It's because the £1 is the only coin that's useful. To buy a 75p can of coke,for example, you have a few choices: Ridiculous numbers of 1 and 2ps which are now worth pretty much zilch, while when it was new it was worth closer to 20p now. A handful of silver coins or just the plain old pound. Personally I prefer to carry around a few pounds in case I need anything and fling the change in the penny jar to go to the bank in 5 years time. One of the flourishing shops in Aber is poundland - and you can bet there's a lot of pound coins being battered in there. The pound coin is just handy. It's easy to buy things, saves carrying around awkward and useless change everywhere and I admit it's the only coin I carry around with me. Nowadays, notes and plastic are the only real money - coins aren't as useful to people these days as they were in 1971. Using a worth calculator, I can see that if I took a 50p coin back to 1971 and wanted to know how how much spending power I had, it would be something between £5 and £10. We only have coins with the spending power of <£2 and now anything £1 or over is pretty much worthless making the only coins useful 50p, £1 and £2.