Billion new pound coins roll out of the Mint

The billionth new £1 coin has passed through the Royal Mint’s production line, as we prepare to bid farewell to the old “round pound”.

People are being urged to dig out their old coins from piggy banks and crevices in sofas before they lose their legal tender status on October 15.

The new 12-sided pound coin entered circulation in March, and by mid-july, there will be more new coins in circulation than old, the Treasury said. People have already returned 800 million of the old coins.

One pound coins were first launched on April 21 1983 to replace £1 notes.