Sellers attempt to make quick buck with new £1

Warning for people to spend old coins before they are no longer accepted

The new £1 coin has been placed for sale online by sellers asking several times its face value.

The new 12-sided £1 coin started to enter circulation last Wednesday – and bags stuffed with the new coins have been delivered to banks up and down the country.

In Scotland, they were delivered only to the main cities – Edinburgh, Glasgow and Aberdeen – and will enter circulation more widely today.

New £1 coins have been placed for sale on eBay, with some sellers wanting £10plus and others asking three-figure sums for particular coins.

The new £1 coin could also prompt an upswing of fundraising drives by charities as people look to dispose of their old round pounds.

The legal status of the old round £1 coin will be withdrawn on October 15.

From this date, shops will no longer accept the old coins and people are being encouraged to use the old coins they are keeping stored at home, by spending or banking them, before then.

The National Council for Voluntary Organisations (NCVO) said in a blog on its website that there are likely to be “fundraising opportunities for charities both around the launch of the new coin and across the transition period”.

The Royal Mint in Llantrisant, South Wales, has been making millions of the new £1 coins per day in the run-up to the launch.

The coin has been described as the most secure in the world and boasts high-tech features, including a hologram.

But consumers craving a snack or trying to park may face confusion when they attempt to pay at vending and ticket machines, as some do not currently accept the new coin.

New £1 coins have been placed for sale on eBay

Picture: PA. The new 12-sided £1 coin began to enter circulation last Wednesday.