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New £1 coin unveiled by Royal Mint

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George Osborne has announced the winning design for the new £1 coin.

Fifteen-year-old David Pearce, who came up with the design, was told of the good news in a phone call from the Chancellor himself.

He triumphed after around 6,000 entries, with the new coin set to enter circulation in 2017.

Mr Osborne, who welcomed David and other young entrants to Downing Street to celebrate their success, said David’s design would be “recognised by millions in the years ahead”.

He said: “Designing the new £1 coin was a brilliant opportunity to leave a lasting legacy on what will be the most secure coin in circulation anywhere.

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