£1 coin to stop being legal tender, new design introduced
61 replies, posted
[quote="BBC News"]The new 12-sided £1 coin will enter circulation on 28 March, the government has said.
The round £1 will be legal tender alongside the new, more-secure coin until 15 October.
The public are being urged to use their current £1 coins or bank them before they lose their legal tender status.
The government estimates around a third of the £1.3 billion worth of coins stored in piggy banks or saving jars around the UK are the current £1 style.
Some of those returned by the public will be melted down and used to make the 12-sided version.
The new style was announced in the 2014 budget and has been billed by the Royal Mint as "the most secure coin in the world".
[/quote]
[url=http://www.bbc.co.uk/news/uk-38480180]BBC News[/url]
[img]http://ichef.bbci.co.uk/news/660/cpsprodpb/507A/production/_89020602_89020467.jpg[/img]
Both hyped and disgusted for this as a cashier. Fucking people will be such cunts about it and say that it's a fucking euro or a £2 coin and get arsey like they did with the new fivers. Fuck's sake, read the news.
Someone actually threatened to call the police on me because he thought the new fiver was an Australian note. Fucking twonk.
Given how many £1 coins actually exist in circulation it seems a tad unfair to completely remove them from legal tender status within not even a year's time, like you'd think they'd give people more time at the very least to help shrink the number of classic pounds.
I can't see this going well at all
[QUOTE=Clovis;51609224]nightmare for vending machines[/QUOTE]
my god yes, the two years that followed the minting of a new coin series here was such ass
you'd get vending machines that would only accept new coins, or only old, or both but it would reject old coins much more than usual...
lmao the royal mint even have a video
[media]https://www.youtube.com/watch?v=i-4OcuFzZ8E[/media]
That's interesting Australia recently introduced a massively different design for the $5 note, But didn't give only a year before it isn't legal tender. Can't see this going well at all.
I wasn't aware we had such a counterfeiting problem with pound coins that required them being replaced? seems like a waste of time to me
[QUOTE=Mellowbloom;51609235]I wasn't aware we had such a counterfeiting problem with pound coins that required them being replaced? seems like a waste of time to me[/QUOTE]
Apparently 1 in 30 one pound coins are counterfeit.
[QUOTE=Mellowbloom;51609235]I wasn't aware we had such a counterfeiting problem with pound coins that required them being replaced? seems like a waste of time to me[/QUOTE]
Apparently it's close to 1% of pound coins in circulation are fake
[editline]1st January 2017[/editline]
sorry, more like 2.55%! [url]http://www.royalmint.com/discover/uk-coins/counterfeit-one-pound-coins[/url]
oh for fuck's sake
i find £1 coins in every nook and cranny in my house when i least expect it and now it's going to be all worthless
[QUOTE=jonu67;51609223]Given how many £1 coins actually exist in circulation it seems a tad unfair to completely remove them from legal tender status within not even a year's time, like you'd think they'd give people more time at the very least to help shrink the number of classic pounds.[/QUOTE]
Considering how quick the new £5 note seems to be circulating now, 10 months seems like it will be fine.
[QUOTE=angelangel;51609228]my god yes, the two years that followed the minting of a new coin series here was such ass
you'd get vending machines that would only accept new coins, or only old, or both but it would reject old coins much more than usual...
lmao the royal mint even have a video
[media]https://www.youtube.com/watch?v=i-4OcuFzZ8E[/media][/QUOTE]
They made it look like a new iphone lol
Looks cool, I just hope a lot of old arcade machines from the 80s and 90s don't end up being scrapped because of it.
While I'm ok with new designs being brought in, they could at least have the new £1 look a LITTLE more distinct from the £2 coin. Am I being a little too general here?
Case in point: £2 coin. (not to scale)
[IMG]https://upload.wikimedia.org/wikipedia/en/f/f1/British_two_pound_coin_2015_reverse.png[/IMG]
I think it's a good thing.
1) It stops people illegally making their own coins, that's better for everyone (except maybe criminals themselves).
2) If you're so bothered about the new coin, why are you still using cash in supermarkets anyway? Just pay with your NFC phone, contactless card, or even the good old-fashioned chip and pin. It's faster and you don't have to lug around a pocket full of coins. That's better for everyone because we don't have to wait behind you so long in line.
Until the 15th of October?
How fast do you think they'll take these out of circulation?
Someone is going to try and murder me when I say "Sorry mate can't take that."
meanwhile in the US we haven't redesigned our coinage in forever because its perfect already!
i wasnt aware that coin counterfitting was such a big deal since its pretty impossible for any small operation to counterfit metal coins for less than the coin is worth
Self checkout in shops is going to be awkward for a while then i guess. Time to go hunting for old pounds, i used to keep them for washing machine money in uni, i have pencil case full of £1 and 20p.
[editline]1st January 2017[/editline]
[QUOTE=Sableye;51609414]meanwhile in the US we haven't redesigned our coinage in forever because its perfect already!
i wasnt aware that coin counterfitting was such a big deal since its pretty impossible for any small operation to counterfit metal coins for less than the coin is worth[/QUOTE]
Im pretty sure i remember people using stuff that was just the same weight and kind of same size as pounds in vending machines ages ago.
[QUOTE=Sableye;51609414]meanwhile in the US we haven't redesigned our coinage in forever because its perfect already!
i wasnt aware that coin counterfitting was such a big deal since its pretty impossible for any small operation to counterfit metal coins for less than the coin is worth[/QUOTE]
Your notes are still shite though
There's a good reason why the Australian developed note are being produced by many countries around the world, including both countries neighbouring the US
[QUOTE=Sableye;51609414]meanwhile in the US we haven't redesigned our coinage in forever because its perfect already!
i wasnt aware that coin counterfitting was such a big deal since its pretty impossible for any small operation to counterfit metal coins for less than the coin is worth[/QUOTE]
The current £1 coin is one of the easiest to counterfeit apparently, mostly because its weight is easy to mimic with its scale and the design hasn't changed much in years.
I honestly don't blame the mint for pushing to get the new one into circulation so fast, its just going to be a bitch with vending machines like mentioned before, luckily it doesn't take much to get a bunch of £1s swapped to say 50p or even 20p coins.
[editline]1st January 2017[/editline]
[QUOTE=Scratch.;51609424]Your notes are still shite though[/QUOTE]
Even compared to the GBP paper notes, the USD notes are horrible, they just fall to bits and their security methods are a joke as well.
I think it's a bit optimistic to remove it from legal tender status in such a short timeframe, but fuck what can I say, I still see currency from the 1940s rolling around with drastically different designs that I have to do a doubletake on.
[QUOTE=angelangel;51609228]my god yes, the two years that followed the minting of a new coin series here was such ass
you'd get vending machines that would only accept new coins, or only old, or both but it would reject old coins much more than usual...
lmao the royal mint even have a video
[media]https://www.youtube.com/watch?v=i-4OcuFzZ8E[/media][/QUOTE]
Goddamn it, i kept waiting for Jony to pop up
[IMG]https://www.iphoned.nl/wp-content/uploads/2013/11/Jony-Ive-560x375.jpg[/IMG]
[I]Just look at the detailed 12-sided coin, this £1 is soon available for £5 at your local Apple store[/I]
[QUOTE=Sableye;51609414]i wasnt aware that coin counterfitting was such a big deal since its pretty impossible for any small operation to counterfit metal coins for less than the coin is worth[/QUOTE]
The problem is that for some of your coins (the penny in particular), malicious organisations can just smelt them and sell the metals for more than the coins' worth.
The penny is a pretty useless coin actually.
It's the most secure coin because you won't be able to use it anywhere! :P
[QUOTE=Clovis;51609224]nightmare for vending machines[/QUOTE]
Vending machines in my uni accepts debit cards, is this not a thing in England?
[QUOTE=Zergeant;51609470]Vending machines in my uni accepts debit cards, is this not a thing in England?[/QUOTE]
a few have started accepting cards around where I live, but they're still kinda rare
[QUOTE=Zergeant;51609470]Vending machines in my uni accepts debit cards, is this not a thing in England?[/QUOTE]
Ours take paywave
The Coins are a disguise, they are actually life sucking machines constructed to keep the queen alive. Sipping the life away slowly for whoever carries them.
[QUOTE=Zergeant;51609470]Vending machines in my uni accepts debit cards, is this not a thing in England?[/QUOTE]
Its very rare to see a machine accepting cards, hell most of our public transports are cash only unless you end up in a major city and even then its hit and miss.
Pretty much most public things are cash only here.
[QUOTE=ironman17;51609351]While I'm ok with new designs being brought in, they could at least have the new £1 look a LITTLE more distinct from the £2 coin. Am I being a little too general here?
Case in point: £2 coin. (not to scale)
[IMG]https://upload.wikimedia.org/wikipedia/en/f/f1/British_two_pound_coin_2015_reverse.png[/IMG][/QUOTE]
£2's already look similar to 1-Euro coins too. to the point that at work we regularly take them by mistake.
[editline]1st January 2017[/editline]
[QUOTE=Trumple;51609377]
2) If you're so bothered about the new coin, why are you still using cash in supermarkets anyway? Just pay with your NFC phone, contactless card, or even the good old-fashioned chip and pin. It's faster and you don't have to lug around a pocket full of coins. That's better for everyone because we don't have to wait behind you so long in line.[/QUOTE]
1. Maybe I don't want my card to be tracked [b]everywhere[/b]. If I'm buying buttplugs I don't want my fucking bank to know.
2. I use card anywhere non-private anyway. But I'm a cashier, and I have to deal with every form of English tender daily. You do [b]not[/b] understand how much of a pain in the ass currency changes are. Like I said in the first post, the new fivers were a huge pain in the shitcutter. Weighing them, especially. Y'see they're heavier than old fivers. So our scales, for months, weren't adjusted, because only the maintenance team knows how/is allowed to adjust them. And so we had to count new fivers by hand and weigh them seperately. When you just want to leave and cash your till up that's a huge pain, and when you've got like £200 in fivers that you're going to change up it's fucking dreadful.
Also the new fivers suck shit in terms of tactile feedback. They're so thin and fine that you've gotta triple-check to make sure you're not giving someone £15 when you wanna give them £10.
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