Channel Island pound coins will be taken out of circulation this year, as the new 12-sided UK pound is introduced.
The new coin will be put into circulation on 28th March and old coins won't be legal tender by October.
Jersey and Guernsey aren't intending to introduce their own new coin, so the islands will rely on pound notes and the UK coin.
The Royal Mint have labelled the new coin 'the most secure in the world', saying it will be much more difficult to forge.
Jersey's Assistant Treasury Minister, Constable John Refault, says the counterfeits meant businesses were losing out.