The 2017 One Pound Coin: A Collector's Guide

Hey guys! Ever wondered about that shiny one pound coin jingling in your pocket? Specifically, the 2017 one pound coin? Well, you're in the right place! This guide dives deep into everything you need to know about this particular piece of British currency, from its design and security features to its value and collectibility. So, grab a cuppa, settle in, and let's explore the fascinating world of the 2017 one pound coin.

A Brief History of the One Pound Coin

Before we zoom in on the 2017 one pound coin, let’s take a quick trip down memory lane. The original round one pound coin had been a staple in our wallets and purses since 1983. However, by the mid-2010s, it had become increasingly vulnerable to counterfeiting. The Royal Mint estimated that around 3% of all one pound coins in circulation were fake – that's a lot of dodgy dough! To combat this, they decided to introduce a brand-new, highly secure one pound coin. This is where our star, the 2017 one pound coin, comes into the picture.

The new one pound coin was designed to be the most secure coin in the world. Its distinctive 12-sided shape and bi-metallic construction (gold-colored outer ring and silver-colored inner ring) made it significantly harder to copy. The design also incorporated a hidden security feature, which we'll discuss later. The introduction of the new coin meant that the old round pound was phased out of circulation. The last day you could legally spend the round pound was October 15, 2017. After that, it was all about the new, shiny, and secure 2017 one pound coin!

The transition to the new coin was a massive undertaking, involving businesses, vending machine operators, and the general public. It required upgrading vending machines, parking meters, and other coin-operated devices to accept the new shape. Public awareness campaigns were launched to inform people about the changeover and encourage them to spend or deposit their old round pounds. Despite some initial hiccups, the changeover was largely successful, and the 2017 one pound coin quickly became a familiar sight in our pockets.

Design and Features of the 2017 One Pound Coin

Okay, let's get down to the nitty-gritty of what makes the 2017 one pound coin so special. As mentioned earlier, the most obvious feature is its 12-sided, or dodecagon shape. This immediately sets it apart from the old round pound and most other coins in circulation. The bi-metallic design further adds to its distinctiveness.

On the obverse (the “heads” side) of the coin, you'll find the fifth portrait of Queen Elizabeth II, designed by Jody Clark. This portrait was first introduced in 2015 and depicts the Queen wearing the Royal Diamond Diadem, which she wore for her coronation. The inscription around the portrait reads “ELIZABETH II D G REG F D” which is an abbreviation of “Elizabeth II Dei Gratia Regina Fidei Defensor,” meaning “Elizabeth II, by the Grace of God, Queen, Defender of the Faith.”

The reverse (the “tails” side) of the 2017 one pound coin features a design by David Pearce, winner of a public design competition. The design showcases a combination of floral emblems representing the four constituent countries of the United Kingdom: the rose for England, the thistle for Scotland, the daffodil for Wales, and the shamrock for Northern Ireland. These emblems sprout from a single stem within a royal diadem. This design symbolizes the unity of the nation. The year “2017” is also inscribed on the reverse of the coin.

But wait, there's more! The 2017 one pound coin also boasts a hidden security feature – a latent image. If you look closely at the bottom of the coin on the reverse side, you'll see a small image that changes between a pound symbol (£) and the number “1” when viewed from different angles. This is a clever trick that makes it even harder for counterfeiters to replicate the coin. Additionally, the coin has micro-lettering around both the obverse and reverse rims, adding another layer of security.

Why the 2017 One Pound Coin Matters

So, why should you care about the 2017 one pound coin? Well, for starters, it represents a significant upgrade in the security of our currency. The innovative design and advanced security features have made it much more difficult for counterfeiters to operate, protecting businesses and consumers alike. The introduction of the new coin also forced a much-needed modernization of coin-operated machines across the country.

Beyond its practical importance, the 2017 one pound coin also holds historical significance. It marks a key moment in the evolution of British coinage, representing a shift towards greater security and innovation. The public design competition for the reverse of the coin also engaged the nation in the process, giving people a sense of ownership over their currency. As time goes on, the 2017 one pound coin will likely become an increasingly sought-after collectible, representing a unique chapter in British history.

Moreover, the 2017 one pound coin serves as a reminder of the constant battle against counterfeiting. It highlights the importance of staying one step ahead of criminals and investing in new technologies to protect our financial systems. The success of the new one pound coin has demonstrated the effectiveness of proactive measures in combating counterfeiting and maintaining public confidence in our currency.

Is Your 2017 One Pound Coin Worth More Than a Pound?

Now for the burning question: is your 2017 one pound coin worth more than just a pound? Well, the short answer is: it depends. The vast majority of 2017 one pound coins in circulation are worth, well, a pound. However, certain factors can increase a coin's value to collectors.

Rarity: Some one pound coins are rarer than others due to lower mintage figures (the number of coins produced). Unfortunately, the 2017 one pound coin had a relatively high mintage, so it's not particularly rare in itself. However, keep an eye out for future years, as some may have lower mintages.

Errors: Error coins, those with mistakes made during the minting process, are often highly sought after by collectors. These errors can range from minor imperfections to significant deviations from the intended design. Examples include: Off-center strikes, double dies, and missing features. If you think you've found an error coin, it's best to consult with a reputable coin dealer or expert to get it authenticated.

Condition: The condition of a coin plays a significant role in its value. Coins in pristine, uncirculated condition are generally worth more than those that are worn or damaged. Collectors often use grading scales to assess the condition of coins, with terms like “Uncirculated,” “Extremely Fine,” and “Very Good” being used to describe different levels of preservation.

Special Editions: While the standard 2017 one pound coin isn't particularly valuable, keep an eye out for any special editions or commemorative versions that may be released in the future. These coins often have limited mintages and unique designs, making them more desirable to collectors.

To determine the value of your 2017 one pound coin, it's best to do some research and compare it to similar coins that have been sold recently. Online auction sites and coin collecting forums can be valuable resources for gauging market prices. Remember, the value of a coin can fluctuate depending on demand and other factors, so it's always a good idea to stay informed about current market trends.

How to Care for Your Coin Collection

If you're thinking about starting a coin collection, or if you already have one, it's important to know how to care for your coins properly. Here are a few tips to keep your 2017 one pound coin, and any other coins, in tip-top condition:

• Handle with care: Always handle coins by their edges to avoid scratching or damaging the surfaces. Avoid touching the faces of the coins with your bare hands, as oils and dirt from your skin can cause corrosion.
• Store properly: Store your coins in protective holders, such as coin albums, capsules, or sleeves. These will protect them from scratches, dust, and other environmental factors. Avoid storing coins in PVC holders, as PVC can damage coins over time.
• Clean gently: If your coins are dirty, clean them gently with a soft cloth or brush. Avoid using harsh chemicals or abrasive cleaners, as these can damage the surfaces of the coins. For more stubborn dirt, you can try soaking the coins in distilled water for a short period.
• Control humidity: Store your coin collection in a cool, dry place with stable humidity. High humidity can cause corrosion and other damage to coins. Consider using a dehumidifier if you live in a humid climate.

By following these simple tips, you can help preserve the value and beauty of your coin collection for years to come. Happy collecting!

Conclusion: The Enduring Appeal of the One Pound Coin

The 2017 one pound coin is more than just a piece of currency; it's a symbol of British innovation, security, and national identity. Its distinctive design, advanced security features, and historical significance make it a fascinating object to study and collect. Whether you're a seasoned numismatist or just a curious observer, the 2017 one pound coin offers a glimpse into the world of coinage and the stories it can tell. So, next time you find one in your pocket, take a moment to appreciate the craftsmanship and history behind this iconic piece of British currency. Who knows, it might just become a valuable part of your collection someday!