Just days left to get rid of old pound coins

Sunday Herald - - NEWS -

CON­SUMERS have just two weeks left to spend the old one pound coins in their pock­ets be­fore it is phased out this month.

The old coins will no longer be le­gal ten­der from Sun­day, October 15, with a bil­lion taken out of cir­cu­la­tion al­ready. From Mon­day, October 16, shops will no longer be obliged to ac­cept the old coins and they must be de­posited in bank ac­counts. Banks are cur­rently alert­ing cus­tomers to the dead­line.

A spokesman for the Royal Mint said: “From mid­night on Sun­day October 15, shops will no longer ac­cept these coins, but you will still be able to take them to your bank. We would en­cour­age you to spend, bank or do­nate your round one pound coins be­fore October 15.”

The new coin was in­tro­duced on March 28 be­cause one in 30 old pound coins cur­rently in cir­cu­la­tion are fake, ac­cord­ing to the Royal Mint.

The 12-sided ver­sion is de­signed to be harder to coun­ter­feit. It is bimetal­lic – the outer ring is nickel brass and the in­ner ring is nickel-plated al­loy.

The old one pound coin was in­tro­duced in 1983 as part of the phas­ing out of the one pound note, which was with­drawn five years later.

Af­ter October 16, you’ll have to take your old pound coins to the bank to cash them in

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