‘Round pounds’ cease to be legal tender but some retailers will still accept them – for now

Published by Adam Williams on 16 October 2017.
Last updated on 16 October 2017

A stack of old pound coins

The old ‘round pound’ £1 coin ceased to be legal tender on Sunday 15 October, but some retailers and charities will still accept them for a short period.

Supermarkets Aldi, Iceland, and Tesco and charities, such as Children in Need, are among those that still allow shoppers to spend or donate their old pound coins - for now.

According to the Royal Mint, there are estimated to be around 500 million of the coins still in circulation.

Where can I spend my old £1 coins?

These are the major retailers that have so far confirmed they will continue to accept the old £1 coins:

  • Aldi will accept the round pound until Tuesday 31 October 2017.
  • Iceland will accept the old coins in all UK stores up until 31 October 2017.
  • Poundland will accept the old £1 coins in all UK stores up until 31 October 2017.
  • Tesco will accept the old £1 coins for a further week, until Sunday 22 October.

Moneywise will update this section if more retailers announce they are still accepting the old £1 coin.

Many charities are also welcoming donations of old pound coins. Children in Need has launched a Round Pound Countdown campaign and is encouraging consumers to donate any old £1 coins up until its 17 November 2017 appeal day.

Other charities that are welcoming old coins include Epilepsy Action, the Poppy Appeal, and Poverty Child.

What else can I do with old £1 coins?

While the Bank of England will swap old banknotes “for all time”, the Royal Mint is unable to exchange any old coins.

However, although they are not legally obliged to do so, major high street banks and the Post Office will still accept old £1 coins as deposits or exchange them for new £1 coins after the cut-off date.

The banks that will do this include: Bank of Scotland, Barclays, Clydesdale Bank, Halifax, HSBC, Lloyds Bank, Nationwide, NatWest, RBS, Santander, Ulster Bank and Yorkshire Bank.

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