Artist Michael Armitage will design a new £1 coin which will enter circulation next year, Chancellor Rishi Sunak has announced.
The new design for the reverse or “tails” side of the coin will mark its 40th anniversary and it will be revealed later this year.
During a Royal College of Art’s (RCA) reception on Tuesday, Mr Sunak announced that Mr Armitage’s new design will celebrate the culture, creativity, and heritage and history of the UK in the 21st century.
Mr Sunak said: “I am delighted that Michael will lend his vision to the creation of this new £1 coin design in its 40th anniversary year. This coin will symbolise the rich tapestry of modern Britain and honour our deep heritage and history.”
Mr Armitage said: “It is a great privilege to have the opportunity to collaborate with the Royal Mint on the design of the new £1 coin.
“It is an honour to be part of the lineage of coin-making in the United Kingdom and I am grateful to the Chancellor and the selection panel for the opportunity to contribute to this history in considering what it is to be part of Great Britain today.”
Chief executive of the Royal Mint Anne Jessopp said: “The £1 coin is a symbol of Britain that is recognised around the world.
“As such, we are delighted to work with Michael Armitage to create a new design that celebrates the people of Britain and our diverse culture. It is the first new £1 design since 2017 and will combine our 1,100 years of craftsmanship with cutting-edge design to champion modern Britain.”
Mr Armitage was born in 1984 in Nairobi, Kenya, and lives and works between London and Nairobi. Earlier this year, the Royal Academy of Arts, London, elected him a Royal Academician in the category of painting.
He was chosen by the Chancellor on advice provided by an independent panel with expertise in coin design and art.
The 1983 £1 coin was fully redesigned in 2017, including the introduction of new security features.
The design will become the standard circulating £1 coin and will include the current “world-leading” high-security features to protect against counterfeiting, the Treasury said.
The Queen’s Speech on Tuesday contained plans for legislation to protect the future of cash.