Businesses Send Perfectly Good £1 Coins to the Smelter

By Gary Cutlack on at

The effort to replace the nation's £1 coins with other £1 coins isn't going entirely to plan, as it seems that some businesses are failing to be bothered enough to sort them out properly before sending the old coins back to be melted away.  Some of the shiny new ones are being returned in with the battered old ones from 1983.

That's according to a company we've never heard of before called Vaultex, which specialises in money processing on behalf of big business and the Bank of England. It says that nearly half of some batches of the coins being sent back to be taken out of circulation are in fact the new model of pound coin, rendering the process somewhat useless.

Blame is being placed upon everyone, from the cashiers that handle change who are are still handing out the old £1 coins, to business owners who aren't doing a proper enough job at the end of the day when sitting in a back room surrounded by the day's takings, laughing, and piling it all up.

The old pound coin ceases to be legal tender on 15 October. [BBC]

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