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Race on to spend old £1 coins as deadline looms | Race on to spend old £1 coins as deadline looms |
(about 13 hours later) | |
The old round £1 coin is now officially withdrawn, but shoppers will still be able to spend them in some shops. | |
With up to 450 million estimated to be still in the public's hands, many retailers have said they will continue to accept them for a limited period. | |
Businesses can refuse to take them from Monday when they will no longer be legal tender. | Businesses can refuse to take them from Monday when they will no longer be legal tender. |
The round coin, launched in April 1983, is replaced by the new 12-sided coin that entered circulation in March. | The round coin, launched in April 1983, is replaced by the new 12-sided coin that entered circulation in March. |
Some supermarkets and other stores said they would give shoppers some grace. | Some supermarkets and other stores said they would give shoppers some grace. |
The Entertainer toyshop chain, which said it would continue to accept round £1 coins until Christmas. | The Entertainer toyshop chain, which said it would continue to accept round £1 coins until Christmas. |
Iceland and Poundland have said they will continue to accept the old round pound until 31 October, while Tesco has said it will continue accepting the old-style coins for a week after the 15 October deadline. | Iceland and Poundland have said they will continue to accept the old round pound until 31 October, while Tesco has said it will continue accepting the old-style coins for a week after the 15 October deadline. |
Coins down the back of the sofa? | Coins down the back of the sofa? |
With the deadline to use the old £1 coin just days away, here are some of the places to look for them: | With the deadline to use the old £1 coin just days away, here are some of the places to look for them: |
10 places to find your old £1 coins | 10 places to find your old £1 coins |
Some shoppers have been angered that shops have continued to give round pounds as change in the run-up to the deadline. | Some shoppers have been angered that shops have continued to give round pounds as change in the run-up to the deadline. |
Consumers and businesses can still bank these coins beyond Sunday night's deadline. | Consumers and businesses can still bank these coins beyond Sunday night's deadline. |
Martin Kearsley, banking services director at the Post Office, said: "Thanks to an agreement with all UK High Street banks, everyone can deposit old pound coins into their usual High Street bank account at their local Post Office branch." | Martin Kearsley, banking services director at the Post Office, said: "Thanks to an agreement with all UK High Street banks, everyone can deposit old pound coins into their usual High Street bank account at their local Post Office branch." |
Some other payment services might not be ready for the deadline. | Some other payment services might not be ready for the deadline. |
The British Parking Association has said it is confident that the majority of parking machines are ready or will be ready to accept the new £1 coin, but the Automatic Vending Association said it believed all machines owned by its members were now accepting the new coin. | The British Parking Association has said it is confident that the majority of parking machines are ready or will be ready to accept the new £1 coin, but the Automatic Vending Association said it believed all machines owned by its members were now accepting the new coin. |
The Royal Mint has produced more than two billion round pound coins since its launch. | The Royal Mint has produced more than two billion round pound coins since its launch. |
The new £1 coin: Vital statistics | The new £1 coin: Vital statistics |
Thickness: 2.8mm - thinner than old coin | Thickness: 2.8mm - thinner than old coin |
Weight: 8.75g - lighter than old coin | Weight: 8.75g - lighter than old coin |
Diameter: 23.43mm - larger than old coin | Diameter: 23.43mm - larger than old coin |
Number to enter circulation: 1.5 billion - about 23 per person. Old £1 coins will be melted down to make new ones | Number to enter circulation: 1.5 billion - about 23 per person. Old £1 coins will be melted down to make new ones |
Outer ring: gold-coloured, made from nickel-brass | Outer ring: gold-coloured, made from nickel-brass |
Inner ring: silver-coloured, made from nickel-plated alloy | Inner ring: silver-coloured, made from nickel-plated alloy |