The new 12-sided £1 coin is ‘going global,’the UK Treasury has announced,the Press Association is reporting today.(Sunday)

Overseas territories and Crown dependencies such as the Isle of Man will be able to design and mint their own versions of it.

The coin, which was introduced in 2017 and boasts features designed to thwart criminals trying to produce copies, has been described by the UK Government as ‘the most secure of its kind in the world’.

The move means those living in the island may soon be able to spend the bespoke versions of the new pound coin, replacing the older coins currently in use.

To produce their own 12-sided £1-coin, overseas territories and Crown dependencies will inform the Royal Mint, who will ensure that the same security standards are met before approving and supplying them with the necessary blank or struck coins.

Features of the new £1 coin to thwart counterfeiters include intermittent milled edges and the denomination and year date incorporated in micro-text on the coin.

Robert Jenrick, Exchequer Secretary to the UK Treasury, said: ’The Great British pound is internationally recognised and as we extend the new £1 coin to our territories and dependencies, we will see new designs emerge that together symbolise our shared history.

’In the same way that the rose, leek, thistle and shamrock are used on our coin to represent the four nations of the UK, these new designs will reflect the rich and varying British communities across the world.

’From the Falklands to Gibraltar, this move sends a clear message of our unshakeable commitment to our territories around the globe."

Full report in this week’s Examiner business in the shops Tuesday.