you have to either share more information about details of this or give the link to where you are getting this from so we can talk about it. maybe you misunderstood what it means, maybe they are making their own altcoin not a physical thing based on bitcoin.
or maybe it is as batang_bitcoin above said, a physical bitcoin.
The British Mint is planning to issue gold-backed physical Bitcoin. The British Mint is planning to issue gold-backed physical bitcoin. If it is really released, will everyone start it?
Physical Bitcoin is not Bitcoin. That is the very definition of fake news.
not always. a physical bitcoin is basically an object with a key pair (private/public key) written on it. that object can be a piece of paper, a plastic, metal, ... in different shapes and sizes containing actual keys and coins.