Central Banking

UK Royal Mint unveils Olympic kilo coins

kilo-coins2

The Royal Mint on Tuesday released the first ever coins in the UK to weigh one kilo. The gold and silver coins are collectors items designed to commemorate the London Olympics 2012.

"We've never done anything like this before with UK coinage," said Kevin Clancy, secretary of the Royal Mint Advisory Committee. Coins of this weight were not covered under the Coinage Act of 1971, which meant a new Act of Parliament had to be passed to secure legal tender status for the coins.

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