Published: Wed, October 11, 2017
Medicine | By Earnest Bishop

We will still accept the old round pound coins, says Wolverhampton shopkeeper

We will still accept the old round pound coins, says Wolverhampton shopkeeper

The process of replacing the coins - which have been in circulation for 33 years - began in March with the release of of the 12-sided version.

The old coins may stop being legal tender at midnight on Sunday, but they can still be traded in for new ones at the Post Office or your bank's local branch.

The new pound coin has also been hailed as the most secure in the world, on their website, The Royal Mint said: "Its distinctive shape makes it instantly recognisable, even by touch".

But many institutions across the country may still accept payments with the old coin after the cutoff date, although they will no longer be able to use it when giving change to customers.

Retailer Poundland has also said that it will continue to accept the coins up until the end of the month.

A spokesman for the Federation of Small Businesses told the Telegraph: "Shopkeepers will be aware that the Royal Mint has this deadline but at the same time they will not want to let their loyal customers down by saying they can not pay with a round pound if they do not have any other change".

Willenhall-based discount retailer Poundland has said more than 850 of its stores across the country will continue accepting the coins until October 31.

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Authorities have therefore intensified efforts to encourage people either to spend their old coins or change them at the bank.

The UK's largest retailer, Tesco, said earlier this week that it would allow its shoppers to pay with the round pound coins at tills and self-service machines for an extra week in apparent defiance of the 15 October deadline the Royal Mint has imposed.

Security features on the new coin include 12 sides, a bi-metallic composition, a holograph and tiny lettering called microtext around part of the design.

"All round £1 coins should have been banked".

The Treasury and The Royal Mint have urged families to hunt down any remaining coins and spend, bank or donate them to charity.

The 12-sided £1 coin has all new dimensions, it is thinner than the old coin and measures just 2.8mm in thickness.

And bakery favourite Greggs will also accept the coins and have not yet decided when they will stop accepting the round pound.

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