When do old pound coins go out of circulation? One of the biggest shake ups in British currency is looming, the old pound coin will go out of circulation on October the 15th 2017.
British pound coins have been round ever since their first inception, in which they replaced one pound notes, but during the last ten years fraudsters started pumping fake pound coins into circulation, these were slightly golder looking than the real pound coin and it was estimated by experts that there were around 100 million fake pound coins being handed about by people who were non the wiser.
The government and the bank of England have to tackle fake money the best they can, be it making new notes that are harder to forge or creating new coins such as the new 12 sided one pound coin.
So, time is running out to ditch your old one pound coins and exchange them for shiny new ones. If you’ve got any piggy banks that you’ve been putting money in to save up for Christmas so that you don’t need a loan, you may have to crack it open early because once the 15th of October has passed you will not be able to spend old pound coins in stores.
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