The coin was first issued on April 21, 1983, as it was felt that a coin would be more useful than the less robust £1 note amid the decline in its spending power and the growth of the vending industry.
A note lasted for just nine months on average, while a £1 coin, with its distinctive yellow "brassy" colour, can survive for upwards of 40 years.
The reverse designs of the £1 coin represent the UK and its four constituent parts - Scotland, Wales, Northern Ireland and England and the first series of designs took floral emblems as its theme.
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A damp and cold night ahead. Valentine's Day will start cloudy but become brighter in the afternoon. Risk of showers along the Kent coast.
Cold and damp tonight with outbreaks of rain. A cold and dull start to Valentine's Day but becoming drier and brighter by the afternoon.
Rain turning more patchy this afternoon but more persistent along the coast. Feeling cold in the brisk north-easterly wind.