After 28th March…what happens next?

Once the new £1 coin has been released on 28th March, the UK enters what has been called the ‘co-circulation period’. For the next 6 months, both old and new £1 coins will be in circulation as legal tender, and can be spent freely in all shops and automated machines that have been correctly updated?

The old £1 coins will be gradually removed from circulation by the Bank of England, and these will cease to be valid as legal tender on 15th October 2017. This is the official date for the end of the co-circulation period, and only the new bi-metallic, 12-sided £1 coin will be valid from this date forward. The old £1 coin is demonetised from this date.

Need some more help or advice? Please give our Support Team a call on 01707-280050, or download our helpful ‘New £1 Upgrade Guide’