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To remind you all about the new pound coin that comes in next year

(61 Posts)
Temporaryname137 Thu 03-Nov-16 09:27:33

Because I was clueless about this, somehow, and I have been merrily posting my £1 coins into DD's terramundi pot (you know, the money boxes that you have to smash when they are full). By the time it's full enough to smash, the bloody things will have been out of circulation for about 5 years!

I thought DP was winding me up, but sadly the internet is well and truly with him on this one, so I just thought I'd flag it here in case anyone else has been doing something similar.

BastardGoDarkly Thu 03-Nov-16 09:33:59

Well they kept they quiet didn't they?!

Surely though, they let the old ones be used for ages?

BastardGoDarkly Thu 03-Nov-16 09:35:12

^ too many theys in there hmm

MumOnTheRunCatchingUp Thu 03-Nov-16 09:35:25

It's not been 'kept quiet'

The polymer £10 is also released next year. It's common enough knowledge

Have got stacks of leaflets at work full of plans to change currency. Info is all out there

BastardGoDarkly Thu 03-Nov-16 09:36:30

Ok, well I've heard nothing about it, better?

gaggiagirl Thu 03-Nov-16 09:36:52

Whaaaaaaaat?? I didn't know this. Thanks for flagging it up OP.

NorbertDentressangle Thu 03-Nov-16 09:39:42

Oh bloody hell! First I've heard of this as well (and DD has one of those money boxes too).

PippaPug Thu 03-Nov-16 09:39:50

When can you use the old pound coin till?

ComputerDog Thu 03-Nov-16 09:40:08

I didn't know anything about it either!

Maybe you should share out some of those leaflets, mum. Where do you work?

smEGGtoplasm Thu 03-Nov-16 09:41:12

Had no idea about this either confused

londonrach Thu 03-Nov-16 09:41:19

Saw it for the first time yesterday so do think theyve kept it quiet from the general public. Mumontherun those leaflets need to be out there so people know. Didnt know about the new £10 till now. Was in a charity shop yesterday and the volunteer was given a new £5 and questioned the guy if it was legal. Her manager popped down and said it was and had to explain about the new £5 so not everyone knows about them yet!!!

Bijouxxx Thu 03-Nov-16 09:42:11

I only found out because of a link on Facebook last night, it's going to be a pain as shops can change self-service/car park machines as and when they wish so it will be confusing as to which coins you use where.

londonrach Thu 03-Nov-16 09:42:21

PippaPug Thu 03-Nov-16 09:43:35

I had one of those Pots btw - I filled mine up with only £2 coins and notes and took approx 18 months (every time I got a £2 coin I didn't spend it)
So your pot may be smashed before the old £1 is not in circulation smile

RentANDBills Thu 03-Nov-16 09:48:27

Its good to see that money is being well spent by the government in developing new currency hmm

RentANDBills Thu 03-Nov-16 09:48:29

Its good to see that money is being well spent by the government in developing new currency hmm

AnnoyedByAlfieBear Thu 03-Nov-16 09:48:43

Just looked it up, and you'll be able to use the old ones til Autumn 2017 and even then you'll still be able to deposit them into the bank.

FlapsTie Thu 03-Nov-16 09:51:06

So all the supermarket trollies and parking meters will have to be replaced? What a fabulous use of money in a failing economy.

WordGetsAround Thu 03-Nov-16 09:53:06

Its good to see that money is being well spent by the government in developing new currency hmm

It's because the current pound coins are easily copied and a large proportion of them are fake.

It's the governments responsibility to look after our currency and this is a way to do that.

BarbaraofSeville Thu 03-Nov-16 09:56:53

Why the hmm Rent. Old fivers cost a lot because they didn't last very long so they had to keep replacing them - the new ones are much more durable and probably harder to forge. Current pound coins are very easy to forge and the new one won't be.

Changes in notes and coins are usually cost effective.

Changeover takes time so both types will be in circulation for a good period, and even after then, banks will exchange them for ever, effectively.

BewtySkoolDropowt Thu 03-Nov-16 10:02:41

I'm very surprised that people missed this when it was in the news a year ago. It has not been hidden at all.

TinyTear Thu 03-Nov-16 10:04:12

you will be able to take them to the bank...
My dad (abroad) came to the UK a few months ago and he still had from a very old stash some of the old £50 notes withdrawn in 2014 and £20 from 2010... he managed to swap them at the bank

gillybeanz Thu 03-Nov-16 10:08:49

Just make sure you take any spare to the bank and they will change them.
I think it's 4% inflation you need to worry about, and the increased interest rates as a result, not a change of coin.

ItShouldHaveBeenJess Thu 03-Nov-16 10:10:11

I don't like it! But then I generally hate change (crappest joke ever)

SilkThreads Thu 03-Nov-16 10:10:22

I was also completely unaware of this.
Are they to change the £2 coin too?
My children have a big collection of them as they like all the different 'reverse' sides. They have them in a special folder with polypocket dividers and all. It's taken them ages to build it up.

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