New 12-sided pound coin to enter circulation in March

fredandwilma

Now, is the time to start spending all those £1 coins you have been saving. They will cease to be legal tender from October 15th. I know i save my shiny £1 coins. The new £1 coin will resemble the old threepenny bit, (for those who remember them.) I used to save my threepenny bits, too.


http://www.bbc.co.uk/news/uk-38480180

The new 12-sided £1 coin will enter circulation on 28 March, the government has said.

The round £1 will be legal tender alongside the new, more-secure coin until October 15.

The public is being urged to use their current £1 coins or bank them before they lose their legal tender status.

The government estimates around a third of the £1.3 billion worth of coins stored in piggy banks or saving jars around the UK are the current £1 style.

Some of those returned by the public will be melted down and used to make the 12-sided version.

A new 12-sided £1 coin will enter circulation in March – and you’ll have until October to get rid of the old “round pound” in your savings jar.

The new coin is being introduced on March 1, the UK Government has announced and will be in circulation alongside the old coin – introduced more than 30 years ago – until it ceases to be legal tender on October 15.


People are being urged to return the £1 coins before they lose their legal tender status. They can either spend them before October 15 or bank them.

Around £1.3 billion worth of coins are stored in savings jars across the country, and the current £1 coin accounts for nearly a third of these, the Government said.

soulsaver

Assume these'll these work in existing shopping trollies, changing room lockers, vending machines etc. without modification?

unforeseen

soulsaver wrote: »

Assume these'll these work in existing shopping trollies, changing room lockers, vending machines etc. without modification?

It all depends on the sensing mechanisms

AS the new coin is thinner, lighter and slightly bigger in diameter then I foresee problems.

Vending machines tend to have electronic sensing so can be reprogrammed to take the new coins

Shopping trolleys - all depends on the increase in diameter. Will probably still work as they are not marvels of precision engineering

Others - all depends on the mechanisms

Eco_Miser

The round £1 will be legal tender alongside the new, more-secure coin until October 15.

The public is being urged to use their current £1 coins or bank them before they lose their legal tender status.

Legal tender status has no legal relevance to buying things, just to paying debts.

jimjames

fredandwilma wrote: »

Now, is the time to start spending all those £1 coins you have been saving.

If you're saving why would you suddenly go out and spend? Surely you'd put them in the bank or invest them instead?

Pincher

I like it. Getting too many fake light weight pound coins for my liking.

For the cashback, most transactions are by card these days.
All the coins go straight into the bag of change for feeding parking meters: which is the worry, I fully expect loads of stickers on meters saying DO NOT USE the 12 sided pound coins.

bigfreddiel

Has anyone noticed how new coins only appear at the end of a year?

Last year loads of new shiny £1 coins appeared around about the end of November, and even more strange they were dated 2015!

Cheers fj

bravotango

I have to agree that I'm happy to see the new £1 coin come into force, as I find there are too many fake £1 coins in circulation (in Central London when I go and buy lunch during the working week, on average I get given at least one fake coin every two-three weeks, and I have to end up giving it back to the cashier to say it is fake - they usually say it's real, but when they get the manager they agree it's fake, and give me a real £1 coin).

Hopefully the manager is responsible enough to hand this over to the police, and not just fob it off to the next customer!

colsten

soulsaver wrote: »

Assume these'll these work in existing shopping trollies, changing room lockers, vending machines etc. without modification?

The 1€ coins work in shopping trollies, here and in over half the western european countries :cool:

unforeseen

I must admit, having checked a 1€ coin against a £1 coin I reckon the new coin is going to be roughly the same dimensions as the € coin except it will have 12 sides

redpete

bigfreddiel wrote: »

Has anyone noticed how new coins only appear at the end of a year?

You mean like these new £1 coins that are being introduced in March?

Last year loads of new shiny £1 coins appeared around about the end of November, and even more strange they were dated 2015!

Not sure what conspiracy you are suspicious of.