10 things you need to know about the new £1 coin

The new £1 coin is released today

12-sided £1 coin

Today the new 12-sided £1 coin is released, here are some things that you should know about the new coin.

1) It is launched today (28th March 2017).

2) The last day you can use the 'old' round pound is the 15th October 2017.

3) From the 16th October you will still be able to deposit the round pound at most High Street banks and the Post Office.

4) The new £1 will be the most secure coin in the world with numerous security features.

5) Many of the round pounds will be melted down and reused to make the new £1 coin.

6) It's estimated that around £433 million in savings jars are £1 coins and could be lost if people don't exchange them.

7) The Royal Mint in Llantrisant, Wales is currently making 2,000 coins a minute.

8) The Royal Mint is making 1.5 billion coins in total for distribution.

9) Most equipment such as trollies, parking meters and vending machines should be adapted to accept both types of coins by the launch date.

10) The coin was designed by 15-year-old David Pearce who won a competition. It includes the English rose, Welsh leek, Scottish thistle and Northern Irish shamrock.