One pound coin

To date, four different portraits of Elizabeth II have appeared on the obverse. For the first three of these, the inscription was {{small|ELIZABETH II D.G.REG.F.D. 2013}},{{cite web|url=http://www.coins-of-the-uk.co.uk/dec1p.html|first=Tony|last=Clayton|title=Decimal Coins of the UK – One Pound |website=coins-of-the-uk.co.uk |access-date=24 May 2006}} where 2013 is replaced by the year of minting. The fourth design, unveiled in March 2015, expanded the inscription slightly to {{small|ELIZABETH II DEI.GRA.REG.FID.DEF. 2015}}. The 12-sided design, introduced in March 2017, reverted to {{small|2017 ELIZABETH II D.G.REG.F.D.}}

In summary:

• In 1983 and 1984 the portrait of Queen Elizabeth II by Arnold Machin appeared on the obverse,{{cite web|url=http://www.royalmint.com/RoyalMint/web/site/Corporate/Corp_british_coinage/CoinDesign/1pCoin.asp|title=1p Coin|publisher=British Royal Mint|access-date=23 May 2006 |archive-url = https://web.archive.org/web/20060427104248/http://www.royalmint.com/RoyalMint/web/site/Corporate/Corp_british_coinage/CoinDesign/1pCoin.asp |archive-date = 27 April 2006}} in which the Queen wears the "Girls of Great Britain and Ireland" Tiara.
• Between 1985 and 1997 the portrait by Raphael Maklouf was used, in which the Queen wears the George IV State Diadem.
• Between 1998 and 2015 the portrait by Ian Rank-Broadley was used, again featuring the tiara, with a signature-mark {{small|IRB}} below the portrait.
• In 2015 the portrait by Jody Clark was introduced,{{cite news|title=Royal Mint unveils new coinage portrait of the Queen|url=https://www.bbc.co.uk/news/uk-31691060|access-date=18 March 2015|work=BBC News|date=2 March 2015}} in which the Queen wears the George IV State Diadem,{{cite news|title=The reveal of the Queen's fifth coin portrait|url=http://www.royalmint.com/aboutus/news/fifth-coin-portrait|access-date=18 March 2015|publisher=Royal Mint|date=2 March 2015}} with a signature-mark {{small|JC}} below the portrait.

In August 2005 the Royal Mint launched a competition to find new reverse designs for all circulating coins apart from the £2 coin.[http://news.bbc.co.uk/1/hi/uk/4160122.stm "Royal Mint seeks new coin designs"], BBC News, 17 August 2005 The winner, announced in April 2008, was Matthew Dent, whose designs were gradually introduced into the circulating British coinage from mid-2008.[http://www.dofonline.co.uk/economy/royal-mint-unveils-new-uk-coins.html "Royal Mint unveils new UK coins"] {{webarchive|url=https://web.archive.org/web/20090307030121/http://www.dofonline.co.uk/economy/royal-mint-unveils-new-uk-coins.html |date=7 March 2009 }}, dofonline.co.uk, 2 April 2008 The designs for the 1p, 2p, 5p, 10p, 20p and 50p coins depict sections of the Royal Shield that form the whole shield when placed together. The shield in its entirety was featured on the £1 coin. The coin's obverse remained unchanged.

The design of the reverse of the original coin was changed each year from 1983 to 2008 to show, in turn, an emblem representing the UK, Scotland, Wales, Northern Ireland, and England, together with an appropriate edge inscription. This edge inscription could just as often be "upside-down" (when obverse is facing upward).{{cite web|last1=Royal Mint|title=Why does the edge inscription on the £2 and £1 coins sometimes appear "upside down"?|url=http://www.royalmint.com/help/help/edge-inscription-upside-down|access-date=2 November 2016|archive-url=https://web.archive.org/web/20161104010846/http://www.royalmint.com/help/help/edge-inscription-upside-down|archive-date=4 November 2016|url-status=dead|df=dmy-all}} From 2008, national-based designs were still minted, but alongside the new standard version and no longer in strict rotation. The inscription ONE POUND appeared on all reverse designs.

In common with non-commemorative £2 coins, the round £1 coin (except 2004–07 and the 2010–11 "capital cities" designs) had a mint mark: a small crosslet found on the milled edge that represents Llantrisant in South Wales, where the Royal Mint has been based since 1968.{{cite web | url = http://www.24carat.co.uk/royalmintframe.html | title = History of the Royal Mint |website=24carat.co.uk | access-date = 9 April 2008 }}

The reverse of the new 12-sided, bimetallic pound coin, introduced on 28 March 2017, was chosen by a public design competition. The competition to design the reverse of this coin was opened in September 2014.[http://www.royalmint.com/newonepoundcoin/how-to-enter New One Pound Coin] {{Webarchive|url=https://web.archive.org/web/20140913151344/http://www.royalmint.com/newonepoundcoin/how-to-enter |date=13 September 2014 }} Royal Mint It was won in March 2015 by 15-year-old David Pearce from Walsall, and unveiled by Chancellor George Osborne during his Budget announcement. The design features a rose, leek, thistle and shamrock bound by a crown.{{cite news|last1=Allen|first1=Katie|title=New 12-sided pound coin to be unveiled ahead of budget announcement|url=https://www.theguardian.com/uk-news/2015/mar/17/new-12-sided-pound-coin-to-be-unveiled-ahead-of-budget-announcement|access-date=18 March 2015|work=The Guardian|date=17 March 2015}}

In October 2023 the King Charles III one-pound coin was presented; the coin features bees.{{cite news|url=https://www.bbc.com/news/business-67091137|work= BBC News|title=King Charles III new coins designed to help children to count|access-date = 11 January 2025|date = 13 October 2023}}{{cite web|url=https://www.royalmint.com/annual-sets/2023/definitives/|title= 2023 Definitives: His Majesty King Charles III's First Definitive Coins| website=Royal Mint|access-date = 11 January 2025}}

Mintage figures below represent the number of coins of each date released for circulation. Mint sets have been produced since 1982; where mintages on or after that date indicate 'none', there are examples contained within those sets.

All years except 1998 and 1999 have been issued into circulation, although the number issued has varied enormously – 1983, 1984 and 1985 in particular had large mintages to facilitate the changeover from paper notes, while some years such as 1988 are only rarely seen (although 1988 is more noticeable as it has a unique reverse). Production since 1997 has been reduced as a result of the introduction of the circulating two pound coin.

The final round coins minted for 2016 and the 2015 Shield of the Royal Arms fifth portrait did not enter circulation, as they were only available through commemorative sets.{{Cite web|url=http://www.checkyourchange.co.uk/1-coins-in-circulation/2016-one-pound/|title=2016 One Pound |website=www.checkyourchange.co.uk|language=en-GB|access-date=2017-03-28}} These were the shield from the Royal Coat of Arms by Matthew Dent, and a design by Gregory Cameron, Bishop of St Asaph, of four heraldic beasts.{{cite web |url=http://blog.royalmint.com/behind-design-last-round-pound/ |first=Anna |last=Powell |title=Behind the design: the last 'round pound' |work=The Royal Mint blog |publisher=The Royal Mint |date=16 May 2016 |access-date=19 October 2016 |archive-date=20 October 2016 |archive-url=https://web.archive.org/web/20161020112103/http://blog.royalmint.com/behind-design-last-round-pound/ |url-status=dead }}

During later years of the round pound's use, Royal Mint surveys estimated the proportion of counterfeit £1 coins in circulation. This was estimated at 3.04% in 2013, a rise from 2.74%. The figure previously announced in 2012 was 2.86%, following the prolonged rise from 0.92% in 2002–2003 to 0.98% in 2004, 1.26% in 2005, 1.69% in 2006, 2.06% in 2007, 2.58% in 2008, 2.65% in 2009, 3.07% in 2010 and 3.09% in 2011.{{cite news |work=BusinessReport |url=http://www.businessreport.co.uk/article/00762/43.5-million-fake-pound-coins-in-circulation |title= 43.5 Million Fake Pound Coins in Circulation |date=17 December 2012 |first=Clive |last=Kahn}}{{cite web |url=http://www.hm-treasury.gov.uk/d/foi_poundcoins_narrative.pdf |title=HM Treasury FOI response relating to a period 2008–2009 |type=PDF |website=HM Treasury|date=8 July 2024 }} Figures were generally reported in the following year; in 2008 (as reported in 2009), the highest levels of counterfeits were in Northern Ireland (3.6%) and South East England and London (2.97%), with the lowest being in North West England.{{cite news|newspaper=The Telegraph|url=https://www.telegraph.co.uk/news/newstopics/howaboutthat/9178424/Three-pound-coins-in-every-100-are-fake.html|title= Three pound coins in every 100 are fake |date=1 April 2012|author=Josie Ensor | location=London}}{{cite news|newspaper=The Telegraph|url=https://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/7910602/Record-number-of-fake-1-coins-could-force-reissue.html|archive-url=https://web.archive.org/web/20100729151709/http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/7910602/Record-number-of-fake-1-coins-could-force-reissue.html|url-status=dead|archive-date=29 July 2010|title= Record number of fake £1 coins could force reissue |date=27 July 2010|author=Rosie Murray-West and Harry Wallop | location=London}}{{cite news|newspaper=The Telegraph|url=https://www.telegraph.co.uk/news/uknews/4379416/One-1-coin-in-40-is-a-fake.html|title= One £1 coin in 40 is a fake |date=29 January 2009|author=Chris Irvine | location=London}} Coin testing companies estimated in 2009 that the actual figure was about twice the Mint's estimate, suggesting that the Mint was underplaying the figures so as not to undermine confidence in the coin.{{cite news|work=BBC News|url=http://news.bbc.co.uk/go/rss/-/1/hi/uk/7988001.stm|title= Fake £1 coin estimate 'doubled' |date=8 April 2009|author=Ben Ando}} It is illegal to pass on counterfeit currency knowingly; the official advice is to hand it in, with details of where received, to the police, who will retain it and investigate.{{cite news |first=Hilary |last=Osborne |date=2 April 2012 |url=https://www.theguardian.com/money/blog/2012/apr/02/how-to-spot-fake-one-pound-coin |title=How to spot a fake £1 coin |work=The Guardian |access-date=24 January 2016}} One article suggested that "given that fake coins are worthless, you will almost certainly be better off not even looking". The recipient also has recourse against the supplier in such cases.

File:OnePoundCoin-P1010041.jpg

Counterfeits are put into circulation by dishonest people, then circulated inadvertently by others who are unaware; in many cases banks do not check, and circulate counterfeits. In 2011 the BBC television programme Fake Britain withdrew 1,000 £1 coins from each of five major banks and found that each batch contained between 32 and 38 counterfeits; the Mint estimated that about 31 per 1,000 £1 coins were counterfeit.Fake Britain, series 2 episode 1, first broadcast on BBC One TV on 16 May 2011 Some of the counterfeits were found by automated machinery, others could be detected only by expert visual inspection.

In July 2010, following speculation that the Royal Mint would have to consider replacing £1 coins with a new design because of the fakes, bookmakers Paddy Power offered odds of 6/4 (bet £4 to win £6, plus the £4 stake back; decimal odds of 2.5), that the £1 coin would be removed from circulation.{{cite news|publisher=Live Odds and Scores |url=http://www.liveoddsandscores.com/news/press-releases/4211831/1-coin-under-threat|title= £1 coin under threat |date=28 July 2010|author=Sarah Preece | location=London}}

File:Stirlingfakeandreal.jpg

Some counterfeits were of poor quality, with obviously visible differences (less sharply defined, lacking intricate details, edge milling and markings visibly wrong). Many better counterfeits can be detected by comparing the orientation of the obverse and reverse—they should match in genuine modern UK coins, but very often did not in counterfeit round £1. The design on the reverse must be correct for the stamped year (e.g., a 1996 coin should have a Celtic cross).[http://blog.alism.com/fake-one-pound-coins-part-one/][http://blog.alism.com/fake-one-pound-coins-part-two/][http://blog.alism.com/fake-one-pound-coins-part-three/] Three blog entries analyzing counterfeits the author has been passed. blog.alism.com It was difficult to manufacture round pounds with properly-produced edges; the milling (grooves) was often incomplete or poor and the inscription (often "DECUS ET TUTAMEN") sometimes poorly produced or in the wrong typeface. A shiny coin with less wear than its date suggests is also suspect, although it may be a genuine coin that has rarely been used.

Counterfeit coins are made by different processes including casting, stamping, electrotyping, and copying with a pantograph or spark erosion.{{cite web |url=http://www.coinauthentication.co.uk/poundfiles-types.html |title=The types of counterfeit one-pound coins and identifying them |website=coinauthentication.co.uk. |date=February 2006 |access-date=24 January 2016}} In a 2009 survey, 99% of fake £1 coins found in cash centres were made of a nickel-brass, of which three fifths contained some lead and a fifth were of a very similar alloy to that used by the Royal Mint. The remaining 1% were made of simple copper-zinc brass, or lead or tin, or both.{{cite web |url=https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/220830/foi_poundcoins_survey_may09.pdf |publisher=Royal Mint |title=Report on UK £1 counterfeit survey |date=May 2009}} Those made of lead or tin may have a gold-coloured coating; counterfeits made of acrylic plastic containing metal powder to increase weight were occasionally found.

The final 'round pounds' were minted in December 2015; the replacement, a new 12-sided design, was introduced in 2017,{{cite news |url=https://www.theguardian.com/money/2015/dec/17/royal-mint-presses-last-batch-round-pound-coins?CMP=twt_gu |title=Royal Mint Presses Last Batch of Round Pound Coins |work=The Guardian |date=17 December 2015}} the earliest dated as 2016. The coin has a 12-edged shape, similar to the pre-decimal brass threepence coin; it has roughly the same size as the previous £1 coin, and is bi-metallic like most £2 coins. The new design is intended to make counterfeiting more difficult, and also has an undisclosed hidden security feature called "iSIS" (Integrated Secure Identification Systems),{{cite web |url=http://www.royalmint.com/aboutus/news/the-new-1-pound-coin |title=The New One Pound Coin |publisher=royalmint.com |access-date=19 March 2014 |date=19 March 2014 |archive-url=https://web.archive.org/web/20140319172540/http://www.royalmint.com/aboutus/news/the-new-1-pound-coin |archive-date=19 March 2014 |url-status=dead |df=dmy-all }}{{cite news |publisher=Bloomberg |url=https://www.bloomberg.com/news/2014-03-18/u-k-to-replace-1-pound-coin-with-secure-12-edged-design.html |title=U.K. to Replace 1-Pound Coin With Secure 12-Edged Design |date=18 March 2014|author=Svenja O'Donnell}} thought to be a code embedded in the top layer of metal on the obverse of the coin, visible only under a specific wavelength of ultraviolet light.{{cite news |last=Morley |first=Katie |title=Revealed: the secret code embedded on the Queen's face on new £1 coin |url=https://www.telegraph.co.uk/news/2017/03/28/revealed-new-1-coins-hidden-security-feature-works/ |access-date=12 September 2018 |work=The Telegraph |date=28 March 2017}}

Current two-pound coins, being bi-metallic (excluding some rarely tendered commemorative issues), remain harder to counterfeit than the round pound was; such counterfeits would often easily seen to have wrong colours.

While the round pound was operational, others that entered circulation, although not legal tender in the UK, were some £1 coins of British Crown Dependencies, Gibraltar and UK South Atlantic Overseas Territories. Most coins of these territories, in all denominations, were of the same size and composition as a UK equivalent and most bore the same portraits of the UK monarch.{{cite web |url=http://www.royalmint.com/help/help/spending-channel-or-isle-of-man-coins-in-the-uk |title=Can I use coinage from the Channel Islands or the Isle of Man? |website=Royal Mint |access-date=24 January 2016 |archiveurl=https://web.archive.org/web/20120928203141/http://www.royalmint.com/help/help/spending-channel-or-isle-of-man-coins-in-the-uk |archivedate=28 September 2012}}{{cite web |url=http://www.royalmint.com/help/help/spending-overseas-coins-in-the-uk |title=Can I use coinage from United Kingdom Overseas Territories?|archiveurl=https://web.archive.org/web/20170614172729/http://www.royalmint.com/help/help/spending-overseas-coins-in-the-uk |archivedate=14 June 2017 |website=Royal Mint |access-date=24 January 2016}} After the UK replaced its round pound coins, these territories did not rush to do so; Gibraltar and the Isle of Man continued to use their round pound coins as well as the new UK pound coins and the other territories withdrew their round pounds without replacing them.

In "Real Britannia", an April 1993 article in The New Yorker, Julian Barnes describes the meetings to choose the 1994–1997 reverse designs.{{cite magazine |url=http://www.newyorker.com/archive/1993/04/12/1993_04_12_036_TNY_CARDS_000365179 |title=Letter From London: Real Britannia |author-link = Julian Barnes |last=Barnes |first=Julian |date=4 April 1993 |access-date=14 June 2022 |magazine=The New Yorker |url-access=subscription}} This is reprinted in his book Letters from London as "Britannia's New Bra Size".

{{portal|Money|Numismatics|United Kingdom}}

• Banknotes of the pound sterling
• Coin counterfeiting
• Coins of the pound sterling

{{Reflist}}

{{refbegin}}

• Coincraft's Standard Catalogue English & UK Coins 1066 to Date, Richard Lobel, Coincraft. {{ISBN|0-9526228-8-2}}

{{refend}}

• [http://www.royalmint.com/discover/uk-coins/coin-design-and-specifications/one-pound-coin Royal Mint – £1 coin]
• [https://web.archive.org/web/20170708180156/https://www.thenewpoundcoin.com/ Royal Mint – the new pound coin]
• [https://onlinecoin.club/Coins/CoinType/United_Kingdom/One_Pound/ One Pound, Coin Type from United Kingdom – Online Coin Club]

{{British coinage}}

Category:1983 establishments in the United Kingdom

Category:Coins of the United Kingdom

Category:Currencies introduced in 1983

Category:One-base-unit coins