The iconic £1 coin has long been recognised around the
world and Brits living in UK territories may soon be
able to spend unique versions of the new pound,
replacing the older coins currently in use.
The coins are expected to feature images celebrating
the heritage of these territories, with their history
and culture pictured on the reverse side. Ministers
believe this will symbolise the close links between the
UK and its territories.
The new £1 coin, introduced in 2017, is the most secure
of its kind in the world. Many territories and
dependencies have coins based on older versions of UK
currency and they will now have the choice to use this
cutting-edge technology and design to protect their
cash.
This decision taken by ministers to roll out the coin
underpins the UK’s commitment to its territories and
dependencies, and will ensure they can benefit from the
increased security that the 12-sided coin offers.
, Exchequer
Secretary to the Treasury, said:
The Great British pound is internationally recognised
and as we extend the new £1 coin to our territories
and dependencies, we will see new designs emerge that
together symbolise our shared history.
In the same way that the rose, leek, thistle and
shamrock are used on our coin to represent the four
nations of the UK, these new designs will reflect the
rich and varying British communities across the
world.
From the Falklands to Gibraltar, this move sends a
clear message of our unshakeable commitment to our
territories around the globe.
Lord (Tariq) Ahmad of Wimbledon, Minister of State for
the Overseas Territories, said:
This is an exciting opportunity for our currency to
reflect the breadth and variety of the British
Territories. Each will be able to create a design
that reflects their own distinctive heritage as part
of the British family. As well as helping to boost
their identity, these new coins will also bring
increased security to each of these economies.
Currently, many of the UK’s territories and
dependencies use their own versions of the pound which
are pegged against Pound Sterling.
To produce their own 12-sided £1-coin, Overseas
Territories and Crown Dependencies will inform the
Royal Mint, who will ensure that the same security
standards are met before approving and supplying them
with the necessary blank or struck coins.
The new £1 coin has a number of overt and covert
security features, including its 12-sided shape,
intermittent milled edges, and the denomination and
year date incorporated in micro-text on the coin.
The three Crown Dependencies of the United Kingdom
include:
- Isle of Man
- Jersey
- Guernsey
The United Kingdom Overseas Territories include:
- Akrotiri and Dhekelia
- Anguilla
- British Antarctic Territory
- Bermuda
- British Indian Ocean Territory
- British Virgin Islands
- Cayman Islands
- Falkland Islands
- Gibraltar
- Montserrat
- St Helena, Ascension Island and Tristan da Cunha
- Turk and Caicos Islands
- Pitcairn Island
- South Georgia and South Sandwich Islands
