Coin-fusion for businesses as new pound coins mistakenly returned

Coinslot - Royal Mint pound coin
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Businesses around the country appear to be getting themselves into a spot of confusion and have been accidentally returning new pound coins instead of the old at an alarming rate.

 

With less than two months left on the co-circulation period, the changeover is being hampered by around half of coins being returned belonging to the new mintings.

The treasury is calling on businesses to make sure they are returning the right currencies to facilitate a smooth changeover.

MP Andrew Jones, the exchequer secretary to the Treasury said: “There has been a fantastic effort from both the public and businesses in returning more than one billion old round pounds, and I thank everybody involved in this process so far,” he said.

“But there is still more to do before the deadline. Businesses must remain vigilant when returning coins and ensure old and new coins are organised in separate packaging to make the sorting process quicker and easier.”


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