MSE News: New 12-sided £1 coin enters circulation - spend or save old-style coins NOW

Legacy_user

Britain's iconic £1 coin is to be phased out after more than three decades in circulation by a 12-sided replacement...

Read the full story:
'New 12-sided £1 coin enters circulation - spend or save old-style coins NOW'

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Winrick

Description of the coin as "thinner and lighter, but also wider" could be improved. How can it be simultaneously "thinner" and "wider"?

I know that I am being pedantic and the writer probably meant "flatter" and "wider" as to describe the different dimensions of the coin.

Jivesinger

parking machines are ready for the new coin, but some older machines can't be upgraded and so new equipment may be required. All machines will continue to accept the old coin.

What is the legal position if I have a pocket full of new £1 coins, but none of the old ones, and can't pay for parking as a result because the machine hasn't been converted?

If I have legal tender to pay, are they obliged to accept it or let me park free?

System

The article says it would be a month before we see one. I saw the first new fiver a couple of days after the launch as the customer been to London the day before.

Silvertabby

“ parking machines are ready for the new coin, but some older machines can't be upgraded and so new equipment may be required. All machines will continue to accept the old coin.
”
What is the legal position if I have a pocket full of new £1 coins, but none of the old ones, and can't pay for parking as a result because the machine hasn't been converted?

If I have legal tender to pay, are they obliged to accept it or let me park free?

Nice try, but I suspect you'd get a parking fine! We're going to keep a batch of old £ coins for as long as possible for use in parking meters etc.

System

Jivesinger wrote: »

What is the legal position if I have a pocket full of new £1 coins, but none of the old ones, and can't pay for parking as a result because the machine hasn't been converted?

If I have legal tender to pay, are they obliged to accept it or let me park free?

You could challenge the fine saying you only had 3 new £1 coins and a couple of 5p coins (some machines don't take 5p coins) on you. Then mention you should have updated your payment machines before 28/3.

Or if you can pay with card, you must pay with it.

Even a small town near me that charges 20p for three hours parking has a card paying feature - just in case you don't have 20p on you!

Pincher

After a couple years of Contactless, I find carrying change a bit annoying now.

Instead of upgrading parking meters for coins, I wish they would add contactless functionality.

daveyjp

Winrick wrote: »

Description of the coin as "thinner and lighter, but also wider" could be improved. How can it be simultaneously "thinner" and "wider"?

I know that I am being pedantic and the writer probably meant "flatter" and "wider" as to describe the different dimensions of the coin.

The report is correct.

You can't have degrees of flatness. Its an absolute - something is either flat or it isn't.

System

Pincher wrote: »

After a couple years of Contactless, I find carrying change a bit annoying now.

Instead of upgrading parking meters for coins, I wish they would add contactless functionality.

The hospital I go for my eyes has contactless payment for their car parking paying machines.

Pincher

ScarletMarble wrote: »

The hospital I go for my eyes has contactless payment for their car parking paying machines.

It's bound to happen. Just a shame they didn't use this as an opportunity to do more of them.

Kaston

Jivesinger wrote: »

What is the legal position if I have a pocket full of new £1 coins, but none of the old ones, and can't pay for parking as a result because the machine hasn't been converted?

If I have legal tender to pay, are they obliged to accept it or let me park free?

Unfortunately not. Just because a coin or banknote is legal tender, doesn't mean anyone is legally obliged to accept it