Withdrawal of the Old Pound Coin

  morddwyd 10:52 01 Apr 2017
Locked

I thought that when the new coin was introduced the old one would gradually be withdrawn, as has been the case in the past, but I find the old coin is still circulating freely.

I've now got to the stage where I am asking for them not to be given to me in change, even if they are still legal tender. It's easier for the shops to get rid of them than me!

The time for them to be withdrawn is quite short, compared with previous, similar, withdrawals, and if they go on circulating them yjere will be a lot left hanging about in October.

  Belatucadrus 11:30 01 Apr 2017

but I find the old coin is still circulating freely.

As the new one has only been in circulation for four days I can't say this is much of a surprise. In fact I have yet to see one of the new ones, comes of using plastic for most transactions I suppose.

  morddwyd 11:49 01 Apr 2017

But on previous occasions, like the orinal pound coin, updated cupro-nickel and so on, the new coins have been in e and general circulation from day one, and the old coind were not given out, even by the smaller retailers.

I too, have yet to see the new one, but still getting lots of the old ones given out in change, even by large, national, retailers.

  wee eddie 12:07 01 Apr 2017

I shall be using both old and new, in my Taxi, depending on availability. Any excess old £1 coins, at the end of my working week, will be banked via Tesco, as my bank charges me 80p for every £100 that I pay in or exchange.

  Aitchbee 12:13 01 Apr 2017

My local launderette uses about 20 X {£1 only} coin-operated washing machines and dryers for general public use.

So, instead of converting all of these machines to take the new pound coins, couldn't the owner of the establishment just keep a large stash/store of the old coins and thus overcome the need for any conversion?

  wee eddie 12:55 01 Apr 2017

HB, your answer is, yes they will, unless they're weird or someone offers to upgrade their machines for free

  bremner 13:01 01 Apr 2017

The Old coins are to be withdrawn by October so there is plenty of time.

  Fruit Bat /\0/\ 13:16 01 Apr 2017

Not seen any new ones yet

Got plenty of old ones in my change from the bars yesterday while out with "the lads"

  oresome 15:01 01 Apr 2017

It's at times like this that I'm glad I'm no longer in the vending business!

Counterfeit pound coins were a particular problem in vending though as they didn't have to look absolutely authentic and most mechanisms were set with fairly liberal tolerances to avoid rejecting too many genuine coins.

Many people don't see defrauding a machine as a crime.

  john bunyan 16:32 01 Apr 2017

My wife accumulated about £150 of £ coins. In our NatWest there is a coin machine that takes coinage and gives you a slip to take to the teller for notes or account credit.

  Quickbeam 18:12 01 Apr 2017

I got one yesterday after a week.

The hologram security feature is a waste of time as you need a magnifying glass to see it. So no-one will ever bother doing that check!

The vending machine operators get extra security features to stop fakes being used in them.

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