The New £1.00 Coin On The 28Th....

[trt]

I wonder how much its going to cost for all the makers of supermarket trolleys coin, clothing & baggage lockers, vending machines, parking meters etc etc.

Do the company's get some kind of compensation?

[emmie]

no idea, but it must be a small fortune, one guy in an arcade wondered how they are going to replace all the machines?

[Jackdaw33]

I remember when the £1 coin first came out. Some bright boys from the Royal Grammar School had worked out that 2 5p pieces (the old shillings) glued together were exactly the same weight as the new £1. Thus they would insert two 5ps for a ten pence ticket and get 90p change. It took the rail company six months to cotton on.

[Mamyalynne]

Some info here

http://www.governmentbusiness.co.uk/features/how-will-new-pound-coin-affect-vending

[chelle7272]

Doesn't seem like there's any compensation. This articel says £30 per vending machine to update
http://www.lincolnshirelive.co.uk/skegness-arcades-ready-for-the-new-1-coin/story-30024853-detail/story.html

[petal54]

there are little discs that can be used instead,not sure where they come from though

[petal54]

car park machines also,these had probs when other coins were changed(50'ps I think)

[emmie]

haven't they got till October to sort this out and get replacements in place.

[Mamyalynne]

Yes, but there is uncertainty about how the change over period may affect some areas.


http://tech-mag.co.uk/new-1-coin-will-affect-business/

[New Judge]

"...there are little discs that can be used instead,not sure where they come from though"

Indeed there are, petal. Many charities sell them. The problem is er...that they are the same size and shape as the old £1 coin. When the machines and trollies are changed the little discs will be as useless as the old £1 coins.

[Guilbert53]

To be honest it does not matter how much it costs it has to be done

There are thought to be more than 30 million fake round pounds in circulation, adding up to about 2.5 per cent of coins.

Considering all money is based on "trust" (we trust that a coin or bank note will be honoured by anyone when you go in a shop or business) if we start to lose that trust the whole economy could collapse.

So we need to get rid of £1 coins that are easy to make and replace them.

[OldBather]

In the large (Arndale)Shopping Centre that I go to there are notices on the payment machines."This machine does not accept new £5.00 notes,nor does it accept new £1.00 coins".I asked at the customer service desk when they would accept these notes/coins,a (very helpful, but bewildered)staff person couldn't tell me.They said that they had had many such queries,but their "head office" hadn't been at all forthcoming when asked.

[OldBather]

BTW,it's my (70th)Birthday on the 28th, so can I have all the old £1.00 coins as a present please?

[trt]

Here is the news from all the supermarkets.

http://www.mirror.co.uk/money/what-happen-supermarket-trolleys-vending-9567481

[anneasquith]

Why are we having new coins?

[sunny-dave]

Because the chavs have minted so many forgeries of the old ones, anne

[Baldric]

I see it's 12 sided, is that so you can get a spanner on it etc . . . . . . .

[anneasquith]

Really Dave,I've missed that bit of news , :-(

[Mamyalynne]

It was in my first link Anne.