New pound coin

Here at GEM we are preparing for the arrival of the new pound coin.newpound

Jonathan Hart, chief executive of the Automatic Vending Association (AVA), said: “Whilst we can’t hide from the fact there is a sizeable piece of work for our members to undertake to ensure readiness, as an organisation we completely understand and support the rationale and the need for a new, secure, one one-pound coin in the United Kingdom.”

At Budget 2014 it was announced by the Government that we will be welcoming a new £1 coin for security reasons, to combat against counterfeiters, in turn securing our economy. 12 sided, made with two metals and containing secret messages inside, these coins have been named as the most secure coin in the world to date.

The new coin has already gone into production, with over 4,000 being made per minute, there will be a six month cross over time where both the old and new £1 coins can be used.