News

Pound coin change deadline approaches

Thursday 12 October 2017

The round pound coin will no longer be considered legal tender within days.

Residents reminded of pound coin changes ahead of deadline

The coin is being fully replaced by the 12-sided version, with businesses no longer having to accept its circular predecessor.

Mayor of Mid and East Antrim, Councillor Paul Reid, said: “We have already updated our car park machines well ahead of the changes being enforced.

“These machines will cease to accept the old pound coins from Sunday night.

“We also made some alterations to our lockers at leisure facilities and all work will be completed before the deadline.”

As of midnight on Sunday, the round pound will lose its legal tender status.

This means stores cannot hand out old pound coins as change and businesses can refuse to accept them as payment.

Members of the public have been advised they can trade in the coins at banks, building societies and post offices after the deadline.

The Royal Mint introduced the new £1 coin in March in a bid to crack down on counterfeiting.

It is estimated that one in 30 of the old version are fake.

More than 1.2 billion of the old coins have been returned so far, but an estimated 500 million are said to be still in circulation.