New pound coin: Firms in Gedling borough told to prepare for arrival next month

 New pound coin: Firms in Gedling borough told to prepare for arrival next month

SECURE: The new £1 coin that enters circulation next month.

Businesses in Gedling borough are being urged to prepare themselves for the launch of the new pound coin – which enters circulation next month.

The 12-sided £1 coin – which is claimed to be “the most secure of its kind in the world” – finally comes into circulation on March 28.

The redesigned coin will combat counterfeiters who have around 45 million counterfeit £1 coins currently in circulation by featuring a hologram-like image that changes from a £ symbol to the number one when the coin is seen from different angles.

Businesses have also been urged to prepare for its introduction.

New-Pound-Coin
SECURE: The new £1 coin that enters circulation next month.

Cash-handling firms and those that operate vending machines have been directed to a website – thenewpoundcoin.com – to help guide them through the transition as part of a campaign before the Royal Mint and the Government take the circular 30-year-old pound coin out of circulation.

You have until October 15 to spend any old £1 coins.

Upgrades to machines that accept the pound coin around the borough is expected to cost thousands.

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