UK Unveils New 12-Sided Pound Coin

World | March 19, 2014, Wednesday // 17:46|  views

Photo by EPA/BGNES.

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.

Tags: coin, Royal Mint, counterfeit, Queen Elizabeth II, fraud


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