NEW POUND COIN ARRIVES IN CITY
ROYAL Mint workers can’t spend their new £1 coins at the local pub and supermarket in Llantrisant – because the vending machines and trolleys don’t accept them.
More than 300 million of the shiny new coins made at the Royal Mint at its high-security Welsh base were released yesterday.
But more than 700 employees at the Royal Mint factory will struggle to use the 12-sided new coin.
The nearest Aldi supermarket to the Royal Mint in Llantrisant will not take the new £1 coins in their trolleys, nor will the vending machines in the nearest pub The Three Saints.
One mint worker said: “We are very proud of the new coins – but it is a bit daft that even our nearest pub can’t take it in their vending machine.
“Really it is up to the shops, supermarkets, pubs and vending machine companies to catch up. This is not a secret.”
Both the new and old coin will be legal tender until October 15 this year, when the old coin will cease to be of any value. It is the first time the £1 has been altered since 1983.
Cardiff was one of 14 cities around the UK where the coin was made available yesterday.
Three banks in the city centre have began circulating the coins, including Barclays in St Davids Centre, Lloyds Bank on Queen Street and HSBC on Churchill Way.
A number of people queued up to get their hands on the first ones.
About a quarter of the UK’s 100,000 pay and display machines won’t have been updated in time to accept the new 12-sided coin but most of Cardiff council’s ticket machines appear to be accepting the coins.
We put the pay and display machines on the Riverside to the test and they took the new coin.
Chards is a leading coin and bullion dealer based in the UK.
The firm buys and trades coins, jewellery and specialises in valuable gold and silver.
According to the experts, the most valuable of all the £1 coins will be the “proof” coins - the special pre-production samples – often used for “approval” purposes and produced to a much higher standard of finish.
A Chards statement said: “Bear in mind they are producing over 2.2 billion £1 coins this year.
“We do not think that the 2017 circulation £1 coin will be a good investment – however, the collector coins such as the silver proof, silver proof piedfort and gold proof will be the ones to invest in.”
Many vending machines have not been adapted in time for the rollout and Tesco has admitted that some its trolleys are not ready
And only about 40% of the half a million vending machines in the UK have been updated in time.