British companies will have to adapt their equipment to the new coin of 1 pound

British companies have to prepare for the issuance of a new 12-sided coin of 1 pound, according to the Ministry of Finance of the country.
The site of the Royal Mint warns the companies of the need to adapt their equipment and prepare employees to the issue of the new coin, which is scheduled for March 2017. All machines that accept cash, have to be modified at this point.
There will be a 6-months long transition period for the companies to provide the ability to receive both new and old coins. After that, the current coin of 1 pound will be derived from a wide circulation, but most banks and post offices will accept old coins.
These actions are due to the fact that approximately every 30th coin of 1 pound now is a fake, according to the Mint.
"The new coin of 1 pound will be the most secure of its kind, and its features will be a serious barrier to counterfeiters," - said the representative of the Ministry of Finance David Gouk.
The new coin is composed of two metals: gold-colored outer ring - nickel and brass, inner ring of silver - from nickel alloy. On the coin there is an image that changes with graphic symbol of the pound sterling by the number 1, if you look at the coin at different angles, like a hologram. Around the rim on one side of the coin there is an inscription in tiny letters, "one pound".
In addition, the coin has the additional security measures to protect against counterfeiting, the details of which were not disclosed.