he New 12-sided, bi metal one pound coin came into circulation on the 28th March 2017 as part of efforts to cut back on counterfeits. The old pound, which has been in circulation since 1983, is one of the most counterfeited coins in the world – one in 30 is fake says the Mint. The time has come for an era for the old pound coin. From Monday 16 October the old pound coins are officially out of circulation.
It is believed that between 400 and 450 million old round coins are still hanging around in wallets, pockets, piggy banks and down the back of sofas across the country. Thankfully, there are still places you can spend them and all that ‘saving’ (or forgetting that they existed) will have not been for nothing.
Here is a list of the following places that the old one pound coins will still be accepted:
Poundland will still accept the old pound coins till the end of October.
‘We are the official home of the pound, so it’s a no brainier that we offer all Brits the opportunity to spend their hard earned round pounds for longer’ - Managing Director Barry Williams
Another upmarket establishment with ‘land’ in the name, Iceland still wants your old, rejected pounds. They will also accept them until the end of October, so it may be the ideal time to stock up on frozen pizza.
Let’s say you want to use this opportunity to do something good for the world, rather than go to the hassle of changing them at the bank for the price of coffee. Lots of charities are urging people to donate their old pound coins and some have even launched special campaigns.
The Royal British Legion is running the #poppypound campaign, making old pound coins available for donation until Remembrance Sunday on 12th November.
The old coins can be taken to Legion branches in Plymouth, Southampton, Brighton, Swindon, Bristol, London, Colchester, Cardiff, Aylesbury, Derby, Birmingham, Belfast, Merseyside, Manchester, Leeds and Newcastle, and they are accepted by Poppy sellers, who will be taking donations on the streets.
Clair Rowcliffe, director of fundraising at the Legion, says the charity will be ‘delighted to turn your out-of-date pounds into poppies’.
Epilepsy Action asks people to ‘give your last pound to fight epilepsy’ to their Pound for Pound Initiative.
Poverty Child will send out Freepost Envelopes for people to post their pounds.
BBC Children in Need want people to give as many as possible to their Round Pound Countdown before their big appeal day on November 17 to help disadvantaged children and young people across the UK.
Wildlife Charity Born Free is asking people to donate their pounds after the £1 coins go extinct!
Diabetes Research & Wellness Foundation used its website, email and social media channels to promote their one pound coin appeal, and set up a JustGiving page for those who wanted to donate one pound online.
Clare Levy, said: ‘As a result of the campaign, we have received positive reactions from the public and raised almost £100 already! We would advise other charities to make it as easy as possible for people to donate, which encourages people to do so’.
The Rainbow Trust Children’s Charity is also asking people we need your good old pound coins.
Take your pounds to the bank
You can change them for new pound coins at most banks and building societies, including NatWest, Santander, Barclays, Halifax and HSBC. Some branches may only offer the service to people who have an account with them. If you have any trouble swapping the pounds, you will still be able to deposit them in your bank account at the counter.
Good News for pastry lovers – the high street bakery have confirmed that they will keep accepting the round pounds, but haven’t revealed their own cut-off date.
The toy shop has said that the one pound coins will be accepted in their stores until the end of the year. In a statement, Treasury minister Andrew Jones warned businesses to be ‘Vigilant’ during the switchover process.
You have until the end of October to fill your boots in Aldi
While some other shops opted to give people until the end of the month, Tesco is offering an extra week. Better than nothing, or – as the supermarket would say – every little helps. You have got until October 22.
You can also the old pound coins to The Post Office after the deadline and deposit them in any bank until further notice.
Unfortunately you can’t swap them for shiny new ones.
‘We would like to reassure anyone who is unclear on what to do with their old one pound coins that The Post Office is here for you. Thanks to an agreement with all UK high street banks, everyone can deposit old pound coins into their usual high street bank account at their local Post Office branch.’ - Martin Kearsley, Banking Services Director at The Post Office
The Post Office has also teamed up with Children in Need, so if you want you can also donate your old pounds at there as well.