Vasilopita is the Greek New Year's cake traditionally cut at midnight or on New Year's Day.
The name means “Saint Basil's pie” and refers to Saint Basil the Great, whose feast day is observed in Greece on January 1. Families cut the cake ceremonially, often giving the first slice to religious observance, the household, or Saint Basil before distributing slices to relatives and guests.
A coin is traditionally baked inside the cake. The person who finds it is said to receive good luck for the coming year. Because the coin is hidden, the cake must be cut and served carefully, and modern versions may use foil-wrapped coins for safety.
Vasilopita varies by region and household. It may resemble a sweet bread, a pound cake, or another enriched cake, and it is often decorated with the numerals of the new year. It is distinct from melomakarona and kourabiedes, which are Christmas-season sweets rather than the central New Year's cake.