Old £1 coins soon to expire

THE public are being encouraged to spend their round £1 coins by October 15 or face being out of pocket.

Wednesday, 20th September 2017, 1:00 am
Updated Wednesday, 27th September 2017, 11:34 am

The £1 coin has been replaced by the 12-sided version of the coin and as of October 15 the round version will lose its legal tender status.

Around 800 million old round coins have already been returned to the Treasury. These will be melted down and made into the new, 12-sided coin.

The public are advised to spend their old £1 coins now, put them into a bank account or donate them to a charitable cause.

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The new coin, which came into circulation in March, is similar to the old threepenny bit and its design was changed to tackle a security issue.

Criminals were able to create fake copies of the round pound coin but the new coin features should stop counterfeiters.