Introducing new £1 coin 'could cost £20m'

Introducing the new £1 coin could cost as much as £20m to the UK economy, the Royal Mint's Andrew Mills has said.

A new coin is set to be introduced in 2017 amid concerns the current version is vulnerable to counterfeiting,

Speaking to the Today programme, Mr Mills added the new coin is "suitably British" in its design,

First broadcast on BBC Radio 4's Today programme on Wednesday 19 March.