Belfast Telegraph

Five days until old £1 coin deadline kicks in, but some places will still take coins

Retailers have been warned that they have just five days until old pound coins are no longer legal tender.

The old 'round pound' is being replaced by the new 12-sided coin, a move that is being taken to cut down on the number of fake coins in circulation - with the new design much harder to replicate.

Speaking ahead of the deadline, which falls at the end of this week, independent retailer representative body Retail NI's Glyn Roberts urged retailers to take the October 15 deadline seriously.

"This deadline is going to be a challenge given that multiple retailers have decided to be more flexible and continue to accept the old £1 coin from shoppers after 15th October,” he said.

“Retail NI’s advice is clear to retailers and is in line with what the Royal Mint is advising. Retailers are under no obligation to accept the round £1 coin from customers and should not distribute the round £1 coin after October 15.”

“All round £1 coins should have been banked. However, the round £1 coin can continue to be deposited into a customer’s account at most high street banks and the Post Office.”

It was also warned that continuing to accept the old £1 coins leaves businesses at risk of accepting counterfeits.

The Royal Mint has advised all businesses should have changed their machines and coin-handling equipment by the end of the week so that they are able to accept the new £1 coins.

Despite the 12-sided coins being introduced in March to facilitate the phasing out of the old coins, some retailers have said they will continue to accept the coins.

Supermarket giant Tesco has said that it will continue to accept the round pounds after they are no longer legal tender, extending this policy out by a further week.

Retailer Poundland has also said that it will continue to accept the coins up until the end of the month.

Belfast Telegraph Digital


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