - it has grooves on alternate sides
- Hidden high security feature - an additional security feature is built into the coin to protect it from counterfeiting but details have not been revealed
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