Thus the reason for this new pound is simply that there’s an arms race going on between the coin makers and the coin forgers. And it’s central to a basic problem about fiat money. As soon as the government declares that this, this thing here, is worth money then there will be people trying to make more of that thing. It is never possible to make something which is impossible to forge. But it is possible to make something difficult to fake and that’s what is being done. Perhaps difficult enough to fake that no one will ever try or more likely so difficult that it will be a couple of decades before it becomes cheap enough to try. But a world of fiat money is just always going to end up with changes in the design of that money. Just because it’s too tempting to just go and make money rather than go earn it.