The Student Room Group

Current pound coins will cease to be legal tender in October.

Only just read about this, but apparently it was announced about three years ago. A new, 12 sided coin is going to be gradually introduced fairly soon, and by October this year the current ones will be completely obsolete and no longer legal tender. So folks, if you have thousands of pound coins stashed away somewhere [like you do, LOL] it might be a good idea to start getting them changed over once the new ones become available.
Reply 1
Avatar for Drewski
Drewski
19
It's been news for a while.

New £1 coin is two colours, like the £2, and designed to stop counterfeits.

It's coming out in the next month or so.
Original post by markova21
Only just read about this, but apparently it was announced about three years ago. A new, 12 sided coin is going to be gradually introduced fairly soon, and by October this year the current ones will be completely obsolete and no longer legal tender. So folks, if you have thousands of pound coins stashed away somewhere [like you do, LOL] it might be a good idea to start getting them changed over once the new ones become available.


Yes, more information is available here:

http://www.thenewpoundcoin.com/#affect

Just to clarify that the old round £1 coins will be deomonetised after 16 October 2017, but banks will still allow deposits of these coins for some time after this, so they won't be entirely obsolete. :smile:
Reply 3
Avatar for 3121
3121
21
I got my hands on an official prototype, theyre so cool! I think they'll run an exchange program for years to come.. the amount of pound coins in circulation will take ages to be replace since producing the same amount of the current amount will take years especially since it has a more complex design. It's gonna take ages to get used to it
Apparently this was announced in 2014 - how did we miss this? :confused:
I'm looking forward to the new coin. We can go back to seeing who can create the tallest pile of coins stacked on their edges, just as we did with the old threepenny bit.
Original post by Good bloke
I'm looking forward to the new coin. We can go back to seeing who can create the tallest pile of coins stacked on their edges, just as we did with the old threepenny bit.


What a thrill!
Reply 7
Avatar for markova21
markova21
OP
21
Original post by Reality Check
Yes, more information is available here:

http://www.thenewpoundcoin.com/#affect

Just to clarify that the old round £1 coins will be deomonetised after 16 October 2017, but banks will still allow deposits of these coins for some time after this, so they won't be entirely obsolete. :smile:


Thanks for the extra info, Reality.
Original post by zayn008
I got my hands on an official prototype, theyre so cool! I think they'll run an exchange program for years to come.. the amount of pound coins in circulation will take ages to be replace since producing the same amount of the current amount will take years especially since it has a more complex design. It's gonna take ages to get used to it


You didn't though, did you? You'd have to be very high up in a very limited number of businesses to even stand a chance of 'getting your hands on a prototype', as the Royal Mint states in its FAQs:

Screen Shot 2017-02-17 at 15.04.45.png

They don't dish them out to A level students.
(edited 7 years ago)
Original post by markova21
Thanks for the extra info, Reality.


As always, you're welcome :smile:
Reply 10
Avatar for Nadile
Nadile
13
Damn I completely forgot about this. Gonna keep a few old £1 coins though.
Original post by Mathemagicien
Username checks out.


Thanks :smile:
Original post by littlenorthernlass
What a thrill!


Try and stay calm: you can't get your hands on one until March.
Reply 13
Avatar for 3121
3121
21
Original post by Reality Check
You didn't though, did you? You'd have to be very high up in a very limited number of businesses to even stand a chance of 'getting your hands on a prototype', as the Royal Mint states in its FAQs:

Screen Shot 2017-02-17 at 15.04.45.png

They don't dish them out to A level students.


Didn't say it was mine, i just said I got my hands on which meant I got to get one in my hands. I already know about how hard it is to get once which is why I added "managed to"
It looks suspiciously like a euro. Is this some remainer plot? :hmmm:

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