When do shops stop accepting the old pound coin?

Andrew Cummings
October 12, 2017

But Mr Singh assured his customers that it would not affect them.

That's despite the supermarket giant announcing it has not modified all their shopping trolleys to accept the new tender.

"But for the time being there would be no problem". 'Cause as of this Sunday shops will no longer be accepting the classic round pound now its snazzy twelve-sided upgrade exists.

Mr Singh added: "We still do get quite a few of the old pound coins coming in".

It follows a similar announcement by discount retailer Poundland, which will be accepting round pounds until October 31.

The firm will allow customers to pay with the old-style coins for a week after the October 15 deadline imposed by the Royal Mint. According to the Guardian, with a week to go, about 500 million coins are still in circulation.

From Monday shops will be forbidden from handing out old £1 coins as change and will have the right to refuse to accept them.

Around one in every 30 old-style pound coins in people's change in recent years has been fake. One pound coins were first launched on April 21 1983 to replace £1 notes.

The new coin, of which 1.5 billion copies have been made, is "the safest in the world", said Kevin Clancy, director of the Royal Mint Museum.

If you still have £1 coins lying about after the deadline there is no need to panic, old coins can continue to be deposited into a customer account at most high street banks in the United Kingdom, but they won't help you if you're short of change for the bus after the cut off date.

The Post Office have also moved to reassure customers that they will be able to exchange old £1s after the 15th, saying: "We would like to reassure anyone who is unclear on what to do with their old £1 coins that the Post Office is here for you.

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".

If, like us, your entire "savings account" consists off an old piggy bank full of pound coins you might wanna prick your ears up. Why?

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