New pound coins in 2017

[eurocoin]

I think the wording of both the stats and the proclamation are vague because of the ISIS technology used... they don't want to give anything away they don't have to !!.

I could be wrong, but I recall it being mentioned somewhere that the central disc will be a sandwich of layered metals, done in such a way that it'll give a very unique magnetic signature.

The new 1 pound coins consist of several layers of metal mixed with luminescent particles, so that they can be detected for security purpose. 

[onecenter]

Glow in the dark particles?  Sounds like collecting stamps!

[eurocoin]

Glow in the dark particles?  Sounds like collecting stamps!

I believe they can only be detected with laser 

[malj1]

or perhaps black-light 

[Pabitra]

Production has started today.
See

http://www.belfasttelegraph.co.uk/business/news/production-begins-on-new-12sided-1-coin-34586552.html


http://www.thenational.scot/business/new-12-sided-1-coin-goes-into-production.15726

For security features
See

http://www.mirror.co.uk/money/6-tiny-details-reveal-how-7658367

http://www.telegraph.co.uk/news/politics/12207818/Customers-face-confusion-over-new-1-coin-during-six-month-crossover.html

[eurocoin]

Surprising that it is going to get a latent image . All other secutity features were already known I guess.

[Alan71]

My quibble here, having just seen the obverse design on the BBC News website, is why does the date have to be upside down?!  Having finally, in 2015, standardised the obverse inscription so it's the same format on all eight denominations, this one completely messes that up by running "2016.ELIZABETH II.D.G.REG.F.D" from bottom left instead of top right.  Other than that it looks OK.  I'm assuming the use of the 2016 date is purely for media purposes and the actual coins currently being produced read 2017.

[FosseWay]

The Daily Mirror article linked to above says:

The old £1 coin may have been smooth, but the new £1 coin will have milled edges - grooves in the side of the coin.

Er, what? All existing UK-standard £1 coins have a milled edge AFAIK, also with a variety of other features depending on date and issuing authority (some from the dependencies do not have lettered edges and some have alternating milled and smooth sections).

I wonder too how they intend to accommodate the date in Roman numerals on the edge in coming years. Unless there is rampant inflation or the UK joins the euro, the new-format coins will still be in production in 2028, or MMXXVIII and potentially even in 2038, which in Roman numerals needs twice the space of the example given (2014, MMXIV).

[Alan71]

^ I'm assuming it means grooves like the 5p and 10p have but can't tell.

[augsburger]

My quibble here, having just seen the obverse design on the BBC News website, is why does the date have to be upside down?!  Having finally, in 2015, standardised the obverse inscription so it's the same format on all eight denominations, this one completely messes that up by running "2016.ELIZABETH II.D.G.REG.F.D" from bottom left instead of top right.  Other than that it looks OK.  I'm assuming the use of the 2016 date is purely for media purposes and the actual coins currently being produced read 2017.

The Royal Mint put the date they were minted, minting has started, so the first coins should be 2016.

Remember the Olympic 50s coming out with 2011 on them, but in 2010?

[Pabitra]

If the date put is 2016 then why not release them now.
If the date put is 2017 then why delay the issue till March 2027.

Why should the Royal mint stockpile billions of them?

[onecenter]

Didn't something similar occur with delays when the new bimetallic two-pound coin was issued in 1997-1998?

[Pabitra]

Yes, it happened and also happens in many other countries too.

I am yet to understand the reason.

[augsburger]

The mint can't release them now because they won't work in the vending machines. They'll release them when the vending machine industry has been given enough time to sort out what needs to be sorted out.

They can't put 2017 on the coins because the coins are being made in 2016, so by law have to 2016. However the mint has clearly decided, and probably rightly, that you make loads of coins, have a small get to know the coins campaign just before millions of them hit the streets.

Basically everyone knows what's happening, the consumers, those who will use the coins for business and then the coins will not just come in drips and drabs, but in a big rush that makes it easier to put into place.

Similar to the Euro, a 6 month overlap period, coins minted and ready to go.

[Alan71]

^^ I don't think there is such a law, quite the opposite in fact.  In all previous new coin issues (1968, 1969, 1971, 1982, 1983, 1990, 1992 and 1997) the coins were issued with that year's date, even though they must have been produced before then.  1971-dated 1p and 2p coins, for instance, were available in those blue wallet packs in 1968.  Nowadays, year sets are available in the December before the year starts, and the Olympic 50p coins were actually issued into circulation in 2010, despite being dated 2011.

The exception was the £2 coin, but that was meant to have been issued into circulation in 1997 but because of technical problems was delayed until 1998.