We are saying goodbye to the £1 coin which was introduced in 1983 to be replaced with a two tone coin with 12 edges like the threepenny piece which was discontinued in 1971.
The new £1 will come into use in 2017and is said to be the most secure coin in the world. Currently as many as 3% of all £1 coins in circulation are counterfeit.
We are already heading towards using plastic notes as is the common practise in Australia and Canada, so it is all change then.
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