The UK government is advising businesses to prepare for a new pound coin - the first major change to its design in its 33-year history.
The current pound coin has been in use since 1983, introduced to replace the old one pound notes that ceased to be issued in 1984 and were abolished altogether in 1988.
1. How are they different?
The new tender will be 12-sided and bimetallic - bringing it closer to the current two pound coin.
The outer ring will be gold-coloured and made from nickel-brass, with a silver-coloured inner ring made from a nickel-plated alloy.
Micro-lettering around the outer ring on the face side will repeatedly state "one pound".
The year of production will be embossed on the tails side. Grooves will be milled on the edge on the coins on alternate sides.
2. Why are they being introduced?
After 30 years of circulation, the current £1 coin has become increasingly vulnerable to sophisticated counterfeiters.
According to the Royal Mint, an estimated one in 30 pound coins are fake.
The new pound coin will also have new security features, including a hologram-like image that changes from a £ symbol to the number one when the coin is seen from different angles.
3. When will they be introduced?
The new coins will be introduced in March 2017.
There will be a "co-circulation period" between March and September 2017 where both old and new pound coins will be legal tender.
From autumn 2017 onwards - the old pound coin will no longer be accepted by businesses.
People will still be able to deposit them at Post Offices and most high street banks, however.
5. Are there any issues?
Critics have said the co-circulation period will cause serious problems, with vending machines struggling to accept the new coins.
The cost of changing over machine mechanisms for small and medium-sized businesses (SME) has been described as a burden too far.
Clive Lewis, head of enterprise at the Institute of Chartered Accountants in England and Wales, said: "SMEs have already had to adapt to a number of changes, such as pensions auto-enrolment and the prospect of quarterly digital tax returns, so the introduction of a new pound coin only adds to the burdens placed on small businesses' shoulders.
"The financial hit SMEs will have to take in preparing for the new pound coin will divert attention away from running their businesses and dealing with the economic consequences of Brexit."
Local authorities have complained that adapting parking meters to take the new coin will create an additional financial headache for councils that already suffering under substantial budget cuts.
