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UK Government to Re-design £1 Coins "Baww Green Queen Eyes!"

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Just announced on BBC News. 

 

The UK Budget is to come out tomorrow and theres one hell of an announcement, the £1 coin, is to be replaced.

 

Old design

 

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Say hello to the new pound coin.

 

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It's based on the old 2-sided pre-decimal 3-penny piece introduced in 1937 and removed from circulation in 1971. According to the treasury, it'll help combat counterfeit coins of which there are said to be millions in circulation.

 

Erm... thoughts on this one?

 

Obvious consequence....

 

Every single vending machine/automated machine in the UK will need to be redesigned. be they ticket dispensing machines, vending machines, parking meters shopping trolleys.

 

Oh man... just think of all those super markets who have been installing self service checkouts lately.

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Well well well...

I certainly never thought I'd see the day. It looks rather fancy, it's like the £2 and the 50p had a baby... Which will certainly make it more hassle to feel if you have the right coin before you get it out the pocket...

Well, I personally am quite shocked. But let's see where this goes.

By the way, when will it be introduced?

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While a redesign isn't a particular issue on its own. I'm wondering if things like vending machines would need redesigning/reprogramming to compensate. Actually that goes for any equipment that works with them.

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That thing looks like it could kill someone, like a 50 pence piece on steroids or something.

 

I'm very surprised at this, and a little confused as to why...? I don't really care in the long run, it just seems kinda pointless. Oh well, suppose it'll be easy to get used to.

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What the fuck? Why? Why is this necessary so basically all my pound coins are worthless or is this a gradual thing? What's the point?

 

Hey Government you got mentally disabled people starving to death in their own homes because you cut their benefits and you make fuss over the pound coin design?

 

Osborne you cretin. dry.png

 

EDIT: Looks a Two pound coin and a 50p coin had a baby.

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For God sake I just started putting £1 coins into a £500 Bank Tin a few days ago. I got up to £3 in there so far.

 

How long before the old coin is no longer legal tender and I have to take the tin opener to a 99.4% empty container, I'm sure we'll find out tomorrow.

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Actually that goes for any equipment that works with them.

 

Things that the design alone will have an impact on.

 

Shopping trolley £1 hooks, you know those things you put a £1 coin in to get a trolley? All those will need to be re-designed.

 

Vending machines.

 

Parking meters

 

Anything which dispenses a ticket, e.g. train ticket machines.

 

Self service checkouts.

 

Candy/sweet dispencers (Those things you put a £1 coin in, turn the dial and sweets come out)

 

Toy dispensers (Tomy/Gacha right now must be spinning)

 

Anything that has a £1 lock on it, so gyms, leisure centres which have lockers will have to change.

 

And one huge impact is going to be those companies who make those £1 token things, you know those metal circle things that you usually get on keyring? Those will eventually become useless.

 

There's probably a lot more.

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Things that the design alone will have an impact on.

 

Shopping trolley £1 hooks, you know those things you put a £1 coin in to get a trolley? All those will need to be re-designed.

 

Vending machines.

 

Parking meters

 

Anything which dispenses a ticket, e.g. train ticket machines.

 

Self service checkouts.

 

Candy/sweet dispencers (Those things you put a £1 coin in, turn the dial and sweets come out)

 

Toy dispensers (Tomy/Gacha right now must be spinning)

 

Anything that has a £1 lock on it, so gyms, leisure centres which have lockers will have to change.

 

And one huge impact is going to be those companies who make those £1 token things, you know those metal circle things that you usually get on keyring? Those will eventually become useless.

 

There's probably a lot more.

 

It really seems unnecessary when you look at a list like that. I get the whole combating counterfeits argument but was it really an issue big enough to cause all this? 

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Is the new coin the same size as the old one? If so, it's possible that a typical vending machine would accept it anyway depending on the weight; sides and all. It's not too hard to trick vending machines that take quarters in America into taking stuff that isn't remotely similar in design simply by getting something that is the same size when put in the machine.

 

so basically all my pound coins are worthless or is this a gradual thing?

There's no standard by which "introducing new coinage will make all previous coinage immediately worthless" makes sense.

 

What's the point?

To make the coin harder to counterfeit. It's pretty clearly explained. The question is not "why" so much as "was it necessary considering the potential drawbacks"

 

Hey Government you got mentally disabled people starving to death in their own homes because you cut their benefits and you make fuss over the pound coin design?

It's nice to know that the entirety of the British government only focuses on one task at a time.

 

Osborne you cretin.

Satan himself, I heard.

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I like the design. Kind of like a mix between 50 pence coin and 2 pound. But if they would have to change the majority of things that accept pound coins which are round, it take them a while to change to ones that accept these new coins. They're not releasing very soon are they? o_o

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I remember when the 50p and 10p was re-designed.

 

What happened is that a date was set in which the coins would no longer be recognised as legal tender. So up until this date you had the following options.

 

1: Spend the coins.

 

2: Put them in a bank.

 

3: Ask for the bank to exchange them for the new ones.

 

4: Keep them and then become 50p less richer.

 

The difference here is that the 50p and even the 10p were not as dominant as the £1 is today, not as many automated/vending machines back then, and a lot of machines today have £1 as the charge, almost every shopping trolley has it, lockers certainly do. Going to be interesting to see who/what will be affected.

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Apparently these aren't being released until 2017? If so, that gives a major change-over time for all those listed facilities. Sure, it'll cost billions to change them all, but the owners currently have time to make money back on recently bought equipment.

That, and we'll probably have a year when both £1 coins work for certain purchases, as I'm sure that's what they did in the past for these sorts of things.

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I'm not really too bothered by any of this. In fact, I like the new design more than the old one. Reaching into your pocket to retrieve a pound coin will be a lot easier now, due to the sides distinguishing it from other coins.

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As someone who works in a supermarket, I can tell you this is VERY welcome news. The counterfeits have slowly become more and more of a problem over the last several years. When I was working at Sainsbury's about 5 years ago, customers would unknowingly give them to me about once a month and in the last year at the Co-op Food store I work at I've been getting them once, sometimes twice, a week. It's a BIG problem. I've seen so many that I've now got an eye for the fakes and can identify them as soon as they're handed to me.
 
Here are just two news stories from the last year regarding people being caught making the fakes:
 
Gang made £16,000 of fake £1 and £2 metal coins in just one month by painting lead with silver and gold PAINT
http://www.dailymail.co.uk/news/article-2345748/Gang-16-000-fake-1-2-metal-coins-just-month-painting-lead-silver-gold-PAINT.html
 
Two jailed for fake £1 coins money laundering con
Two men have been jailed for their part in a money laundering scheme making thousands of fake £1 coins.
http://www.expressandstar.com/news/2014/02/03/two-jailed-for-fake-1-coins-money-laundering-con/

Here's the Royal Mint's page about how to identify fakes You might have one in your wallet/purse and not even know it.
http://www.royalmint.com/discover/uk-coins/counterfeit-one-pound-coins

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As someone who works in a supermarket, I can tell you this is VERY welcome news. The counterfeits have slowly become more and more of a problem over the last several years. When I was working at Sainsbury's about 5 years ago, customers would unknowingly give them to me about once a month and in the last year at the Co-op Food store I work at I've been getting them once, sometimes twice, a week. It's a BIG problem. I've seen so many that I've now got an eye for the fakes and can identify them as soon as they're handed to me.

 

Here are just two news stories from the last year regarding people being caught making the fakes:

 

Gang made £16,000 of fake £1 and £2 metal coins in just one month by painting lead with silver and gold PAINT

http://www.dailymail.co.uk/news/article-2345748/Gang-16-000-fake-1-2-metal-coins-just-month-painting-lead-silver-gold-PAINT.html

 

Two jailed for fake £1 coins money laundering con

Two men have been jailed for their part in a money laundering scheme making thousands of fake £1 coins.

http://www.expressandstar.com/news/2014/02/03/two-jailed-for-fake-1-coins-money-laundering-con/

Here's the Royal Mint's page about how to identify fakes You might have one in your wallet/purse and not even know it.

http://www.royalmint.com/discover/uk-coins/counterfeit-one-pound-coins

 

Thanks for clarification Shadzter lets hope it goes as smooth transition as possible and it doesn't end up a complete cock up.

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