Britain’s old one-pound coin is being phased out completely Sunday but businesses complain they have been given too little time to switch to the new one and many are planning to defy the deadline.
Around 1.2 billion old round coins have been withdrawn from circulation but about 500 million are remaining with less than a week to go.
The Royal Mint, the official agency that makes the British currency, created the new coin in an attempt to combat fraud, with 3 percent of the old coins — or £45 million — deemed to be counterfeit.
The new piece, at 2.8 millimetres thick, will be thinner than its 3.15 mm predecessor, but will remain the thickest British coin in circulation.
Article source: http://www.dailystar.com.lb//Business/International/2017/Oct-10/422186-defiance-in-britain-over-new-1-coin-as-deadline-looms.ashx