A coin is traditionally hidden in the Greek New Year’s cake called vasilopita.
The cake is cut at New Year, often after midnight or on New Year’s Day, and slices are distributed to family members, guests, and sometimes symbolic recipients such as the household or a saint. The person who finds the coin is believed to receive good luck for the coming year.
Vasilopita means “Saint Basil’s pie” or “Saint Basil’s cake.” In Greek tradition, the custom is connected with Saint Basil the Great, whose feast day is celebrated on January 1. Stories about the coin vary, but they generally explain how valuables were returned to people through a baked loaf or cake.
Recipes differ by region and family. Vasilopita may be a sweet bread, a citrus-flavored cake, or another baked preparation. The coin is usually wrapped carefully before being placed inside to reduce the risk of accidentally biting it.