Old £1 coin deadline looming in one week - Ashdale Business Consulting

Old £1 coin deadline looming in one week

 

People have just one week remaining to spend their old £1 coins before businesses can refuse to accept them.

From 16 October, the round £1 coin will no longer be legal tender, having been replaced by a new 12-sided version earlier this year.

It will still be possible to deposit the old coins at most high street banks and the Post Office after that date.

About 1.2 billion coins have so far been returned, but an estimated 500 million are still in circulation.

Adam Lawrence, chief executive of the Royal Mint, said: “As the deadline approaches, we are keen to encourage everyone to track down their final coins and use them.”

Click here to read more ((Source: BBC News)