In Greece, vasilopita is the baked New Year’s cake that traditionally contains a hidden coin.
The name means “Saint Basil’s pie” or “Saint Basil’s bread.” Families cut the cake around New Year’s Day, often assigning pieces to religious figures, the household, family members, and sometimes the home or business. Whoever finds the coin is said to receive good luck for the year.
Recipes vary by region and family. Vasilopita may resemble a sweet bread, cake, or citrus-flavored pastry, and it is often decorated with the numerals of the coming year. The coin is wrapped carefully before baking or inserted afterward so that it does not become a hazard.
The custom is associated with Saint Basil the Great, whose feast day is observed on January 1 in the Greek Orthodox tradition. Vasilopita should not be confused with tsoureki, a braided Easter bread, or melomakarona, a honey cookie commonly associated with Christmas.