Royal Mint unveils new pound coin
LONDON — After 30 years of work, the pound coin is ready for a makeover.
LONDON — After 30 years of work, the pound coin is ready for a makeover.
The Royal Mint announced plans today (March 19) to replace the weighty flat piece with a 12-sided coin made with two separate metals. It resembles a “threepenny bit” — a coin that circulated in Britain from 1937 to 1971.
British officials said the new coin will be harder to fake — as many as 45 million, or 3 per cent, of the pound coins in circulation are said to be counterfeit.
The new coin, which will start to circulate in 2017, will feature a portrait of Queen Elizabeth II.
Royal Mint chief executive Adam Lawrence said the goal is to “produce a pioneering new coin” that will boost confidence and cut fraud. AP