Blighty starts pumping out 12-sided quids

The Royal Mint has begun pumping out the fetching 12-sided pound coins which will hit the UK's streets in March next year.

The retro-styled nugget - which pays homage to the classic threepenny bit - is rolling off the production line at the rate of 4,000 a minute. It's heralded as "the world’s most secure coin in circulation", boasting "two different coloured metals and an iSIS (Integrated Secure Identification Systems) security feature".

George Osborne, Chancellor of the Exchequer, enthused: "I am delighted that the Royal Mint are now producing the most secure circulating coin anywhere in the world. With ground-breaking technology, developed in Wales, the new coin will help secure our economy and get rid of counterfeits.

"In a year’s time, the new coin, which will incorporate emblems from all four of our home nations, will line millions of pockets and purses around the UK."

The said tails side of the coin was designed by 15-year-old West Midlands lad David Pearce, who triumphed in a public competition with his rose, leek, thistle and shamrock concept.

The shiny new pound has been well received, apart from predictable grumblings from vending machine manufacturers about the cost of converting their kit to accept the dodecaquid.

While the Royal Mint put the cost at £15m - £20m, the British Parking Association and Automatic Vending Association (AVA) produced an estimate of up to £100m to adapt Blighty's 100,000 pay-and-display machines, 450,000 vending machines and 60,000 payphones.

The AVA has, though, accepted that the issue of counterfeit pounds needs to be addressed. Chief exec Jonathan Hart said yesterday: "The AVA and The Royal Mint have been working together for a number of years to ensure implementation of the new one pound coin proceeds as smoothly as possible.

"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 pound coin in the United Kingdom." ®