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New £1 and 50 pence coins


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Old 01-01-2017, 12:23
AL_Bundy
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So it has been announced that a new £1 coin will come into circulation in March this year, with the old ones being legal tender until 15th October 2017. There is also new 50 pence also coming into circulation as well, but does anyone know if the old 50 pence coins will be going out of circulation and if so on what date?
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Old 01-01-2017, 12:35
jmclaugh
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The new 50p is afaik is just a new design on the face, it isn't like the new £1 coin a replacement.
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Old 01-01-2017, 12:39
AL_Bundy
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The new 50p is afaik is just a new design on the face, it isn't like the new £1 coin a replacement.
Thanks, it does make sense as the article I read did not mention a date for the old 50p to get replaced.

I will double check next time I am down the bank as well.
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Old 01-01-2017, 12:42
stud u like
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This will confuse the blind people.
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Old 01-01-2017, 12:48
evil c
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The new 50p is just a new design for 2017, they're not going out of circulation. It's only the old shape £1 that will go on Oct 15th, as you stated in your OP. More here: http://www.hulldailymail.co.uk/new-1...ail/story.html.
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Old 01-01-2017, 12:49
albertd
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More info on new coins in 2017 here and specifically on the new £1 here.
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Old 01-01-2017, 13:30
AL_Bundy
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Thanks folks.
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Old 01-01-2017, 14:10
albertd
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This will confuse the blind people.
The Royal Mint state that consultation with the RNIB has concluded that they will be easier to identify.

From the FAQ:
How will the visually impaired be able to identify the new £1 coin?

The Royal Mint has consulted with the Royal National Institute of Blind People (RNIB) to assess any impact for the visually impaired in relation to identifying the new £1 coin. User testing showed that the 12 sides of the new £1 coin and the milled edges made it easier to identify.
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Old 01-01-2017, 14:19
InMyArms
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More info on new coins in 2017 here
In 2017 the public will see the new 12-sided £1 coin, hailed as the most secure coin in the world, enter circulation.
They're setting themselves up for failure with that quote! I can imagine the Daily Mail headlines when fake ones inevitably enter circulation..
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Old 01-01-2017, 14:27
Cryolemon
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They're setting themselves up for failure with that quote! I can imagine the Daily Mail headlines when fake ones inevitably enter circulation..
Given that they are including a "secret" security feature* it might at least take a bit longer.

*probably just an RFID tag or something, tbh.
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Old 01-01-2017, 15:04
albertd
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They're setting themselves up for failure with that quote! I can imagine the Daily Mail headlines when fake ones inevitably enter circulation..
They do say in the FAQ that no coin is counterfeit proof.
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Old 01-01-2017, 15:28
Union Jock
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This will confuse the blind people.
This thread?
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Old 01-01-2017, 15:32
Deep Purple
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This is going to cause a lot of expense for the those that operate the many machines that take the £1.00 coin. Car park meters, vending machines, supermarket trolleys etc.
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Old 01-01-2017, 16:13
gomezz
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I have a token somewhere that operates a pound slot mechanism which is handy as it meant I am never tempted to spend it and be without. I am sure they will be still be available. I got mine for £1.50 from a charity shop.
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Old 01-01-2017, 16:15
Princessxxxx
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The reason the 1 pound coin is being taking out of circulation and not the 50p is because about 20% of the coins in circulation are fakes.
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Old 01-01-2017, 16:57
BellaRosa
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This will confuse the blind people.
And the elderly. They struggle as it is.

Our money is more like Monopoly money as it is. The new £5 notes are a pain
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Old 01-01-2017, 17:19
Princessxxxx
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And the elderly. They struggle as it is.

Our money is more like Monopoly money as it is. The new £5 notes are a pain
Reason it is getting smaller as cheaper to mkae.

I'm of the view that within a few yrs the gov will make us a cashless society. Me and my parents rarelt car cash as we manage with cards - it will make it much easier for the gov to trac black market money and many busniess people that rund smaller firms Eg builders, shopis taxis etc have cash stashed away. In India they did aaway with 50 and 100 quid notes overnight and anyone dpeositing more than a few hundred quid by a some one we knowcut off date of 3 months would need to detail the source of their money

One of uncles runs a build firm high end - deal in loads of cash - several years ago car main dealers stopped taking cash payments of more than 1k becuse of gov guidleines - so my uncle had to delay buying his brand new Bentley until he drip fed cash into his, and his wifes accounts
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Old 01-01-2017, 17:23
Welsh-lad
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And the elderly. They struggle as it is.

Our money is more like Monopoly money as it is. The new £5 notes are a pain
Yeah my late gran moaned when they made the 5p, 10p and 50p smaller.

I offered to take them whenever she received any in change, but surprisingly she wasn't up for this at all.
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Old 01-01-2017, 17:42
Nostlagic
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This is going to cause a lot of expense for the those that operate the many machines that take the £1.00 coin. Car park meters, vending machines, supermarket trolleys etc.
Oh god yes, i forgot about those. The arcade owners won't be having a good year..
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Old 01-01-2017, 21:39
Multimedia81
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Although I knew that a new £1 coin was on the cards, today was the first time I heard that the current one would cease to be legal tender in October. Little did I know yesterday that the current £1 coin would survive the whole of this year.
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Old 01-01-2017, 21:45
francie
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More info on new coins in 2017 here and specifically on the new £1 here.
Thanks albertd.
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Old 01-01-2017, 22:04
WhatJoeThinks
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The reason the 1 pound coin is being taking out of circulation and not the 50p is because about 20% of the coins in circulation are fakes.
About 20%, eh?
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Old 01-01-2017, 22:10
albundy73
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I read it was one in ten. Sounds about right as it seems about one in ten I put in pay machines are not accepted.
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Old 01-01-2017, 22:17
WhatJoeThinks
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I read it was one in ten. Sounds about right as it seems about one in ten I put in pay machines are not accepted.
From the horse's mouth:

The Royal Mint regularly conducts surveys to estimate the level of counterfeit £1 coins in the UK. A survey undertaken in May 2015 found that the rate of counterfeit UK £1 coins in circulation at the time was 2.55%, compared to 3.03% in May 2014.
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Old 01-01-2017, 23:14
Brian The Dog
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Given that they are including a "secret" security feature* it might at least take a bit longer.

*probably just an RFID tag or something, tbh.
Yes but many small shops and vendors will have RFID readers?
Plus if you get them as change, will you carry a RFID reader around with you?

Some of the old £1 coin fakes weren't very good (Gold paint!) and yet millions got into circulation. So many in fact that they just gave up on trying to sort it out.
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