The Royal Mint introduces ‘the world’s most secure coin’
The Royal Mint has launched a new one pound coin that it claims is the most secure in the world. The twelve-sided, bi-metallic coin is replacing the current £1 which has been in circulation for over 30 years.
The decision to replace the coin was made in March 2014 in an attempt to maintain the integrity of the UK currency, amidst a growing number of counterfeits. In recent years counterfeit production has increased rapidly, creating a significant cost to the economy. It’s predicted that 1 in 30 of the current round pounds in circulation are counterfeits.
The new coin will have banknote-strength security, and will be the first coin to incorporate new secure identification technology. A distinct shape, bimetallic build and micro lettering are also among some of the new security features to have been introduced. However, it’s a substance embedded within the alloy of the coin that The Royal Mint claims makes it the most secure coin in the world.
These high security features added by The Royal Mint means 100% accurate automatic recognition is possible – on a genuine or counterfeit coin – for the first time.
Vaultex received three awards from The Royal Mint in recognition of its work on a multi-million coin extraction process back in 2014.
We designed and introduced new equipment to carry out an alloy extraction process for The Royal Mint to remove 5p and 10p coins with Cupro Nickel content from circulation – saving HM Treasury and the UK Taxpayer over £30 million to date.