Still getting lots of old £1 coins

HornetSaver

Not really sure where to put this, but I suppose I am sort of annoyed at some businesses and happy with others.

Long story short, I have a very strict budget to stick to due to an upcoming large purchase, and the only way I'm managing to stick to it is to deal exclusively in cash (bills excluded, but my cash budget takes these costs into consideration) and under no circumstances draw out more than my weekly allowance. I can generally go something like £15 per week under budget, whereas when I was trying to do it but using cards I was averaging £20 per week above it.

Anyway, cash is king for me. As a result I'm receiving back a lot of change, and am still getting a large amount of old style £1 coins. This is somewhat annoying as what I typically do is stick any £1s that I don't spend that day (I often only spend at one place on a given day, so we're talking a majority of them) in the piggy bank, but there's only something like six weeks left to spend the old ones. I will of course do this, but it's a PITA as I actually like the idea of putting stuff in a piggy bank and it being a big deal to open that pot.

Shouldn't they be stopping giving old ones out as change by now?

coffeehound

Companies are dragging their heels sending the old ones back apparently

http://www.bbc.co.uk/news/uk-41073689

Wonder if they'll need to extend the deadline?

IAmWales

Have two piggy banks. The bank will still accept the old ones after October.

I have over a thousand in a massive bottle, that's so heavy I'll need someone to lift it for me!

shaun_from_Africa

IAmWales wrote: »

I have over a thousand in a massive bottle, that's so heavy I'll need someone to lift it for me!

1000 £1 coins weighs 9.5Kg so I would be a bit wary of lifting the bottle in case the bottom decides to give way.

JReacher1

I would ask them to give you a new pound coin not an old one in your change. I am sure most people will be happy to oblige.

stuartJo1989

JReacher1 wrote: »

I would ask them to give you a new pound coin not an old one in your change. I am sure most people will be happy to oblige.

Or lower denominations

tberry6686

I know of 5 businesses that are hoarding the old coins because they have old vending machines that will not accept the new ones without upgrades costing more than the machines are worth.

I wonder if that is why the old ones aren't coming back very quickly

System

It's going to be 'fun' for supermarkets self scans in Oct. The coins are in hoppers. Coins are added to the top. Coins in change are dispensed from the bottom. Customers will use their old £1 coins in these. Customers a few days later get them in their change. Unless the supermarkets go through their self scans £1 hoppers daily and remove the old ones to replace with new ones - customers will be demanding to swap the old ones.

OP - when the cashier has the till open to give change, this is the time to say "please don't give me any old £1 coins". I work in retail and some customers ask me to give it in certain ways - "can I have two fivers instead of a tenner" "can I have change in coins please - using a pay n display machine tomorrow" etc

LadyDee

HornetSaver wrote: »

Not really sure where to put this, but I suppose I am sort of annoyed at some businesses and happy with others.

Long story short, I have a very strict budget to stick to due to an upcoming large purchase, and the only way I'm managing to stick to it is to deal exclusively in cash (bills excluded, but my cash budget takes these costs into consideration) and under no circumstances draw out more than my weekly allowance. I can generally go something like £15 per week under budget, whereas when I was trying to do it but using cards I was averaging £20 per week above it.

Anyway, cash is king for me. As a result I'm receiving back a lot of change, and am still getting a large amount of old style £1 coins. This is somewhat annoying as what I typically do is stick any £1s that I don't spend that day (I often only spend at one place on a given day, so we're talking a majority of them) in the piggy bank, but there's only something like six weeks left to spend the old ones. I will of course do this, but it's a PITA as I actually like the idea of putting stuff in a piggy bank and it being a big deal to open that pot.

Shouldn't they be stopping giving old ones out as change by now?

Each time you get £5 worth why not spend that the next day and put a £5 note in a 'savings' purse?

photome

ScarletMarble wrote: »

It's going to be 'fun' for supermarkets self scans in Oct. The coins are in hoppers. Coins are added to the top. Coins in change are dispensed from the bottom. Customers will use their old £1 coins in these. Customers a few days later get them in their change. Unless the supermarkets go through their self scans £1 hoppers daily and remove the old ones to replace with new ones - customers will be demanding to swap the old ones.

OP - when the cashier has the till open to give change, this is the time to say "please don't give me any old £1 coins". I work in retail and some customers ask me to give it in certain ways - "can I have two fivers instead of a tenner" "can I have change in coins please - using a pay n display machine tomorrow" etc

It's simple and quick to change the hoppers so that only the new coins go in the hoppers and old coins go in the cash box, if businesses haven't done that by now they will be doing so shortly but they had to wait until there is a high percentage of new coins in circulation

neilmcl

I don't see what the big deal is. If your budget is so tight that you end up spending cash then you don't have an problem as you'll continue to spend any old style £1 coins anyway, and even after the end of Oct the banks will continue to exchange them for some time to come if you have any left over.