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What to do with your old pound coins if you still have them after Sunday’s legal tender deadline

Only the new £1 coin will be legal tender after Sunday (Darrell Benns / DC Thomson)
Only the new £1 coin will be legal tender after Sunday (Darrell Benns / DC Thomson)

FROM midnight this Sunday, the old round pound coin ceases to be legal tender.

This means you’ve got less than a week to find something to do with any you still have lying around.

But what can you do with any you still have after the October 15 deadline?

Here are a few ideas….


Still spend them

Thousands of shops are set to ignore the deadline and continue to accept the old coins, according to The Telegraph.

The new rules will force shops to stop handing out the coin as change and gives them the right to refuse them as payment.

However, this doesn’t mean they can’t allow customers to pay with them.

A Tesco spokesperson said: “We’ve been updating our systems ready for the new pound coins, but to help customers who still have the old coins, we’ll continue to accept round pounds at our tills and self-service machines for an additional week.”

A trade association representing around 170,000 small shops across the UK has also advised members to continue accepting the round coins.

Poundland say they will also continue to accept them until October 31.

Poundland have extended the deadline to October 31 (John Nguyen/PA Wire)

 

Deposit into your bank account

Banks will continue to accept the coins in deposits until further notices, as will the Post Office.

The Post Office will not, however, be able to swap old coins for new versions.

 

Keep one for shopping trolleys

Some supermarkets have yet to update their trolleys to take the new coin, so it may be worth keeping an old one handy for a few weeks.

 

Donate to charities

Several charities will be collecting the coins to raise funds. This includes Pudsey’s Round Pound Countdown for BBC Children in Need.

From October 5 to November 17, customers will be able to donate their round £1 coins at over 3,000 Post Office branches across the country.

For more information on other appeals, visit Fundraising.co.uk

Looking for something to do with your old round pound coins? Children in Need appeal could be the answer

 

New quid on the block: All you need to know about the new pound coin