WITH less than a month to go until the new 12-sided pound coin is launched, residents in Teignbridge are being urged to spend or return their old £1 pieces.
More than 39 million pound coins are being stored away in purses and piggy banks and the Royal Mint is encouraging people to spend them or return them to be melted down and transformed into the new coin.
Currently the mint is producing 1.5 billion new coins at the rate of up to 2,000 a minute.
The new coin will be the most secure coin in the world with a hologram and specially developed high security feature hidden in the coin which will help with the battle against counterfeits.
Baroness Neville Rolfe, commercial secretary to the Treasury, said: ‘We are urging the public to dig out their round pounds from coat pockets, handbags and down the back of sofas, in order to spend or return them before October 15, 2017.’
For more information or if you have a question about the new coin visit www.thenewpoundcoin.com or email newonepoundcoin@ royalmint.com.