The current pound has become vulnerable to sophisticated counterfeiters, the finance ministry said, with about 3 percent of all 1-pound coins, or 45 million, believed to be forgeries.

The Royal Mint in the U.K. has unveiled a new 1-pound coin that it says will be the world's most counterfeit-proof coin. The 12-sided coin, which is set to be released by 2017, will still feature ...

Britain plans to replace its 1-pound coin with a new version modelled on the country's historic threepenny piece, finance minister George Osborne will announce later on Wednesday.