UK Unveils New 12-Sided Pound Coin
A new 12-sided GBP 1 coin made with two separate metals will replace Britain's pound coin after 30 years of work, the Royal Mint announced Wednesday.
It resembles a "threepenny bit", a coin that circulated in Britain from 1937 to 1971.
British officials claim the new coin will be harder to fake. Some 45 million, or 3%, of the pound coins now in circulation are said to be counterfeit.
The new coin, which will circulate starting in 2017, will feature a portrait of Queen Elizabeth II or whoever the monarch is at the time.
The goal is to produce a pioneering new coin that will boost confidence and cut fraud, according to Royal Mint chief executive Adam Lawrence.