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28/04/2016

Government introduce new pound coin

With the level of counterfeit pound coins as high as 3% over the past few years, the government hopes that the launch of the new coin will mean a significant reduction in counterfeit costs.

The new 12-sided pound coin will launch in March 2017 and will include a six month teething period to eventually phase out the current coin.

In recent years, there has been an estimated 45 million counterfeit pound coins used in the UK, however Royal Mint state the new coin will be the most secure in circulation throughout the world.

James Lowman, Chief Executive at ACS warns retailers to expect minor disruption during the phase-out period while their in-store coin operated machines are adapted for the change and whilst their customers and employees are getting used to the new coin.

Source >> Convenience Store

 

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