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Taking Care of the Pennies .....

Take care of the pennies and the pounds will take care of
themselves runs the saying; but in six months time the great British pound will
have a very new look. Out goes the round
coin that we are all so used to and in comes a thinner, lighter, yet slightly
larger twelve sided model.

Why the change? Well
apparently the old £1 coin is so easy to copy that one in thirty of the coins
in our pockets are forgeries. According
to the Royal Mint the new coin has a number of design features which will make
it harder to copy including micro lettering, alternate grooved edges and a
hologram-like image which changes from £ to 1 when the coin is tilted.

The new £1 coin is being introduced in March 2017 and
businesses will have until September of that year to change their machines and
systems before the old coin is phased out in Autumn 2017.

Whether the new £1 coin will prove as popular as the
recently introduced £5 note remains to be seen. Between collectors stashing away early models
of the note and others carrying out experiments to see if the note is as wear
resistant as it is claimed to be, the £5 note has had a testing introduction to
say the least.

If you’re looking for advice on investments, or if your
situation has changed and you may therefore need to review your existing
investment portfolio, contact Beckworth by using one of the links on our
website.