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Retailers urged to prepare for new £1 coin

The Association of Convenience Stores (ACS) is encouraging retailers to ensure that their stores are ready for the introduction of the new £1 coin on March 28.

ACS took part in a roundtable meeting on Tuesday February 28 with Treasury minister Baroness Neville-Rolfe, to report on the levels of readiness in the convenience sector.

In one month’s time, the 30-year-old round pound coin will start to be brought out of circulation and replaced with a new 12-sided version. The coin will officially enter circulation on 28 March 2017, with a six-month co-circulation period following.

ACS is encouraging retailers to prepare for the new coin with the resources available to them through the official pound coin website. The site contains a short film and downloadable materials for retailers.

ACS chief executive James Lowman said: “The introduction of a new £1 coin is a positive step toward taking counterfeit coins out of circulation.

“It is essential that retailers are prepared for the introduction of the new £1 coin, as the transition is likely to affect a number of areas of their business, especially if they have coin-operated machines such as self-service tills in store.

“We encourage retailers to make use of the guidance provided by the Royal Mint and to speak to their suppliers of coin-operated machines as soon as possible to make the transition as smooth as possible for consumers.”

More information about the new £1 coin can be found at www.thenewpoundcoin.com.

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Weekly retail fuel prices: 15 January 2018
RegionDieselLPGSuper ULUL
East124.9460.90131.85122.27
East Midlands124.34132.31121.54
London125.0662.90132.42122.10
North East123.94133.63121.07
North West124.1658.50132.51121.18
Northern Ireland123.4169.90128.40120.85
Scotland124.5774.90130.88121.33
South East125.1561.40132.52122.48
South West124.73130.24121.91
Wales124.44128.57121.19
West Midlands123.7465.23132.27121.20
Yorkshire & Humber123.9161.90132.74121.12

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