Landmark reached as new pound coin overtakes its predecessor
The new pound coin has become more common than its round predecessor, the Treasury has announced.
There are now more new 12-sided coins in circulation than circular pounds.
Ministers announced the landmark as they urged the public to continue to return their old coins.
The Exchequer Secretary to the Treasury, Andrew Jones, is visiting a coin storage facility in Belfast today, where more than £350,000 worth of coins are processed and redistributed daily, to banks and businesses across North- ern Ireland. The old coins cease to be legal tender on 15 October.
The new version was introduced on 28 March.
“To have more new coins in circulation than old at this point is great news,” said Mr Jones.
“However, with less than 100 days to go, the clock is ticking. We are urging the public to spend, bank or donate their old pound coins and asking businesses who are yet to do so, to update their systems before the old coin ceases to be legal tender.”
Chief executive and deputy master of the Royal Mint, Adam Lawrence, said: “We hope our announcement about the changeover point in July will encourage those businesses who have not yet upgraded their equipment to do so ahead of the October 15 deadline.”