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If you handle cash at a craft fair you NEED to know this!!
Did you know that they estimate that 1 in 30 £1 coins are fake!!!! That’s just scary, imagine when you sell one of your handmade products at a craft fair, someone pays you in £1 coins then the bank tells you they are worthless!! So this is a good thing for all of us!
What is it you need to know?
The most obvious is the shape change; round is out, and a new twelve sided coin is in.
The important dates are you need to remember are:
The new coin will be circulated from March 2017.
Between March – September 2017 both coins will be in use, with the old coin being phased out.
From Autumn 2017 you can no longer accept or distribute the old, round, pound coin. It will no longer be legal tender.
You can find the full information here : Royal Mint PDF info sheet: http://www.thenewpoundcoin.com/media/1004/rm-1-leaflet.pdf
Or visit the Royal Mint new pound coin website here: http://www.thenewpoundcoin.com/
Image of new pound coin courtesy of thenewpoundcoin.com