the UK royal mint to manufacture new 1 pound coin based on threepenny bit

the UK royal mint to manufacture new £1 coin based on threepenny bit
image © royal mint

as part of the UK’s budget speech, george osborne, chancellor of the exchequer, has confirmed that the royal mint will manufacture and introduce a new £1 coin to help reduce counterfeiting. the new 12-sided pound sterling is based on the threepenny bit and is said to be the hardest in the world to fake.

the royal mint has developed world-leading anti-counterfeiting technology which will enable her majesty’s treasury to modernize the united kingdom’s circulating currency with the production of a brand new £1 coin. the royal mint has also produced a prototype for a replacement £1 currency which utilizes multiple layers of cutting edge technology to rapidly reduce the rate of counterfeit coins entering general circulation. the proposed coin is supposedly the most secure circulating coin in the world to date, and is expected to be introduced into circulation in 2017.

the new one pound coin
video courtesy royal mint

the coin is based on the three pence piece, which was the first coin to feature a portrait of queen elizabeth II