Treasury Licenses Out New £1 Coin Design

By Gary Cutlack on at

The little bits of island around the world that are still technically part of the UK empire may soon be using the new £1 coin, thanks to the Treasury giving approval for dependencies and territories to mint their own £1 clones.

That means the likes of the islands of Man, Jersey and Guernsey could do their own versions of the new £1 if they want, along with the further overseas territories of the Falklands, Gibraltar and the Cayman Islands.

The Falklands, for example, uses its own version of the pound – fixed at a one-to-one exchange rate with the British pound – and despite having its own series of bank notes the Bank of England notes and coins are readily accepted there. The Cayman Islands use their own type of unique, tradable, dollar, so probably won't be bothering. Jersey and Guernsey, if you've never been or weren't paying attention during Bergerac, have their own local pounds too – but all UK notes and coins are legal tender too. So again, probably not much point bothering.

They'd be able to put their own images on them, though, which might make them worth more than £1 to collectors and perhaps worth minting a few to stick in cases and sell to tourists. [BBC]