Britain plans to replace its one pound coin in 2017 with "the most secure coin in circulation in the world" as it cracks down on fake currency, said the finance ministry.
A British one pound coin. Photo: AFP
The Treasury says the design of the current pound coin, which has been in circulation for more than 30 years, leaves it vulnerable to sophisticated counterfeiters.
The Royal Mint estimates about 3 percent of all one pound coins, or 45 million, are now forgeries. In some parts of the United Kingdom, it is as high as 6 percent.
Reuters reports the new two-coloured coin, designed to have 12 sides like the pre-decimal three-pence piece or "threepenny bit", will introduced in 2017.
