Vasilopita is the Greek New Year cake that traditionally hides a coin inside it.
The cake is named for Saint Basil, whose feast day is celebrated on January 1 in the Greek Orthodox tradition. During the New Year celebration, the cake is cut ceremonially, with portions often assigned to Christ, the household, and family members. Whoever receives the slice containing the coin is traditionally thought to have good luck for the coming year.
Recipes vary considerably. Some vasilopitas resemble a sweet bread flavored with citrus or mahleb, while others are cake-like and may be decorated with the numerals of the new year. The coin is wrapped or inserted carefully, and diners are warned to eat slowly so it does not become a choking hazard.
Vasilopita is not the same dessert as baklava, which is made from layered pastry, nuts, and syrup. The defining feature of vasilopita is the hidden coin and its New Year ceremony.