The Manx government has announced that it will not be issuing a 12-sided £1 coin when the UK switches.

It will carry on with the round coin that is in our pockets now.

The current Manx £1 will continue to be legal tender here, alongside the new and old UK pound coins.

In the UK the new 12-sided coin is being introduced in March.

From October the round pound will no longer be accepted in shops in the UK, but it will still be able to be exchanged by banks.

In the Isle of Man the new 12-sided UK coin will circulate alongside the round Manx pound and the round UK pound, with the latter being gradually repatriated to the UK.

The Manx Treasury says it will continue to monitor the situation and consider the introduction of a 12-sided Manx pound coin in the future.

The Isle of Man has a history of going it alone in terms of its currency.

When the Bank of England ditched the £1 note in 1984, the Isle of Man continued to print them. Some are still in circulation now.

Later it introduced a plastic version but that has now been withdrawn.

After decimalisation the Bank of England did not replace the 10-shilling note. But the Isle of Man introduced a 50p note.

The UK says it’s changing the coin to make life harder for forgers.