Tuesday, March 28, 2017
The new UK pound coin comes into circulation today. It was last changed 36 years ago, and it is estimated that of the 155 billion in circulation, £47 million are fake!
It is a nightmare for Tesco, the supermarket giant in the UK who failed to get coin discriminators in trolleys changed in time, forcing them to leave all trolley's unlocked. At £150 per trolley, thats a lot of unprotected rolling stock out there.
The new 12-sided pound coin has a laser etched design where the "£" changes to "1" as you tilt the coin in the light. It is hoped that the new design will eliminate forgeries. Time will tell.
The round pound will cease to be legal tender in 6 months, so start splurging your old ones today and do your bit to help spend our way out of austerity!