During the UK budget revealed today, George Osborne, the Chancellor of the Exchequer, said the UK needs a new £1 coin “to help reduce counterfeiting and ensure the integrity of the United Kingdom’s currency.”
Here are some details on the prototype from the Royal Mint:
“The proposed £1 coin design is distinctly British, with a twelve-sided shape which evokes memories of the pre-decimalization threepence piece.
“It will be constructed from two different coloured metals and contain an iSIS security feature — a revolutionary new high security coinage currency system developed by The Royal Mint.”
There’s will be a public design competition for the reverse side of the coin the UK hopes to introduce in 2017.