A 15-year-old's design for the new £1 coin has been chosen ahead of more than 6,000 entries.

David Pearce's drawing will feature on the new currency that will be released in 2017.

He was told the news by George Osborne.

"Designing the new £1 coin was a brilliant opportunity to leave a lasting legacy on what will be the most secure coin in circulation anywhere," the Chancellor said.

"The competition captured the imagination of thousands of people and David Pearce's winning design will be recognised by millions in the years ahead."

1/5

  1. Gallery: In With The Old For New £1 Coin

    A new-look £1 coin is among the announcements the Chancellor is expected to make in his annual Budget statement.

The familiar round shape will be replaced with a 12-sided design, with the first of the new coins expected to enter circulation in 2017.

]]>

The new £1 coin resembles the 'threepenny bit', which was introduced back in 1937.

]]>