Vasilopita [New Year's Cake]

Vasilopita is a New Year's Day bread, cake or pie in Greece which contains a hidden coin which gives good luck to the receiver. It is associated with Saint Basil's day, January 1. 

On New Year's Day families cut the vasilopita to bless the house and bring good luck for the new year. This is usually done at midnight of New Year's Eve. At midnight the sign of the cross is etched with a knife across the cake. A piece of cake is sliced for each member of the family and any visitors present at the time, by order of age from eldest to youngest. In older times, the coin often was a valuable one, such as a gold sovereign. Nowadays there is often a prearranged gift, money, or otherwise, to be given to the coin recipient.

Made with flour, butter, sugar, eggs, milk, cognac, vanilla extract, orange zest and mahlepi. Dusted with poweder sugar on top. 

What is Mahlepi? Also known as mahlab, is a spice made from the ground seeds of the Prunus mahaleb cherry, a species native to the Middle East and now grown in the Mediterranean. It has a distinctive, fruity taste with notes of bitter almonds, cherries, rose, and vanilla, and a bitter aftertaste that changes when baked.