Central Banking

New UK coinage meets lukewarm reception

New coin and banknote designs are almost inevitably greeted with criticism and the first new coin designs for 40 years from the UK's Royal Mint, unveiled on 3 April, were no exception. Historians, designers and MPs have already criticised them.

Hundreds of designers had entered a competition to design the new coins, which was won by Matthew Dent from North Wales.

The six designs on the 1p, 2p, 5p, 20p, 50p and £1 coins can be pieced together to form a complete image of the royal coat of arms.