George Osborne unveils the new one pound coin design celebrating four nations
A NEW one pound coin celebrating the four nations of the United Kingdom was unveiled last night by Chancellor George Osborne.
Featuring images of an English rose, Scottish thistle, Welsh leek and Irish shamrock emerging from a Royal coronet on the "tails" side, the design was the work of a teenager who entered a competition run by the Royal Mint.
And the choice of the patriotic image follows the vote to keep the UK together in last year's Scottish independence referendum.
David Pearce, 15, beat more than 6,000 rivals in the competition to design a new one-pound coin logo.
The pupil at Queen Mary's Grammar School in Walsall was called by Mr Osborne earlier this week to be told he had won.
He joined other entrants at a reception in Downing Street last night.
The youngster said: “I was really excited to hear that I had won the competition to design the new £1 coin but hugely shocked as well.
"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.”
Competition entrants were asked to create a design symbolising Britain.
Entries included images of cups of tea, flags, maps, the weather, famous writes and seaside piers.
One design incorporated the big lips logo of the Rolling Stones rock band.
The winning design will feature on new bi-metallic £1 coins introduced into circulation in 2017.
The final design was refined for use on the final coin with the support of the renowned coin artist David Lawrence and lettering expert Stephen Raw.
The coin is being replaced for the first time in more than 30 years because of its vulnerability to counterfeiters.
It will have the same shape as the 12-sided three pence piece or “threepenny bit” and will be the most secure coin in circulation in the world.
The Royal Mint estimates that about three per cent of all £1 coins, around 45 million, in total, are now forgeries.
Over the past few years, around two million counterfeit £1 coins have been removed from circulation each year.
Treasury officials insist security measures built into the coin will reduce costs to business and the taxpayer.
David Pearce’s winning design will be recognised by millions in the years ahead
Measures include new anti-counterfeiting technology, which can be authenticated by high-speed automated detection.
Mr Osborne said: “Designing the new £1 coin was a brilliant opportunity to leave a lasting legacy on what will be the most secure coin in circulation anywhere.
“The competition captured the imagination of thousands of people and David Pearce’s winning design will be recognised by millions in the years ahead.
"It was fantastic to congratulate him and other young entrants in person in Downing Street.”
Royal Mint chief executive Adam Lawrence said: “We are delighted to have the opportunity to support Her Majesty’s Treasury in modernising the iconic £1 coin and helping to re-define the world of coinage.
"Made from two different metals and including ground-breaking technology developed at The Royal Mint, this new 12-sided coin will be the most secure circulating coin in the world.
“As an organisation we have been established for over one thousand years but we are constantly looking to the future, so it’s fantastic to see the work of a talented young artist like David Pearce being replicated on a coin, that will be used by millions of people in Britain and recognised world-wide for years to come”.
