"Days numbered" for old pound coins

By Bob Huggins

Northern Ireland now has more of the new 12-sided one pound coins in circulation than the old circular pounds.

The news comes as the public are encouraged to return their old pound coins which cease to be legal tender on October 15th.

The new version was introduced last March.

The Exchequer Secretary to the Treasury, Andrew Jones,visited a coin storage facility in Belfast where more than £350,000 worth of coins are processed and redistributed daily, to banks and businesses across Northern Ireland.

With  less than 100 days to go, the clock is ticking.

"We are urging the public to spend, bank or donate their old pound coins and asking businesses who are yet to do so, to update their systems before the old coin ceases to be legal tender"...said Mr. Jones

 "The Royal Mint is very proud to have delivered the new 12-sided £1 coin and ensuring a smooth transition is now our top priority.

"We hope our announcement about the changeover point in July will encourage those businesses who have not yet upgraded their equipment to do so ahead of the October 15 deadline."

The new 12-sided coin was brought in to tackle the rise of counterfeit coins, which cost businesses and the taxpayers across the UK millions of pounds every year.