You need to spend your old round £1 coins today - but these businesses may still accept them after the deadline

Caitlin Morrison
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Old Pound Coin Sterling Ceases To Be Legal Tender on Sunday
You need to spend any old pound coins, pictured on the left (Source: Getty)

The final countdown for spending the old round pounds is on: you need to get rid of those coins by midnight.

The legal tender status of the round £1 coin will be withdrawn from 11.59pm today, Sunday 15 October 2017, meaning from this point shops and businesses will no longer accept these coins. You will, however, still be able to take them to your bank or donate them.

And some firms have said they will continue to accept the coins: Poundland will take them until 31 October, and the Post Office said customers will be able to deposit them into any of their usual high street bank accounts through any Post Office even after the spending deadline.

Meanwhile, Tesco is allowing shoppers to pay with the old pounds at tills and self-service machines for an extra week, and Aldi and Iceland will take them for two extra weeks.

The Royal Mint said it was replacing the round £1 coin for the first time in over thirty years because of its vulnerability to sophisticated counterfeiters.

"Approximately one in thirty round £1 coins in circulation is a counterfeit," the government body said.

"We introduced a new, highly secure coin on 28 March 2017 to reduce the costs of counterfeits to businesses and the taxpayer."

The Royal Mail also provided the following helpful warning on its website:

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