Demonetisation of the £1 coin kicks in on the 16th October 2017.
If you have kids saving £1 coins or a huge collection in a bottle thats been sat in an office or a room at home then you need to act now.
On March 28th the new 12 sided £1 coin is introduced. It is billed as being the most secure coin in the world.
The new coin has a number of features that make it much more difficult to counterfeit.
The current £1 coin is being replaced for the first time in over thirty years because of its vulnerability to sophisticated counterfeiters. Approximately one in thirty £1 coins in circulation is a counterfeit. That is why we are introducing a new, highly secure coin on 28 March 2017 to reduce the costs of counterfeits to businesses and the taxpayer.