Vasilopita is the Greek New Year's cake containing a hidden coin for good luck. The person who finds the coin in the cut portion is traditionally considered blessed with good fortune for the coming year.
The cake is named after Saint Basil, or Agios Vasilis, whose feast day in the Greek tradition is celebrated on January 1. Families commonly cut the cake around New Year's Day, sometimes assigning pieces symbolically to the household, absent relatives, or the church.
Recipes vary by region and family. Vasilopita may be a sweet bread, a citrus-flavored cake, or another baked preparation, and the coin is wrapped carefully before being placed inside. Because the coin is hidden, diners must eat cautiously.
Vasilopita is not simply another name for baklava. Baklava is a layered pastry made with filo, nuts, and syrup, while vasilopita is the New Year cake associated with the concealed coin. The tradition also exists among Greek communities outside Greece.