Your Old £1 Coins Will Stop Being Legal Tender Next Week
Our wallets have had a serious makeover in 2017, but for those traditionalists who don’t like change (ahem) look away now!
Your old one pound coins are going to become obsolete next week and will be withdrawn from circulation, as the twelve-sided n00bs take over purses and pockets across the nation.
However, you might not want to start panic buying crap you don’t need in a last ditch attempt to rid yourself of the old coins just yet.
Two of the UK’s biggest supermarkets, Sainsbury’s and Tesco, as well as some rail companies, have admitted they are unprepared for the change to the new 12-sided £1 coin.
It’s been six months since the 12-sider was brought into circulation and became legally useable, quickly followed by some new faces on our notes, including Jane Austen.
The clock on the revamp is ticking now, as the old pounds will cease to be legal tender on October 15 – but there are still £400 million in circulation.
The switch-over process is, ironically, costly and takes a little time – so some vending machines, train ticket machines, shopping trolleys and thousands of parking meters are yet to see the latest model.
A number of ticket machines operated by Govia Thameslink Railway, which is in charge of Southern, Great Northern, Gatwick Express and Thameslink, are not ready for the change.
Transport for London also said some ticket machines will not accept the 12-sided coin until the end of the year.
Alternatively, those stuck with leftover round coins can head to their bank, building society or Post Office branch to trade them in for new ones.
Another reason for keeping your outdated cash is that some variations of the round pound are expected to rocket in value when their status changes next Sunday.
The Cardiff City £1 coin has a mintage of just 1,615,000 and they could soon by worth around £15 each.
Okay, that interest has me interested. Let the hoarding of old pound coins begin!
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