Just when we are all getting used to the new £5 note there is another change on the near horizon – March 2017 sees a new 12-sided £1 coin being launched.

The humble £1 coin is getting its first redesign since it was introduced 34 years ago in 1983. So from 28th March 2017 a new £1 coin will be available to use.

Here’s what you need to know (courtesy of the Royal Mint):

NewOnePoundCoin

One of the reasons for the change is that approximately one in thirty £1 coins in circulation is a counterfeitor - there is a link on this site for more information on how to identify counterfeits of the current round £1 coin.