After 30 years of work, the pound coin is ready for a makeover, AP reported. The Royal Mint announced plans Wednesday to replace the weighty flat piece with a 12-sided coin made with two separate metals. It resembles a "threepenny bit" - a coin that circulated in Britain from 1937-1971. British officials say the new coin will be harder to fake - as many as 45 million, or 3 percent, of the pound coins in circulation are said to be counterfeit. The new coin, which will start to circulate in 2017, will feature a portrait of Queen Elizabeth II. Royal Mint chief executive Adam Lawrence says the goal is to "produce a pioneering new coin" that will boost confidence and cut fraud.
