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.