Due to the amount of counterfeit one pound coins in the market, on average 1 in 30, the Royal Mint has issued a new 12 sided one pound coin. Launched in 1983 it has been found that the "round pound" is relatively easy to forge.
The new dodecagon coins feature a hologram image that changes from "£" to a number "1" dependent on the angle you view it from. It comes with micro-sized lettering on the lower inside rim on both sides of the coin and a secret high security feature built into it to protect it from being counterfeited in the future.
"It has been designed to be fit for the future, using security features that aim to safeguard our currency and currencies around the world, for years to come." said Adam Lawrence, Chief Executive of the Royal Mint.
The introduction of a new dodecagon coin means that there are certain things that are vital for a retailer to upgrade to ensure they can accept the new coins including
There has already been some issues with a national supermarket chain having to unlock 100,000 trolleys to ensure customers could use them as they had not been upgraded for the new coin. Also a nationwide discount store has not upgraded its trolleys which has infuriated customers.
If a customer cannot park near a store because the parking meter will not accept the new coin and that is all the change they have, then they will identify where the parking meters that have been upgraded are and use those retailers.
It is really important for retailers to ensure the customer journey is a smooth one from being able to park their car, get their trolley and use the vending machines. If the customer does not feel that they are being put first you can guarantee they will move to another retailer that can offer them the seamless service they require.