It is said that 1 in every 30 £1 coins are counterfeit and fake. As of March 28th 2017 after 30 years of the first £1 coins, The Bank of England will be introducing the new £1 coin. You may have already seen the new £5 note and to step up the security the £1 comes into play. It is a 12 sided also known as a: Dodecahedron, and around 1.5 billion coins are being produced by the Royal Mint. It has been said that security levels have been raised with the new £1 coin. This will help business and tax payers to reduce the costs.
Looking at the comparison the New £1 coin is more lighter than the old rounded coin. It is also larger and thinner.
When looking at the coin the appearance or the design has been changed
A new design of the English Rose, Scottish Thistle, Welsh Leek and the Northern Ireland Shamrock have been included.
As of 28th March till the 15th October 2017 there will be a co-circulation period. This period is where both the old and the new £1 will be used. After the 16th of October there is a demonstration period where all the new £1 coins will be in full circulation and in use. The old £1 will not be in use.