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

[Temporaryname137]

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.

gillybeanz what do you predict will happen to interest rates, and when?

Silk

Just about to start a thread, as to not derail this one.

This has been reported quite widely in the last year, I'm surprised so many were unaware.

The current pound coin will no longer be accepted from September 2017.

I read the news all day, so I have no idea how I missed it! Anyway, glad the thread has brought it to the attention of some others who didn't know.

The dual circulation period is going to be a pain in the arse for parking meters etc.

Didn't know this so thank you for the heads up

Anyone else old enough to think the new coin looks like a 'thrupny bit'?
Probably worth about that the ways things are going

Ooh, looks like I need to do some rounding up & get a trip to the UK organised!

Wonder for how much longer after Sept you can take them into banks?

It reminds me of the old "Thruppenny bit"!

I don't mind them changing coins and notes etc so long as Mark Carney brings the new ones round in person.

I knew this already

I thought it was common knowledge

Surprised it's not

I had absolutely no idea about this and also have a money box that will need smashing open ( and is nowhere near full!)

I only know because my local Sainsbury's have changed their trolley coin thing (don't know what its called) to accommodate the new shape of coin.

I frequently check the news sites through the day and the first I heard about this was when I saw a post on Facebook yesterday.
I did know about the new notes though.

It's designed was 'inspired' by the thruppenny bit according to the video I just watched about it!

I like the design with all four plants representing England, Wales, Scotland and NI. At first I was sceptical incase Scotland leave the UK, but actually it would be a nice piece of history for when Scotland was a part of us.

(I didn't know about either, so thank you OP)

By the time it actually hits the high street, everyone will know about it, I expect.

A new one does need to be issued, and it isn't a waste of money- the amount of counterfeits in circulation is phenomenal, simply phenomenal. New one looks very complex. Also, very reminiscent of the good old days of yore. The population hates currency change and perhaps that little nod to pre-decimalisation will make it easier to bear for the pre-1971 crowd.

There's a lot of useful info here www.thenewpoundcoin.com/. Including a FAQ, details about the period when both coins will be in circulation and when shops and businesses will stop accepting the old coin - that's Autumn 2017. But you'll still be able to pay old coins in at post offices and banks after that; no one will have to chuck away a pot full of old coins, they'll still be worth the same as before!

From the FAQ on the website:

The current £1 coin is being replaced for the first time in over thirty years because it has become vulnerable to sophisticated counterfeiters. Approximately one in thirty £1 coins in circulation today is a counterfeit. We are introducing a new, highly secure coin to reduce the costs of counterfeits to businesses and the taxpayer.

HM Treasury, with the support of The Royal Mint, identified and engaged stakeholders that would be affected by the introduction of the new £1 coin. HM Treasury launched a ten-week public consultation on 12 September 2014. www.gov.uk/government/uploads/system/uploads/attachment_data/file/413929/PU1775_cover___prelims__FINAL_.pdf

You don't know about this because it's not happening until March 2017!

Thanks for this OP - I'll hand out any I have left to nieces and nephews when we're next over in the UK visiting. No point keeping them if they're going out of circulation.

But if i get my hands on one early in the first week.... will my new £1 coin be worth more.... just like the new £5 notes.....

I didn't know about this, thanks OP

We hate change!!

(As in, moves to new things, not coins!)

We have a terrimundi that was half full with pound coins until a few weeks ago when I had to drill a hole in the bottom and raid it for an emergency (I couldn't face smashing it)
Which defeats the whole point of the pot!! and Gaffa-taped the base back up to start refilling.

I had no idea about the new coin,

trolley coins will be defunct as well now

And trolleys will need replacing, parking meters, fruit machines, those rides outside supermarkets, vending machines

This has been reported quite widely in the last year, I'm surprised so many were unaware.

At least as long ago as March 2015!

www.mirror.co.uk/news/uk-news/new-1-coin-teenagers-drawing-5353975