The U.K. has unveiled a new 12-sided pound coin that is being hailed as the most secure coin in the world.
The Royal Mint will begin replacing existing round £1 coins in 2017 in a bid to stamp out fraud. It estimates that 3% of £1 coins -- or nearly £46 million ($76 million) -- are fakes.
But it's not just criminals who will find life harder after the switch. Retailers, vending machine operators and other small firms could face costs to alter coin slots.
"We do have concerns about the extra costs of introducing a new pound coin. For example, small firms may have to pay out to replace machinery," said John Allan, national chairman of the Federation of Small Businesses.
But he also noted that these same firms tend to suffer the most from unknowingly accepting counterfeit currencies.