All change for the new pound - but what about the supermarket trolleys?

A new 12-sided pound coin is to be issued - 31 years after the original was minted

New £1 coin

A new 12-sided one pound coin based on the threepenny bit has being unveiled - and is said to be the hardest in the world to fake.

But the big question on many people's lips is: What about the supermarket trolleys?

Described as a 'giant leap into the future' the new coin will replace the old one, after the Treasury announced that 3per cent in circulation are fake - a total of over 45 million.

 

The old 'Threepenny bit' which disappeared in 1971

 

The coin is based on the historic three pence piece, also known as the 'Threepenny bit' which disappeared in 1971.

Five ways to tell your pound coin is fake 

The original pound coin was issued in 1983 to replace the old pound note which was officially withdrawn from circulation in 1988.

The pound note which finally disappeared in 1988
 

 

Pound for pound: Some cash facts

  • 'Margaret Thatcher, prime minister in 1983, wasn't keen and told MPs the new coin was 'not very popular"
  • The Royal Mint said:  "The note was in constant use on average lasting only nine months, whereas a coin can last as long as forty years or more and with the growth in the vending industry it was felt that a coin would be more useful.”
  • The first £10 note was issued in 1759 in response to gold shortages caused by the Seven Years War. The first £5 notes followed in 1793.
  • Five pounds was the lowest denomination until 1797, when a series of runs on the Bank of England led to it issuing £1 and £2 notes.
  • Cashiers previously had the task of filling in the name of the payee and signing each bank note individually. They were relieved of this duty after the first fully-printed notes appeared in 1853.
  • Bank notes come in different ascending sizes, so the £5 note is smaller than the £10 which is smaller than the £20.
  • The first £2 coin was issued in 1986 to commemorate the 13th Commonwealth Games being held in Scotland. The coin was not in general circulation until 1998.
 
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