New £1 coin rollout could push up parking charges, experts warn

16 Oct

Mr Daley added: “The old coin was incredibly easy to forge so that was costing money as well so the Royal Mint did not do a very good job and now here we are.

“Businesses are going to struggle and I think the government should be sympathetic and provide some support.”

An estimated 500 million of the old coins remain in circulation.

While many retailers will no longer accept them, including Sainsbury’s, M&S and Lidl, several others, such as Tesco, Aldi, Iceland and Poundland, will continue to take them for a period of between one and two weeks.

The round coins can also be taken to any high street bank or Post Office to be paid into a UK bank account until further notice.

One pound coins were first launched on April 21 1983 to replace £1 notes.

The new, 12-sided pound coin, which resembles the old threepenny bit, was introduced to reduce the multi million-pound cost to British business from counterfeits.

No comments yet

Leave a Reply