The £1 coin is here!

28-03-2017

new-pound-coin-is-here

The new £1 coin was introduced into circulation on the 28th March. There is now a short period of co-circulation with the old, round £1 coin, which will end in mid-October. After this, the old £1 coin will no longer be accepted as legal tender.


With this in mind, it is important to ensure that all of your coin handling hardware is up-to-date and ready to accept the new £1 coins, including your revaluation units.


Please remember: 35% of cash credits made at revaluation units consist of £1 coins, which means that more than £5,000 is taken each month in £1 coins at the average secondary school. Therefore, we encourage you to upgrade your revaluation units as soon as possible in order to avoid disruption to your school day.



Please note: If you have not already had your revaluation units upgraded to accept the new £5 polymer notes, then you may also wish to request this at the same time.


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