Telford council spends just over £4,000 in readiness for new £1 coin

The council has had to adapt car parking machines, and self service machines and libraries in readiness for the new coin.

The 12-sided coins, which resemble the old threepenny bit, will be in use from March 28.

In total the changes have cost the council £4,365, comprising of £220 on machines at the Southwater multi-storey car park, £2,565 on self-service machines at libraries, £630 at the car park off Hall Park Way by the Odeon and £950 on machines at Ironbridge and the Dark Lane car park.

The new pounds are being made at the Royal Mint in Llantrisant, South Wales, at a rate of three million per day. The coins have high-tech security features, including a hologram.

The old "round pound", which was introduced more than 30 years ago, will be in circulation alongside the new coin until it ceases to be legal tender on October 15.

People have been urged to return the old round pounds before they lose their legal tender status. They can either spend them, or bank them. Over 70 million £1 coins are thought to be stashed away in piggy banks, purses and jars.