The £1 coin has celebrated its 30th birthday. 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 can survive for upwards of 40 years. The purchasing power of the £1 coin has changed considerably since it first became legal tender. A loaf of bread cost 38p in 1983 according to Office for National Statistics figures, compared with £1.24 by 2012.
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