As we welcome the new £10 note in to circulation we need to remember that it isn’t the only new style currency to come in to play this year. The new 12 sided £1 coin started it’s circulation back in March and now it’s time to say goodbye.
Out With The Old
We weren’t sure if the new coin design would be a hit, I mean, there were doubts that it would fit into trolleys and what about the signage for the Poundshop? Although there were uncertainties, it seems like the 12 sided £1 coin has settled in nicely and, personally, I’ve barely noticed it’s existence anymore. It’s just a £1 coin.
So with that in mind, it’s now time to retire the old design. On October 15th 2017 the old pound coin is no longer legal tender. So what do you need to do?
Raid The Piggy Bank
Make sure you have a good old route around for any places that might have £1 coins stashed. Savings jars, piggy banks, jean pockets, under sofa cushions and in all the drawers. If you can then you’ll want to spend these before the 15th October.
After this date you’ll be able to pop to your bank or the post office and exchange them but you won’t be able to spend them.
Be warned! Some banks will only exchange pound coins if they’re bagged up in 20’s AND/OR you hold an account with them, same with the Post Office. So either get them spent or check ahead of time otherwise you’ll be left with coins you just can’t use.
So be sure to check everywhere, including any stashes that the children might have, so you don’t risk losing out on money for a simple mistake.