Vasilopita is the Greek New Year’s cake that traditionally hides a coin for the person who finds it. The name means Saint Basil’s pie or cake, and the cake is cut ceremonially around New Year’s Day.
A coin, called a flouri, is baked into the cake before serving. The person who receives the slice containing it is traditionally considered especially fortunate for the coming year. In many households, slices are assigned not only to family members but also to absent relatives, the household, or institutions such as the church.
Vasilopita is associated with Saint Basil the Great, whose feast day is observed on January 1 in Greek tradition. Accounts of the custom connect the hidden object with a story in which Saint Basil sought to return valuables to their owners, although versions of the legend differ.
Recipes vary by region and family. The cake may be flavored with citrus or mahleb, while some communities prepare a sweet bread or a savory pie instead. The defining feature is the New Year’s coin, not one single recipe.