Gibraltar to introduce 12-sided pound coin

[eurocoin]

Gibraltar will be issuing a new 12-sided 1 pound coin. A date has not yet been set as The Royal Mint does not yet have a sufficient amount of blanks available. The Royal Mint will produce the blanks and then send these to Tower Mint for the minting.

[eurocoin]

The Government of Gibraltar hopes that The Royal Mint will have stock by the end of this year and so that the 2018 coin set of Gibraltar will have the new 12-sided 1 pound coin.

[Jostein]

Thanks for the news eurocoin.

Just as expected... 

[redlock]

Thanks for the news eurocoin.

Just as expected... 

Why has it been expected?
Jersey and Guernsey have gotten rid off their £1 coins -- withdrawing them from circulation and ''replacing'' them with their £1 bank-note and the UK £1 coin resp.

[<k>]

Look at the pound-using territories, and you'll see that the Isle of Man and Gibraltar have always been highly commercially and collector-oriented in their coin issuance. They want to please the collectors in order to earn money from them. In recent years the Falkland Islands have also been heading in that direction. These territories use - or have used - the more commercially-oriented mints, e.g. the Pobjoy Mint and Tower Mint, so that all makes sense.

Meanwhile, the Channel Islands and St Helena-Ascension have usually been more conservative in their issuing policies.

[redlock]

Look at the pound-using territories, and you'll see that the Isle of Man and Gibraltar have always been highly commercially and collector-oriented in their coin issuance. They want to please the collectors in order to earn money from them. In recent years the Falkland Islands have also been heading in that direction. These territories use - or have used - the more commercially-oriented mints, e.g. the Pobjoy Mint and Tower Mint, so that all makes sense.

Meanwhile, the Channel Islands and St Helena-Ascension have usually been more conservative in their issuing policies.

Thanks for the explanation. Learnt something today. 

[eurocoin]

The round Gibraltar 1 pound coin will be demonetized before April 1, 2019.

[eurocoin]

The Royal Mint has commented on the statements made by the Treasurer of Gibraltar in the Parliament of Gibraltar. They claim they are not aware of any confirmed plans of Gibraltar to issue a new 12 sided pound coin. They have also said that at this time there is no agreement between The Royal Mint and the Government of Gibraltar for the provision of blanks.

[eurocoin]

The new 1 pound coin of Gibraltar is likely going to feature an outline map of the EU without the UK. It will likely also depict the Union Jack to symbolise past and future. The government of Gibraltar told local media that this was the design concept that they are currently considering.

[Alan71]

Blimey.  If that doesn't sound like an anti-Brexit move, I don't know what does!

[eurocoin]

Joe Bossano, Minister of Finance of Gibraltar has earlier today held a presentation during the Media Forum on the World Money Fair in which he spoke about "Gibraltar coinage in a Brexit year". To great annual tradition I did once again not attend, so if there is someone who happens to know more about what has been said, or has contacts who may know, that information would be very welcome.

[eurocoin]

The Gibraltar National Mint will this year on the World Money Fair again hold a presentation called "Gibraltar coinage in a Brexit year". If anyone attends the Media Forum of the World Money Fair and knows what was being said, that information will be usefull for the forum.

[eurocoin]

The Gibraltar Treasury has not yet decided on a date of issuance for their new 12-sided 1 pound coin. The minister responsible was recently asked about the progress on the project, which has been running since at least 2017. He now seemed way more hesitant than he has been in the past. Amongst other things he mentioned that there was not yet a plan on how they were going to handle the exchange of the old coins, and the millions of pound coins that are expected to then return to the treasury. There seemed to be concern about the costs of such an exercise.

This makes me wonder how Gibraltar handled the exchange of the round UK 1 pound coins, at the time when they were demonetized? Maybe that caused trouble/high costs and now they are concerned about the next step, the withdrawal of the Gibraltar round pound coin?

[Offa]

Erm pobjoy produce the Gibraltar coins, not tower mint.

[eurocoin]

Gibraltar will this year introduce a bimetallic 12-sided 1 pound coin.