You only have ONE WEEK left to spend your old round £1 coins… but there are still £400m worth in circulation
Make sure you spend your old round £1 coin before Sunday when businesses are no longer obliged to accept it
THERE is just ONE WEEK left to spend the old round £1 coins before they are withdrawn from circulation.
The clock is ticking as the old pounds will cease to be legal tender on October 15 - but there are still £400million-worth in circulation.
If you're left with a stash of old coins after October 15, don't panic.
Most banks and building societies will continue to accept the old round pound after this date, as long as you are customer.
Customers can also pop into their local Post Office branch to deposit the old £1 into their bank account.
So, whether you are handling cash at the till or checking your change in the pub, check whether the pound in your hand is the new 12-sided version.
Thousands of vending machines, train ticket machines, shopping trolleys and thousands of parking meters are in the process of being switched over.
In July, the Treasury estimated that 800 million of the old style coins had been returned, but there are many more still out there.
The process of replacing the coins, which have been in circulation for 33 years, began in March with the release of the new 12-sided version.
The new pound coin has been hailed as the most secure in the world as they're harder for counterfeiters to copy amid reports about one in every 30 old-style coins are fakes.
On their website, The Royal Mint said: "Its distinctive shape makes it instantly recognisable, even by touch."
The new 12-sided £1 coin also has all new dimensions. It is thinner than the old coin measuring just 2.8mm in thickness.
The coin is also lighter weighing just 8.75g but it is larger in diameter measuring 23.43mm across.
Thousands of new £1 coins are said to carry major production flaws in a huge embarrassment for the Royal Mint.
People have been flogging new coins with faults - with a window cleaner expected to land up to £3,000 after he found one with two different dates stamped on it.
Hundreds of new £1 coins have been listed on eBay with sellers claiming they too are rare.
As a general rule of thumb, the rarer the coin, the more valuable it is, and we’ve also published a £1 scarcity index, so you can find out the value of each of the 24 £1 coin design.
The Sun Online has also previously shown which error coins can bag you the most cash.
