New £1 coin design revealed ahead of Budget

New 12-sided coin will be introduced in 2017

Does this story seem a little bit familiar to you? A new coin revealed on the morning of Budget day.

Well, it should. News of a new 12 sided coin was in fact released on the morning of Budget day 2014. Here’s our story about it: Budget 2014: Osborne reveals new £1 coin.

Last year we wrote: “The Chancellor will say that the current coin, which has been in circulation for thirty years, has become susceptible to forgery, and the Royal Mint estimates that £45m worth of forged £1 coins are in circulation today.”

The only update the chancellor is offering us today is that a design for the “tails” side of the coin has been decided.

The design, by a 15-year-old from the West Midlands named David Pearce, features a rose, a leek, a thistle and a shamrock erupting from a crown.

The new coin will enter circulation in 2017, and its shape is based on the old threepenny bit, which was withdrawn in 1971.

Speaking about winning the competition to design the reverse side of the coin, Pearce said: “I heard about the competition through my design teacher at school and I thought I had nothing to lose so I decided to enter. I spent a lot of time researching what coin designs looked like and what sort of designs would represent all parts of the UK before submitting my idea and I honestly cannot believe I have won.”

So good work David, but what’s less impressive is that this information has been saved for Budget Day – does it indicate a lack of headline-winning content in the red box?

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