In Greece’s New Year’s Eve tradition, the cake cut to reveal a hidden coin is vasilopita.
Vasilopita is a New Year cake or bread named for Saint Basil, whose feast day is celebrated on January 1 in the Greek Orthodox tradition. A coin is baked into the cake, and family members receive pieces according to a customary order. The person who finds the coin is believed to receive good luck in the coming year.
Recipes vary by region and family. Some versions are sweet, citrus-flavored cakes, while others resemble enriched breads or savory preparations. The household may cut an initial piece for Saint Basil, the home, or other symbolic recipients before distributing portions to people present.
Vasilopita is sometimes confused with tsoureki, a braided Greek Easter bread, or with baklava, a layered pastry made with filo and nuts. Those foods have different traditional associations. The defining New Year feature of vasilopita is the concealed coin and the luck attached to finding it.