Where are all the new £1 coins?
April 6, 2017 1:54pm CST
As many may now be aware, Britain has introduced a new £1 coin and the old one is due to be removed from circulation by 15th October. Apparently 300 million new £1 coins were released on 28th March. It is also quite reasonable to assume that the Royal Mint is currently minting more every day, which are also being introduced into circulation. Despite having received many £1 coins in my change since 28th March, I have not even seen a single new coin yet. I am beginning to wonder where they are all ending up and whether the banks are simply not circulating them as was intended. I am aware that we have several billion £1 coins in circulation and the old ones will be by far the most prolific, but considering the number of £1 coins that I have handled over the past 9 days I would have expected to have been given at least one.
15 people like this
• Peoria, Arizona
6 Apr 17
I wouldn't think you would see one yet. There are so many people still using their old coins so the new coins will get buried for quite some time. So probably within the next few months you will get one. We didn't get many of our new bills for ages.
• United Kingdom
6 Apr 17
I have yet to get one too. I asked the chappie in the shop about them. He said the bank sends them out only to certain locations our nearest place is around 10 miles away. He said they will eventually filter through! I want one now though!
7 Apr 17
I remember thinking the same when our new $5 note was first released. I think it wasn't until few months later that I started to see them more regularly. Give it more time and you'll probably start thinking the old coins have become rare...