Teresa has today encouraged her constituents to check for and use any old £1 coins before they are phased out on the 15th October.
On the 28th March the government introduced the new 12-sided £1 coin to reduce the cost of counterfeits to businesses and the taxpayer.
Approximately one in thirty round £1 coins in circulation are counterfeit.
Teresa Pearce MP said:
“Don’t forget to spend, deposit or donate all of your remaining old £1 coins by the 15th October.
After that date you won’t be able to use them, so get digging down the side of the sofa, check your pockets and make sure you aren’t caught out by the change!”
More information about the transition can be found at www.thenewpoundcoin.com
