A NEW 12-sided £1 coin has entered circulation, with early teething problems expected at coin-operated machines across the country.

The coin, which entered circulation on Tuesday, has been described as the most secure in the world and boasts hi-tech features, including a hologram.

Its introduction aims to cut down the number of counterfeits, as around 1 in 30 £1 coins are thought to be fake, and is being rolled out gradually at banks nationwide.

Glasgow Times:

But consumers craving a snack or attempting to park their car could face confusion, as not all vending and ticket machines will immediately accept the upgraded coin.

Trolleys at supermarket giant Tesco will be unlocked over the next few months as the company installs upgrades to cope with the new coin, but a spokesman said “fewer than 200” stores will be affected.

Based on the old threepenny bit, they have been produced at the rate of three million per day by the Royal Mint, and will co-exist with the old version until it ceases to be legal tender on 15 October.

The Automatic Vending Association (AVA) estimates that 85% of vending machines will accept the new coin, and that all units will be upgraded by end of the transition period.

The Royal Mint has produced more than two billion round £1 coins since 1983, but consumers can now expect the new to design to turn up in their change, as it gradually filters into use.

The Evening Times got their hands on one of the new coins in circulation and took out on the streets of Glasgow to see what people thought.

Darren Christie, 34, recruitment consultant, said: “If it’s going to get rid of illegitimate coins then yes, I think it’s a good idea. It could help the economy as well to have rid of all the fakes, but if not, it’s not something that’s going to keep me awake at night.”

Daniel Kay, 72, retired, said: “I think it’s a bit unfair on the shops that have vending machines that then have to replace them all, it could cost them money. If it helps get rid of the forged coins in the long run though, I’d say that’s a good thing.”

Lucie Sucha, 27, student, said: “If there are a lot of forgeries then it would be good to get rid of those, but people might not know that they won’t be able to use the old coins any more quite soon, that could be a problem. It’s a really nice coin, though, and it’ll be good to get rid of all the fakes.”

Alison Cairns, 62, auxiliary nurse, said: “I’m not sure about it, because you hear that it will cost businesses thousands to update their coin-operated machines to accept the new coin. I don’t know if it’s worth the problems it might cause for people.”

Ainsley Cairns, 32, student, said: “I think it’s a good idea in principle, because it’ll cut down on the number of counterfeit coins. I hope they’ve done enough consultation with businesses to make sure they’re aware of the all the changes they might have to make.”

Kwaku Asante, 22, student, said: “It’s good that they’ll be harder to forge, but if it’s only one in 30 that are fake then I think it’s a waste of time. If it was £20 notes then I could understand because that’s more money being lost, but for only £1 coins then it’s not worth the problems it could cause. I think it’s a bit pointless to be honest.”