Withdrawal of Old £1 Coin from 15 October 2017

Ten days to go . . . and the old pound coin will be withdrawn from circulation. From 11.59pm on Sunday 15th October the old round style £1 coin will cease to be legal tender.

Image of old style pound coinSo be aware . . . and either use, exchange, or bank any of the old style £1 coins you may have before the October 15th deadline, as after this date only the new 12-sided £1 coins can be used.

Up until October 15th shops and supermarkets are entitled to give out the old coin and if you do receive one in your change you can ask the cashier to exchange it for the new £1 coin – if they have any.

After 15th October businesses are under no obligation to accept the old £1 coin and any unspent coins can be traded in at banks. However, this is only a temporary measure, so it’s a good idea to spend or exchange the coins now to avoid being stuck with them in the future.

Image of Piggy BankSo dig deep . . . and fish out any of the old round £1 coins that you may have lurking in pockets, purses and piggy banks or hidden in your car, coin jar or other nooks and crannies and cash them in before it’s too late.

All coin handling equipment, such as vending machines, car park ticket machines, leisure centre lockers, supermarket trolleys and self-service checkouts, should now accept the new £1 coins. http://www.telegraph.co.uk/money/consumer-affairs/does-old-1-coin-go-circulation/