New £1 Coin Design Revealed

The new £1 coin design has been unveiled by the UK Chancellor.

The coin, which has been designed by teenager David Pearce, will be in circulation from 2017.

Mr Pearce, 15, won a competition organised by the Royal Mint on behalf of Her Majesty's Treasury, to design the 'tails' side of the coin.

Entrants to the competition were asked to create a design which symbolised Britain. David's design comprises of four well-known symbols of the UK with a rose, leek, thistle and shamrock emerging from a Royal Coronet.

The coin will have the same shape as the old 12-sided three pence piece, or 'threepenny bit'.

This is the first time the £1 has been replaced in over 30 years, because of its vulnerability to counterfeiters. The Royal Mint has said the new coin will become the "most secure coin in circulation" due to its bi-metallic construction and the inclusion of new anti-counterfeiting technology.

Chancellor of the Exchequer, George Osborne, said: "Designing the new £1 coin was a brilliant opportunity to leave a lasting legacy on what will be the most secure coin in circulation anywhere.

"The competition captured the imagination of thousands of people and David Pearce's winning design will be recognised by millions in the years ahead."

Mr Pearce added: "I heard about the competition through my design teacher at school and I thought I had nothing to lose so I decided to enter.

"I spent a lot of time researching what coin designs looked like and what sort of designs would represent all parts of the UK before submitting my idea and I honestly cannot believe I have won."

(JP/IT)