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.

Are you ready for the new £1 coin?

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.