LONDON, ENGLAND (AP) - After 30 years of work, the pound coin is ready for a makeover.
The Royal Mint announced plans Wednesday to replace the weighty flat piece with a 12-sided coin made with two separate metals. It resembles a "threepenny bit", which is a coin that circulated in Britain from 1937-1971.
British officials say the new coin will be harder to fake, as many as 45 million, or 3 percent, 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 says the goal is to "produce a pioneering new coin" that will boost confidence and cut fraud.
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