Confused by the coin chaos? Here’s where you’ll be able to spend your old £1 coins after October 15
UNLESS you've been living under a rock, then you'll know that from October 16 you'll no longer be able to pay for your shopping with the old round £1 coin.
But a number of shops have said that they will still accept the old coins up to a two weeks after it stops being legal tender.
The Royal Mint gave businesses six months to prepare for the new 12-sided pound coins to be the only ones accepted at £1 value.
Whilst some business are struggling to meet the deadline, others have decided to extend it.
Where can I still spend my old £1 coin?
Some businesses will continue to accept the old coins to help customers adjust to the change.
They are able to offer this service because retailers will be able to bank the old coins beyond the Royal Mint's deadline.
Yesterday the Sun Online reported that Tesco will accept the old round £1 coin up to a week after the deadline to "help customers out".
The food giant joined Poundland who also confirmed that they will continue to welcome the old coins in more than 850 of its UK stores until October 31.
Poundland boss Barry Williams said it was a "no brainer" given that they are the "official home of the pound".
The Federation of Small Businesses has also advised the 170,000 business who it represents also to accept the coin after this weekend's deadline.
What can I do with my old £1 coins?
If you do still find one of the old coins down the back of the sofa, you can still deposit it at most high street banks and the Post Office.
You'll be able to exchange them for a note if they're in bags of £20. If not, then you can still cash them into your bank account and withdraw them in note form later.
You are still able to donate the old coins to charity. The BBC Children In Need is running a Pudsey's Round Pound Countdown, encouraging people to give their money to the charity.
Here are some other inpirational charities who are accepting your old £1 coin donations.
Here are the places that are still the process of updating their machines
WHERE your new £1 coin might still get rejected
- Parking meters The British Parking Association said “the majority of its parking machines” are now ready, meaning that a small number are still being updated and may reject your new £1 coin in the coming weeks. Motorists are being advised to pay to use their debit cards or phone payments
- Vending Machines The Association of Vending Machines (AVA) admitted that it does not have information on about 70,000 (15 per cent) of its machines meaning they might still not be accepting the new coin. On top of those a further, 110,000 machines are not covered by AVA members and might not be updated on time. It confirmed that about 380,000 vending machines (85 per cent) are now accepting the new coin.
- Train ticket machines
TfL A very small number - just 27 old machines spread across 22 station on the London Overground network - are also still being updated.
But every single London Overground station now has one ticket machine which accepts the new £1 coin meaning there should be no disruption to customers.
Govia Thameslink Railway (GTR) - Gatwick Express, Great Northern, Southern Rail and Thames Link About 10 per cent of the rail operator machines are still being updated but should be ready by October 15
Chiltern Railways Earlier this year the operator said that many older cash ticket vending machines "will not accept the new coin".
The operator was planning to make the changes between July and October but it has not updated us on it's progress.
Why do we need a new £1 coin?
The new 12-sided coin is made from two different metals - like the £2 coin - which makes it harder to counterfeit.
INSIDE THE ROYAL MINT Coin expert reveals how errors happen at Royal Mint factory where £1 coins are made – and why they are valuable
The Royal Mint reckons that one in 30 round pound coins in circulation is fake.
The two-tone coins were released into circulation earlier this year on March 28, with the old ones about to be faded out after this weekend.
There are some old round £1 coins that you might want to keep hold of, with rare designs fetching way more than a quid.
Latest on the £1 coin
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