UK agrees: Gibraltar to mint its own £1 coins

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 Monday, January 7, 2019 - 11:45

Overseas Territories and Crown Dependencies will, for the first time, be able to design and mint their own versions of the new 12- sided £1 coin. THIS MEANS THAT IN FUTURE GIBRALTAR WILL MINT ITS OWN £1 COINS. 

A statement from the UK Treasury says that the iconic £1 coin has long been recognised around the world and Brits living in UK territories may soon be able to spend unique versions of the new pound, rep lacing the older coins currently in use.

The coins are expected to feature images celebrating the heritage of these territories, with their history and culture pictured on the reverse side. Ministers believe this will symbolise the close links between the UK and its territories.

The new £1 coin, introduced in 2017, is the most secure of its kind in the world. Many territories and dependencies have, coins based on older versions of UK currency and they will now have the choice to use this cutting-edge technology and design to protect their cash.

This decision taken by UK ministers to roll out the coin underpins the UK’s commitment to its territories and dependencies, and will ensure they can benefit from the increased security that the 12-sided coin offers.

07-01-19 PANORAMAdailyGIBRALTAR