Royal Mint unveils new pound coin

By: Matt McGovern Email
By: Matt McGovern Email
British officials say the new coin will be harder to fake, as many as 45 million of the pound coins in circulation are said to be counterfeit.

The 12-sided coin.

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.

Read More at: http://news4sanantonio.com/news/features/top-stories/stories/royal-mint-unveils-new-pound-coin-9622.shtml


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