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.
More top news
Len and Val Fitzgerald are retired and their lender Santander says their mortgage extension would run past its maximum age of 75.
Peak pollution levels outside some of our city schools are more than 7 times higher than others. ITV Meridian investigation.
Delays and cancellations at South Western Railway are “not good enough”, according to the Government who have ordered an independent review.