A new one pound coin with twelve sides is set to enter circulation in March.
The coin, modelled on the old threepenny bit, will be constructed from two different coloured metals.
It will also have advanced security features to prevent counterfeiting.
“The current £1 coin design is now more than thirty years old and it has become increasingly vulnerable to counterfeiting over time,” said the Chief Executive of the Royal Mint, Adam Lawrence.
“It is our aim to identify and produce a pioneering new coin which helps to reduce the opportunities for counterfeiting, helping to boost public confidence in the UK’s circulating coins.
“The Royal Mint works closely with HM Treasury, the National Crime Agency and the cash-handling industry who are committed to maintaining the integrity of the UK’s currency and exploring ways in which counterfeiting can be combated.
“Together we ensure that every effort is made to maximise opportunities to identify and withdraw counterfeit coins from circulation,” he added.
The new coin will enter circulation on Tuesday 28th March and the current pound coin will removed from circulation on Sunday 15th October.