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Saturday, 20 April 2013

30 years old: how much do you know about the £1 coin

In April 1983 a shiny new £1 coin would have
bought a packet of 20 cigarettes, five pints of milk
or 30 minutes at a Manchester United match.
Today you pay closer to £8 for 20 Silk Cut, £2.50
for the milk and see only three minutes of the
football. But some things are cheaper: while £1
would only get you four minutes on a landline
phone call at peak time in 1983, today it would
give you at least 10 minutes.
The new coin was greeted less than
enthusiastically by some: the BBC reported how
Margaret Thatcher, then prime minister, told MPs
in 1984 that the £1 coin was "not very popular".
But they were with counterfeiters, and today are
the most commonly copied coin, with more than
40m fakes in circulation. They have also lasted
rather longer than the best-selling car that year,
the Austin Metro. So as the £1 coin reaches its
30th birthday, how much do you know about the
money in your pocket?

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