Aldi to accept old £1 coin for two weeks after deadline

Aldi to accept old £1 coin for two weeks after deadline

Aldi to accept old £1 coin for two weeks after deadline

Bids for a five pound note is now on eBay for over 22,000 with just hours remaining.

The Treasury is urging customers to spend their coins.

If you do not want to risk being caught out though, bear in mind that shops are not obliged to accept your old round pound after October 15, so it would be wise to offload your old coins by banking, spending or giving them to charity before then.

A trade association representing small shops has advised its members to continue accepting the round coins to provide a "useful community service" to customers.

The new 12-sided £1 coin became legal tender on 28 March 2017 and now with one billion coins having passed through the Royal Mint production line, it's time to say farewell to its predecessor.

From July 24 a new "pay on foot" system has been in place at Wrexham's People's Market, with machines accepting both cash and card as well as the new £1 coins.

However, some retailers have faced criticism over the change to the new 12-sided pound coins.

Prior to the introduction of the coin, which includes new high-tech security features to prevent counterfeiting, one in 30-pound coins we fake. These coins and notes are worth up to £37,000!

Retailer Poundland has also said that it will continue to accept the coins up until the end of the month. The Royal Mint has produced more than two billion round pound coins since that time.

"Thanks to an agreement with all United Kingdom high street banks, everyone can deposit old pound coins into their usual high street bank account at their local Post Office branch while visiting us to pay bills, pick up online shopping, collect foreign currency, withdraw cash, deposit cheques or any of the many other reasons to pop in".

Supermarket giant Tesco has said that it will continue to accept the round pounds after they are no longer legal tender, extending this policy out by a further week.

It may seem like all hope is lost for the round pounds, but don't despair just yet, your options will not be exhausted come the October 15 deadline.

When does the round £1 coin cease to be legal tender?

RBS/NatWest said it would encourage customers to try to hand in their old coins as soon as possible.

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