First introduced on 09 February 1983, the British £1 (one pound) coin took over from the banknote that had previously carried that denomination, and since then well over 1.5 billion of them have been produced, production finally ceasing in December 2015. The reason for the end in production is quite simple – counterfeiting. It’s estimated that just over 3% of the one pound coins in circulation are forgeries, a huge £45 million. The Royal Mints response is a bimetallic, 12-sided, security enabled new £1 coin that will enter circulation in 2017.
In the meantime, while there will be no circulating £1 coins minted in 2016, the mint is striking a specially designed commemorative in silver and gold that is being described as the last round pound. Fortunately, it is in our view a superb design, an amlgamation of the four national animal symbols that make up the United Kingdom. Clockwise from the top they are the English Barbary Lion, the Scottish Unicorn, the Irish Stag, and the Welsh Dragon. In the centre sits the UK crown. The obverse features Jody Clarks new effigy of Queen Elizabeth II.
Available in 9.5g and 19.0g sterling silver, the latter a double-thickness piedfort version, as well as 22 carat gold, all are struck to a proof finish and have identical designs. All come boxed, the gold in a higher quality wooden item, and with a Certificate of Authenticity. A really well done design by Gregory Cameron has allowed the old £1 coin to go out on a high. We’d certainly like to see a bigger 40mm version of the design, perhaps the next £50 for £50 coin. Available to order now and selling fast.
MINTS DESCRIPTION
When the £1 coin was introduced in 1983 its thickness, golden colour and Latin inscription DECUS ET TUTAMEN or ‘An ornament and a safeguard’ on the coin’s edge instantly set it apart. The coin was a modern and efficient replaced for the one pound banknote, and now the round £1 coin will make way for a new state-of-the-art, 12-sided successor in 2016. We have struck a final commemorative edition of the last ‘round pound’ to bid farewell to the coin in its current form.
Gregory Cameron’s lifelong interest in heraldry is evident in his symbolic design. He has turned to the coins original theme for inspiration, and his modern reworking of the Royal Arms gives each country of the United Kingdom equal billing – all four royal beasts leaping to the defence of British sovereignty. Struck in 925 sterling silver and finished to Proof standard, the coin comes in a Royal Mint case with a booklet on 33 years of this popular coin’s history. The round £1 coin will begin to be phased out in 2016, so this farewell coin will not enter circulation, and this is the only way to own the silver Proof edition of the 2016 £1 as a single coin.
Mintage figures refer to this presentation. There may be more in sets at a later date but that is to be confirmed.
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SPECIFICATION
| DENOMINATION | COMPOSITION | WEIGHT | DIAMETER | FINISH | MINTAGE | BOX / COA | R.R.P. |
|---|---|---|---|---|---|---|---|
| £1 UKP | 0.925 SILVER | 9.5 g | 22.50 mm | PROOF | 7,500 | YES / YES | £50.00 |
| £1 UKP | 0.925 SILVER | 19.0 g | 22.50 mm | PROOF | 3,000 | YES / YES | £100.00 |
| £1 UKP | 0.9167 GOLD | 19.619 g | 22.50 mm | PROOF | 500 | YES / YES | £895.00 |
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