Looking back... One pound coins replace banknotes

The replacement for the £1 banknote was met with quiet resignation in Newtownabbey.

A spokesman for the Glengormley branch of the Northern Bank said that the bank had received “very few” queries regarding the new coin.

“It will be like anything new that comes along. People will show a bit of interest when it is a novelty,” he said.

However, some people felt that it de-valued their cash.

The new addition was slightly smaller than an original five pence piece, with a Latin inscription “Decus et Tutatem”, meaning “an ornament and a safeguard”.

It was comprised of nickel-brass and came with a milled edge.

It replaced the Bank of England one pound note which ceased to be issued at the end of 1984 and was removed from circulation.

Originally, more than 443 million pound coins were minted, featuring a depiction of an ornamental Royal Arms and a profile of Queen Elizabeth II.

One pound notes continue to be issued by the Royal Bank of Scotland.