Vasilopita is the Greek New Year's cake traditionally baked with a hidden coin inside.
The cake is cut around New Year's Day, often after midnight or during a family gathering. The person who finds the coin is traditionally believed to receive good luck for the coming year. A household may also cut symbolic portions for religious figures, the home, or absent family members before serving individual slices.
Vasilopita is associated with Saint Basil, whose feast day is celebrated in Greece on January 1. The story behind the cake connects it with a charitable legend: Basil supposedly asked people to return valuables that had been collected for ransom, and the items were baked into loaves so they could be distributed. The exact recipe varies by region and family.
Although it is often called a cake, vasilopita can resemble a sweet bread or a citrus-flavored loaf. Ingredients may include orange zest, mahleb, almonds, or yogurt, depending on the recipe. It should not be confused with tsoureki, the braided sweet bread commonly associated with Easter. The hidden coin, rather than one fixed recipe, is the defining New Year feature.