Will the new £1 coin be a success?

It is now less than two months until the new £1 coin enters circulation on 28 March 2017.

The new £1 coin will be 12-sided and will replace the round shaped £1 coin that has been in use for 30 years. The new coin is being introduced to help combat the problem of counterfeit coins and will, according to the Royal Mint, be the most secure coin in the world.

It has been estimated that as much as £1.3 billion worth of coins are stored in savings jars across the country and the £1 coin is thought to account for a third of this amount.

Before you ask, yes, the new and old coins will continue to be in circulation.