Yes you heard it right, now your old one pound coins are going to become discontinued next week (Old £1 Coins Will Not Be a Legal Tender) and will be withdrawn from circulation.
Two of the UK’s biggest supermarkets, Sainsbury’s and Tesco, as well as some rail companies, have admitted they were not prepared for the change to the new 12-sided £1 coin.
It’s been six month since the 12-sider was brought into circulation and became legally useable, quickly followed by some new faces on our notes, including Jane Austen.
The clock on the revamp is ticking now, as the old pounds will cease to be legal tender on October 15 – but there are still £400 million in circulation.
The switch-over process is, ironically, very costly and takes a little time – as some vending machines, train ticket machines, shopping trolleys and thousands of parking meters are yet to see the latest model.
Some trolleys at smaller stores, like Sainsbury’s Local and Tesco Express, are not yet updated to received the glorious new, edgy legal tender.
A number of ticket machines operated by Govia Thameslink Railway, which is in charge of Southern, Great Northern, Gatwick Express and Thameslink, are not still ready for the change.
Transport for London also said that some ticket machines will not accept the 12-sided coin until the end of the year.
Alternatively, those who have these round coins can head to their bank, building society or Post Office branch to trade them in for new ones.
Another reason for keeping your outdated cash is that some variations of the round pound are expected to rocket in value when their status changes next Sunday.
The Cardiff City £1 coin has a mintage of just 1,615,000 and they could soon by worth around £15 each.
This is how the new one looks like.