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Demise of the round pound

If you have been saving round pound coins in a jar like we have, you better make sure you have spent or taken them to the bank before October, otherwise they will no longer be worth anything!

The round pound is being replaced by a 12-sided version on 28th March and will eventually become totally obsolete. Shops will stop accepting them from 15th October although some banks have said they will still accept them from their own customers after that.

While we are talking currency – the paper fiver is also doomed! It has a withdrawal date of 5th  May, so make sure you have spent or exchanged those too.

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Magenta Financial Planning
Magenta Financial Planning
Suite 1, Nolton Court, Nolton Street, Bridgend. CF31 1BX
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Magenta Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales number 10055304.

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