New £12-sided £1 coin comes into circulation

New £12-sided £1 coin comes into circulation

New £12-sided £1 coin comes into circulation

It might take a few days or weeks for people to start seeing the new coins in their change as they gradually filter into general use.

The coin was introduced at a limited number of locations around the United Kingdom on Monday (March 27) and it was expected to be several days before the design made its way to Nottingham banks in significant numbers.

People have been urged to return their old round pounds before they eventually lose their legal tender status.

This "co-circulation" period will cease in Autumn 2017, after which retailers will only accept the newly-minted coins, although old coins will be able to be deposited in banks and post offices.

But consumers craving a snack or trying to park may face confusion when they attempt to pay at vending and ticket machines, as some do not now accept the new coin.

Peterborough City Council has said changes to auto parking payment machines in the city are underway, but not all machines have been upgraded yet.

Every supermarket trolley at Tesco - estimated to number hundreds of thousands - are to be unlocked after the grocery giant revealed it has not converted them all in time for the launch of the 12-sided £1 coin on Tuesday.

A new edition of the all-time favorite and best-seller coin series, the iconic 1 oz.

This includes a hidden high security feature built into the coin as well as micro-sized lettering inside both rims.

The new 12-sided £1 coin - hitting pockets, purses and tills today - has a hidden security feature, created to lessen the effect that counterfeit coins can have on the British economy.

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Visitors to the Skegness coast can expect to use the new £1 coin at arcades and the majority of vehicle parks. The coin is bimetallic, with the outer ring being nickel-brass and gold in color, while the inner silver ring is nickel-plated alloy.

They're said to be the most secure coins in the world.

Will I still be able to use the old £1 coin?

Since then, people have stashed them away in piggy banks, rolls of coins and in jam jars.

Last month, we revealed how these coins were changing hands for around £200 on the auction website. Towards the back end of a year ago, we were able to get sample coins to start the reprogramming process.

KitKat chaos also looms, with 15% of Britain's 500,000 vending machines unable to accept the new coin, despite the industry spending £32m to upgrade them.

While the new coin is roughly the same diameter as the current coin, its shape, weight and thickness are different - all features that affect the extent of the upgrade required for coin-operated equipment such as lockers, parking meters and vending machines.

The new coin will start circulation from 28th March 2017 and will initially coexist with the old pound.

The standard reeded edge returned to this year's edition, which launched on Thursday, March 23, for $53.95.

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