Old £1 coins not legal tender after 15th October
The Bank of England has introduced a new 12-sided, 2-coloured £1 coin to replace the old round £1 coin.
The bank says the new coins are the most secure coin in the world, making it much more difficult to counterfeit.
The old round £1 coins cease to be legal tender after 15th October.
Have a look around at home and seek out any old round £1 coins.
Spend them or get them paid in to your Post Office or Bank account.
Try and do this before 15th October so you are not stuck with old coins.
If you do get stuck with old round £1 coins, you can still pay them into most banks in the UK – but you don’t really want this hassle!
What else has the Bank of England got up its sleeve?
- New £10 notes – they will be here from 14th September
- New £20 note – expected to be introduced in 2019 or 2020