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Aldi to accept old £1 coin for two weeks after deadline

The new £1 coin on the left, the old round pound on the right.
The new £1 coin on the left, the old round pound on the right. Photograph: Aled Llywelyn/Athena Pictures

The discount supermarket chain Aldi is to accept the old £1 coins in its UK stores for two weeks after they cease to be legal tender.

The UK’s largest retailer, Tesco, said earlier this week that it would allow its shoppers to pay with the round pound coins at tills and self-service machines for an extra week in apparent defiance of the 15 October deadline the Royal Mint has imposed.

It follows a similar announcement by the discount retailer Poundland, which will accept round pounds until 31 October. About 500m are believed to remain in circulation.

Aldi said: “We’ve been ready to accept the new £1 coins since they first came into circulation in March. To make the transition as easy as possible for our customers, we will continue to accept the old £1 coins as payment across our stores until 31 October.”

The old coin remains legal tender until midnight on Sunday. After that time, businesses can stop accepting it and will not automatically be giving it as change for notes.

The Royal Mint and the Treasury were keen for retailers to stick to the deadline for a clean break from the round pound to avoid potential chaos being created by some shops continuing to accept them.

The new 12-sided £1 coin, which resembles the old threepenny bit, entered circulation in March and has new high-tech security features to thwart counterfeiters.

The production of the new coins followed concerns about round pounds being vulnerable to sophisticated counterfeiters. About one in 30 old-style pound coins in people’s change has been fake in recent years.

This article titled "Aldi to accept old £1 coin for two weeks after deadline" was written by Rebecca Smithers Consumer affairs correspondent, for on Wednesday 11 October 2017 07.55pm


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