Are you a coin hoarder? If so, this is a warning. Empty your piggybanks, upend your coin jars, scrabble behind the sofa and get all your pound coins together – then spend or save ’em before October.
The new 12-sided £1 coin is being rolled out next month, and the current round version will stop being legal tender (and so won’t be accepted in shops) on 15 October 2017. After that, if you still have any old £1 coins, you won’t be able to spend them.
Of course, you’ve a few months left yet to sort it. But it’s worth doing it now, as with piggybanks and coin jars it’s all too easy to squirrel money away and forget about it.
Many banks and building societies have told us they will continue to accept the old pound coin even after 15 October. But all those we asked, including Barclays, HSBC, Lloyds/Bank of Scotland, Nationwide, RBS and Santander, said they’d only do this for their own customers.