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Bank's spin on new £1 coin

Compatible counters for 12 sided coin

Isle of Man Bank has advised clients depositing cash at their branches, the new 12-sided UK £1 coins must be separated from Manx round coins.

Both the new coin, which went into circulation this week, and the existing Manx round specimen are legal tender. The Isle of Man has no plans to mirror the UK with an equivalent coin.

Isle of Man Bank says customers can exchange £1 coins at any branch, but it will not be issuing the UK round coin after October.

It has installed updated coin counters to accept the new £1 coin, while any future automation will also be compatible.  

The new coin went into circulation this week, and has a built-in anti-forgery feature, a hologram-type image which changes from £ to 1 as the coin moves.

It's been described as the most secure coin in the world.

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