Best savings accounts for the new £1 coin

The new 12-sided pound coin is officially going into circulation today (28 March). The coin, which has been designed to be "the most secure coin in the world", comes with 12 sides, two different metals, micro-letting and a holographic-style image, as well as milled edges and a hidden security feature. You can find out more about it in our quick guide below.

It all sounds very technical, but we're all about making your money work as hard as possible, no matter what denomination it comes in. That's why we've taken a look at the best savings accounts if you only had the new £1 coin to put in.

Sounds simple enough, but not all accounts can be opened with this level of investment; some require an initial deposit of hundreds or even thousands of pounds, which may be out of reach for fledgling savers. So, where can you go if you only have a simple pound coin to save? We've got the answer.

The new £1 coin - quick guide

• Goes into circulation on 28 March 2017. The old style coin will remain legal tender until 15 October, after which you'll have to exchange any you find at a bank or Post Office counter.
  
  
• It's the first time the £1 coin has been redesigned in over 30 years.
  
  
• Designed to be difficult to counterfeit - around one in 30 of current £1 coins in circulation are thought to be fake - with The Royal Mint describing it as the most secure coin in the world.
  
  
• 12-sided and bimetallic, with the outer ring being gold coloured (nickel-brass) and the inner ring silver coloured (nickel-plated alloy).
  
  
• It comes with a latent or hologram-style image that changes from the £ symbol to a number 1 when looked at from different angles.
  
  
• Micro-letting (i.e. very small lettering) on the lower inside rim of both sides of the coin and milled edges (grooves on alternate sides).
  
  
• Hidden security feature built into the coin for added counterfeiting protection.
  
  
• It's thinner and weighs less than the current £1 coin, yet is slightly larger: the new coin is 2.8mm thick, weighs 8.75g, and has a maximum diameter of 23.43mm.
  
  
• Not all vending machines etc. are ready for the new coin just yet, so you may want to carry around an old style coin or two just in case.

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*Rates & features correct as at 28.03.2017. Source: Moneyfacts.co.uk