A new one pound coin, modelled on the threepenny bit, will enter circulation in March.
The new 12-sided one pound coin will be constructed from two different coloured metals and contain an iSIS security feature to combat counterfeiting.
Chief Executive of The Royal Mint, Adam Lawrence, said: “The current £1 coin design is now more than thirty years old and it has become increasingly vulnerable to counterfeiting over time. It is our aim to identify and produce a pioneering new coin which helps to reduce the opportunities for counterfeiting, helping to boost public confidence in the UK’s circulating coins.
The Royal Mint works closely with HM Treasury, the National Crime Agency and the cash-handling industry who are committed to maintaining the integrity of the UK’s currency and exploring ways in which counterfeiting can be combated. Together we ensure that every effort is made to maximise opportunities to identify and withdraw counterfeit coins from circulation.”
The new 12-sided £1 coin will enter circulation on Tuesday 28th March and the current pound coin will removed from circulation on Sunday 15th October