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New pound coin designed to combat counterfeiting
A new £1 coin, billed by the Royal Mint as the "most secure coin in the world", is to be introduced in 2017.
The move comes amid concerns about the 30-year old coin's vulnerability to counterfeiting, with an estimated 45 million forgeries in circulation.
The new coin is based on the design of the old threepenny bit, a 12-sided coin in circulation between 1937 and 1971.
A competition will be held to decide what image to put on the "tails" side of the coin.
The Royal Mint, which believes 3% of existing £1 coins are fake, said the move would increase "public confidence" in the UK's currency and reduce costs for banks and other businesses.
Read more here — > http://www.bbc.co.uk/news/uk-politics-26632863
How do you spot a fake pound coin? — > http://news.bbc.co.uk/1/hi/magazine/7628930.stm
The move comes amid concerns about the 30-year old coin's vulnerability to counterfeiting, with an estimated 45 million forgeries in circulation.
The new coin is based on the design of the old threepenny bit, a 12-sided coin in circulation between 1937 and 1971.
A competition will be held to decide what image to put on the "tails" side of the coin.
The Royal Mint, which believes 3% of existing £1 coins are fake, said the move would increase "public confidence" in the UK's currency and reduce costs for banks and other businesses.
Read more here — > http://www.bbc.co.uk/news/uk-politics-26632863
How do you spot a fake pound coin? — > http://news.bbc.co.uk/1/hi/magazine/7628930.stm
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