The Government has unvield a new 12-sided pound coin based on the threepenny bit.
Described as a “giant leap into the future” the new pound coin will replace the exisiting coin that the Treasury says has a 3% forgery rate – amounting to a total of more than 45m in circulation.
The coin, to be introduced in 2017, is based on the historic three pence piece, also known as the “threepenny bit”, which was the first coin to feature a portrait of Queen Elizabeth II. It will contain an array of technological advances making it difficult to forge.
As well as a “bimetallic” construction similar to the existing £2 coin, the new £1 will feature new banknote-strength security pioneered at the Royal Mint’s headquarters in Llantrisant, South Wales.
A Treasury spokesman said: “After 30 years’ loyal service the time is right to retire the current £1 coin and replace it with the most secure coin in the world."