Borough residents reminded about old £1 coin deadline

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Stock old pound coin

People in Gedling borough are being reminded they have just three weeks left to spend their old £1 coins.

The deadline for using the round pounds is October 15, after this date they will no longer be legal tender.

So if you have a savings jar full of the old coins, you’d better get spending!

But don’t painic just yet: if you still have £1 coins lying about after the deadline they can still be deposited into a customer account at most High Street banks in the borough.

The new 12-sided pound coin entered circulation in March and boasts new high-tech security features to thwart counterfeiters.

By mid-July there were more new coins in circulation than old, the Treasury said.

Self-service checkouts, ticket machines, lockers, vending machines and shopping trolleys are all currently being upgraded so they can accept the new 12-sided £1 coins.

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