The famous British pound coin is being replaced after a "loyal service" of 30 years. The replacement coin, which is due to be introduced in 2017, will be based on the threepenny bit and will feature 12-sides, making it one of the hardest in the world to fake. It will remain roughly the same size as the existing coin, but will also have a "bimetallic" construction similar to the existing £2 coin.
According to the treasury, the current pound has a 3% forgery rate - which means about £45m worth are currently in circulation.
"With advances in technology making high value coins like the £1 ever more vulnerable to counterfeiters it’s vital that we keep several paces ahead of the criminals to maintain the integrity of our currency," said the treasury. "We are particularly pleased that the coin will take a giant leap into the future, using cutting edge British technology while at the same time, paying a fitting tribute to past in the 12-sided design of the iconic threepenny bit."