People not CV's

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People not CV's

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A new shape for the pound coin?

The Treasury has said businesses should get ready for the introduction of a new pound coin that will feature a 12-sided shape.

Those of you that are old enough will remember the affectionately named 'Thrupenny bit' (3 old pence – 3d), which was removed from circulation following decimalisation in 1971. This ‘new shape’ pound coin looks suspiciously similar!

If you were born after the 70’s you probably have no idea what I am talking about, so take a look at the picture of a 1953 3d coin  and you decide.

Any time a coin is replaced there is a need for every machine that is coin operated to be adapted to accommodate the change (no pun intended!).

Firms are being told to be prepared and adapt their equipment ready for the change, training staff has also been said to be of importance.

The new coin is set to be released in March 2017, all machines that accept cash will have to change.

During a six-month transitional period, all businesses must find a way to accept both the old and the new pound coin.

The updated website which is hosted by The Royal Mint has suggested that all firms should check before March whether they need to update their equipment for the release of the pound coin. All machines will need to be able to take both types.

The new idea for the pound coin has come about after the finding that many coins in circulation now are fake. The new design will make it harder for the coins to be counterfeit.

David Gauke, the Chief Secretary to the Treasury, told the BBC: “The new £1 coin will be the most secure of its kind in the world and its cutting-edge features will present a significant barrier to counterfeiters, reducing the cost to businesses and the taxpayer,”

The round pound coin will no longer be accepted after Autumn 2017 and customers should no longer be distributing it themselves. Though high street banks and Post Offices will be available for people to deposit the old coin.

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Recruitment Consultant

David B Photography

The new Pound coin looks suspiciously like the old Thrupenny bit (3d)


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