OLD pound coins will no longer be legal tender as of Sunday, 15th October, which is only six days away.
Though this is the case, Poundland and a select number of other traders will continue to accept the coins for a while longer – in Poundland’s case, until the end of the month.
Poundland managers and staff found out only just this morning that over 850 of their stores will be ignoring the Royal Mint’s deadline, to make shopping there more convenient for the public.
When Quays News approached them, a local Poundland manager could not comment on the news that she had only been notified about by her bosses this morning.
The manager of a Salford-based Post Office, however, said that he will too continue to accept the old pound coins after Sunday.
The old pound coin will cease legal tender next weekend, although some places will still accept it. Do you have old pound coins still?
— Life/Political Polls (@jurygroup) October 9, 2017
The 35-year-old says: “We’ve been told since the beginning of September not to give out the coins, and we can return them.
“As the Post Office, we are allowed to take the old pound coins after the deadline, if you are banking or if you are paying for some goods, we are not allowed to say “no, you can’t pay for it”.”
There are also many market stallholders that will continue to accept the old pound coins after the 15th October.
The owner of well-established Mal’s Schoolwear, in Salford Shopping Centre, says: “As a retailer, we need to be aware of this however, after Sunday, we’re still willing to take the old pound coins, because the banks are fairly reasonable.
“I would expect them to accept the old pound coins after the 15th, for a couple of weeks, I would imagine, at least.”
He adds: “There must be many, many millions of pound coins out there still, so it just gives people a little bit more time to hand them in”.
A fellow market stall-holder, who sells fruit and veg around Manchester, has a different view on the pound coin change over.
She says: “We only have a few of the old pound coins a day, and the bank’s already said that I can pay them into my business account after the 15th.
“I think it’s down to the individual, I just won’t take them after that date.”
Don’t forget to spend your old pound coins! The ’round pound’ ceases to be legal tender on October 15 pic.twitter.com/uz4nNGBPor
— ITV News (@itvnews) October 3, 2017
The new pound coin was first released earlier this year in March, and since then, people have been made aware that as of October, the old pound coins will not be legal tender.
This time has now come, but managers are being told that their companies should ignore the deadline, and still accept the old coins, to give the general public more chance to spend them.
Old pound coins were first issued in April 1983 – almost 35 years ago – and even now, it seems that UK retailers are not ready to wave goodbye to them.