General Chat

Hoarders with stashes of £1 coins are being warned to cash them in – as they will soon be useless.

The familiar round Pound will start disappearing next month when the new 12-sided version is rolled out.

And the old one will cease to be legal tender from October 15 , meaning it can no longer be spent.



The switch has raised fears that millions of children with piggy banks, elderly people with jars of savings and householders who keep loose change for odd purchases will be out of pocket.

The speedy handover is designed to keep a step ahead of forgers who have mastered how to replicate the original with an estimated £45 million worth of fake £1 coins in circulation.

New £1 coins ALREADY selling for hundreds on eBay - and they're not even out in the UK yet

If savers bag them up to exchange, they might be in for a shock. There are so many fakes in existence which could be rejected but retained by the bank to take them out of circulation.

The action of a govt going broke now gouging Your sofa and piggy bank.

And why are they broke ?

mostly from bailing out Lloyds and rbs long after the fin. Crisis was over.
2nd reason forcing down wages which had the v predictable effect of reducing the take fom tax and ni.
Geo Osborne richly deserved the sack.
His successor is safer inasmuch as zero imagination.
The UK has more and more people producing less and less per person. This typucal of 3rd world economies on the road to wrack and ruin. And Greece.

So not just spending more than they have...like Greece

UK gov has always run a deficit it was what the BOfE was founded for raising the wind for the napoleonic wars. Otoh running a deficit to fund qe is a
Primrose path to hyperinflation.
Greeces problems are simple. tax is not collected - still. hence little tea and sympathy.
There wont be much t and S for the brexiters either. The USA and others are gearing up for the biggest asset stripping operation ever. The carpet baggers such Trump know how to do it.
UK will be lucky to keep control of its pinky.

For a minute there I thought you weren't going to be doom and gloom about brexit.....

Lessons to be learned from India's recent currency replacement experience.

OH and just wait till the "NEW" car tax bands come into force

the govt are losing SO much money on the low emission / hybrid type cars that all tax bands are changing...

Fortunately the changes are for new cars registered after April 1st but it is buyers of smaller, more economical cars who will face the biggest tax hike - in some cases, more than nine times what they're paying now!