The new one pound coins coming soon

  bumpkin 07:57 03 Feb 2017
Locked

I see we are to get a new £1 coin in March. It is shaped a bit like the old trupenny bit. The idea is to prevent forgery which has become widespread so it would seem a reasonable thing to do.

I wonder however what is the cost/practiclity of converting every coin operated device in the UK. Vending macines, amusement/gaming mcs, parking meters, ticket mcs as examples even maybe supermarket trolleys. Any one like to comment or add to the list.

  Forum Editor 08:16 03 Feb 2017

Vending machines use various methods to detect which coins are inserted, including weight, colour and shape. Light detectors are used to tell the machine about the coins, and the introduction of a new coin would presumably just involve updating the detector's ROM chip - not a big deal.

As for parking meters - in London they are becoming a rarity. Most local authorities are introducing pay by phone parking systems. The meters that do exist are, again, smart meters so they aren't a problem - easy to update them to recognise new coins.

  bumpkin 09:06 03 Feb 2017

* Light detectors are used to tell the machine about the coins, and the introduction of a new coin would presumably just involve updating the detector's ROM chip - not a big deal.*

Thanks, that is interesting and not something I was aware of but it makes a lot of sense.

  morddwyd 09:13 03 Feb 2017

What about all those people who have those coin sized tokens for unlocking supermarket trolleys?

The cost of conversion as it will be borne (ultimately) by the consumer. The cost to the economy of the vast amount of counterfeit £1 coins circulating, some estimates are as nigh as 3%, is much greater. That is why the old coins will cease to be legal tender so quickly (in coinage terms).

  Quickbeam 12:17 03 Feb 2017

I believe that they will fit the same maximum circle as the old ones and the supermarket trolley coin slot isn't high tech.

  bumpkin 12:33 03 Feb 2017

* supermarket trolley coin slot isn't high tech.*

Neither is the rest of the things, can't even be pushed in a straight line.

  Cymro. 13:12 03 Feb 2017

The vending machine industry in the UK is I imagine a multi million pound one and so I would hope can well afford to absorb such costs itself. Mind you I bet a good part of such costs will eventually be passed on to the consumer.

  bumpkin 13:36 03 Feb 2017

The costs will inevitably be passed to the consumer in one way or another though I would expect them to be minimal (if even noticeable). I was thinking more of the practical side of things. From an earlier explanation by FE it would seem to be not too difficult but could it be carried out by those that attend these machines on a regular basis to fill, clean etc or would it require an engineers visit to every one.

  Aitchbee 13:53 03 Feb 2017

High tech supermarket trolleys have been around for years.

click here

  bumpkin 15:18 03 Feb 2017

The wheels normally lock anyway while you are trying to navigate the shop.

  morddwyd 19:32 03 Feb 2017

As a matter of interest, several local supermarkets have stopped using coin release security on trolleys.

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