When does the old £1 coin expire? British shoppers have less than one month to their spend round pounds

The old round pound coins go out of circulation from October 16
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Hatty Collier23 September 2017

British shoppers have less than one month left to spend their old round £1 coins.

From October 16, the coins will no longer be accepted in shops, restaurants and other retailers.

The new 12-sided £1 coins were released at the end of march and are currently in a period of “co-circulation” with the old ones.

The Treasury and Royal Mint estimate that about 500 million round pounds are still out there.

The new 12-sided £1 coins
Ben Birchall/PA

After October 16, any unspent old £1 coins can be traded in at banks but this is only a temporary option.

The Royal Mint said: “We would encourage you to spend, bank or donate your round £1 coins before October 15.

“We have urged businesses and their frontline staff to, where possible, prioritise the new coin when giving customers their change.

“Customers are entitled to ask for their change in any way they wish, but until October 15, businesses can continue to give out the old coin.”

Vending machines, shopping trolleys, lockers, self-service checkouts and ticket machines should now have been upgraded so that they accept the new 12-sided £1 coins.

Rare £1 coin designs including the Edinburgh City 2011 and the 2011 Cardiff City £1 have previously sold on eBay for up to £35.

The new £1 coin, which has a gold-coloured outer ring and a silver-coloured inner ring, has been described as the most secure in the world and boasts high-tech features including a hologram.

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