Pound not 'a round' for much longer

The Consumer Council is urging consumers to round up their old £1 coins and either spend, or exchange them at the bank or Post Office, before they become worthless next month.

The old round £1 coin will cease to be legal tender from the 15 October 2017 and will no longer be accepted in retail outlets. According to Royal Mint, an estimated one in 30 old £1 coins are fake, and the new 12-sided design makes it far harder to produce counterfeits.

Philippa McKeown Brown, Head of Consumer Empowerment and Protection at the Consumer Council, said; “It’s time to check the piggy-banks and money jars for £1 coins and to either spend them at the shops or exchange them at the bank or Post Office, because as of 15 October 2017 the current round £1 coins will cease to be legal tender and will no longer be accepted.”

For more information visit www.thenewpoundcoin.com