People now have less than 100 days to spend their round one pound coins, as after 15th October 2017 they will lose their legal tender.
The Treasury have stated there will currently be more new twelve sided coins than round ones in circulation, however it is revealed that one in three people still have old pound coins in their homes.
Shops will accept the round coins in the lead up to and including Sunday 15th October. Alternatively, you can exchange/deposit any round pound coins at your bank. Instead of sporadically going to the bank to change your coins you can collect a large amount to then trade in for notes. If you are donating money to any charities or events taking place, consciously choose to use your old round one pound coins to dispose of them.
You can also choose to collect them, as more coins are being deposited they are becoming much more valuable. There are companies such as Change Checker that launched its £1 coin race in February which sets people to get all 25 designs before 15th October.
It is essential to know that as a business owner from the 16th October you are under no obligations to accept the round pound coin or distribute it. To find out more visit www.thenewpoundcoin.com