New £1 Coin
The AVA understands the requirements of The Royal Mint to maintain the integrity of the £1.00 coin and it is not a surprise that due to the increased level of counterfeiting that a new public consultation will be launched by the Chancellor for the introduction of a new £1.00 coin. The AVA welcomes the opportunity to be involved from the start of this process to look at the proposed introduction of the coin and what materials it is manufactured from and its specification.
It is imperative that the Vending industry works with all the other interested parties to ensure that the security and implementation can be undertaken at the lowest possible cost to industry due to its large legacy machine base. The AVA supports the development of a new coin which is more secure than its predecessor and can incorporate new technologies in the future and works through the existing machine base at minimal cost.