Saturday, June 25News That Matters
Shadow

Tag: &#1631

Deadline looms for you to spend old £1 coins

Deadline looms for you to spend old £1 coins

Business
They have been in circulation for the past 34 years and more than 1.6 billion of them have been minted, but from midnight they will cease to be legal tender.However, people should not panic if they miss the 15 October deadline as major banks and building societies and some big stores are giving them extra time to use them.The new 12-sided pound coin went into circulation in March and has new high-tech security features designed to thwart counterfeiters.Image:The new 12-sided pound coin went into circulation in MarchOf the big supermarkets, Sainsbury's has already made the switch to the new coins, both at the till and with its trolleys, while Tesco says it will accept the old coins, but for a further week only.As for small businesses, the advice to them is to be prudent and understanding.Al...
New £1 coin hits one billion landmark

New £1 coin hits one billion landmark

Business
The billionth new £1 coin has rolled off the Royal Mint's production line, as shoppers and retailers prepare to bid farewell to the 'round pound'.The new 12-sided pound coin entered circulation in March and boasts high-tech security features to combat counterfeiting.Around one in every 30 £1 coins in people's change in recent years has been fake.Exchequer Secretary to the Treasury Andrew Jones, who is visiting the Royal Mint's headquarters in Wales to mark the one billion milestone, said: "This coin is the most secure of its kind in the world and was brought in to clamp down on the multimillion-pound cost of counterfeits."Video:New £1 coin is most secure ever: MintMeanwhile, people are being urged to spend, bank or donate their 'round pounds' to charity before they lose their legal tender ...