In Greece’s New Year celebration, vasilopita is the baked item traditionally made with a hidden coin.
Vasilopita is a New Year cake or sweet bread named after Saint Basil, whose feast day is celebrated in Greece on January 1. A coin, called a flouri, is concealed in the mixture before baking. The person who receives the slice containing it is traditionally believed to have good luck for the coming year.
Families often cut the cake after midnight or on New Year’s Day. In many households, slices are distributed symbolically to Christ, the household, and individual family members before the remaining portions are served. Businesses, clubs, and organizations may hold their own vasilopita cutting ceremonies.
Recipes vary by region and family, so vasilopita can resemble a cake, brioche, or citrus-flavored sweet bread. It is not the same as baklava, which is a layered pastry made with nuts and syrup and is served throughout the year.