The Great British £1 coin gets a redesign

Based on the historical 'threepenny bit' the pound's new look and will feature 12-sides, making it one of the hardest in the world to counterfeit. Reports cite that the size will remain roughly the same the existing coin, but will also have a bi-metallic, two-tone construction similar to the country's existing £2 coin.

"With advances in technology making high value coins like the £1 more vulnerable to counterfeiters it's vital that we keep several paces ahead of the criminals to maintain the integrity of our currency," said a statement from the British treasury. "We are particularly pleased that the coin will take a giant leap into the future, using cutting edge British technology while at the same time, paying a fitting tribute to past in the 12-sided design of the iconic threepenny bit."

The current pound coin has a 3% forgery rate, a fact that has led to approximately £45m worth of fakes currently in circulation, according to the treasury.