Fylde coast gets set to ditch round pound

Bhumika Sharma from Chard with the new pound coin
Bhumika Sharma from Chard with the new pound coin
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The days of the round pound are numbered as Britain gets set to switch to its 12-sided replacement.

People will have until October 15 to swap or spend up their current currency as the coins are phased out in a bid to beat forgers who have put almost 50 millions fake pounds in circulation.

The new coin will be a similar gold and silver colour as a Euro and have security features such as a hologram which changes from the £ symbol to a number one as the viewing angle changes.

Some car park machines and slot machines nationwide are having to be converted to deal with the new dodecahedron and its new metals composition but local councils say the cost is not a problem.

A Fylde Council spokesman said: “All our machines that required upgrading were done in May and June last year at a cost of £1,805.”

A Wyre spokesman said: “All our car parking machines will accept the new coin so there is no impact on us.”

One Blackpool coin expert, Chard of Harrowside, has got its hands on samples of the new coin which will come into circulation on March 28.

Some trial coins are reportedly being sold online for £200 each to collectors.

Expert Lawrence Chard said: “The new £1 coin is creating a great deal of interest, everyone has been popping in to have a look at the new coin. We have seen a couple of 12 sided £1 coins dated 2016 on private auction sites – these are trial pieces not issued as coinage.

“They will have been handed out to banks, supermarkets to familiarise their staff with the new features and to vending machine manufacturers so that they can adapt the coin slots. It looks like a few have made their way into private individuals hands and they are making a mint.”

He said that those with long memories, will see the resemblance to the old brass threepenny-bit which fell victim to decimalisation.

He added: “The edge of the pound coin alternates between a reeded and a plain edge. The obverse of the coin (the front) bears the fifth UK coin portrait of Elizabeth II by engraver, Jody Clark.

“The reverse features a crown with the four floral emblems of Great Britain; the English rose, the Welsh leek, the Scottish thistle and the Northern Irish shamrock symbolising the unity of the four nations.

“The floral engraving which covers both the inner silver centre and the gold outer band was designed by 15 year old Walsall schoolboy, David Pearce. His initials DP are set below the crown”

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