Great Britain plans to replace a 1-pound coin in 2017 as part of a crackdown on counterfeiters, Reuters reports. The new pound will oust the present model which has been in circulation for 30 years and will have features making it one of the most secure coins in the world. The Royal Mint calculated about 3% of one pound coins is counterfeit. In some areas of the United Kingdom, this share is up to 6%. The overall amount of counterfeit coins is 45 million.
The new pound will have a bi-metallic construction and use the Mint’s Integrated Secure Identification System technology. The system has three security levels and presents increased opportunities for law enforcement to investigate and disrupt the producers and distributors of counterfeit currency.