When does the old pound coin expire?

By on October 16, 2017
When does the old pound coin expire?

When does the old pound coin expire?

Old £1 coins have officially been withdrawn from circulation today.

Following the introduction of the new 12-sided coin earlier this year the old round ones will no longer be taken in shops.

After that date you will no longer be able to pay with the round coin, which were first introduced in 1983 when they replaced the old £1 note.

However, for a limited period, banks and post offices will still allow customers to deposit old £1 coins into their bank account.

But some may only accept the coins bags of 20, instead of just the odd one or two, so it might be worth cracking open your piggy bank and having a rummage behind the back of the sofa.

Some 1.5 billion of the new coins are being produced at the Royal Mint in Llantrisant as around one in thirty of the old coins in circulation is a fake.

Of its 12-sided replacement Royal Mint chief executive, Adam Lawrence said: “It’s been designed to be fit for the future, using security features that aim to safeguard our currency, and currencies around the world, for years to come.

“Staying ahead of sophisticated counterfeiters remains a constant challenge and this coin helps in that battle.”

Before you cash in the old round quid on October 15, have a look and see if you have any of these in a jar at home;

The Scotland: Thistle and Bluebell £1. Issued in 2014, this coin from north of the border is considered “scarce”, with five million minted. It regularly fetches between £3.50 and £5 on eBay.

Northern Ireland: Flax and Shamrock. 5 million of the Flax and Shamrock representing Northern Ireland were minted and put into circulation in 2014. The design is by professional calligrapher Timothy Noad and could fetch between £3 and £5 on eBay.

Daffodil and Leek. Issued in 2013 it shows floral emblems of a leek and a daffodil to represent Wales. It was commissioned as part of the first floral series since 1984 and there were over 5 million made. It is thought that it could now fetch between £3 and £5 on eBay.

Rose and Oak Branch. Another 2013 coin, this time depicting a rose and oak branch, the emblem for England and it also could get up to £5 on ebay.

Belfast City. The Belfast City coin was minted in 2010 as part of the new £1 coin series focusing in the UK’s four capital cities. it too, could fetch upto £5 on eBay.

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