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Borough residents reminded about old £1 coin deadline

old_pound_Coin

Gedling

Borough residents reminded about old £1 coin deadline

The one pound coins expire next month, so you’d better get spending if you still have some lying about

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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