Charity to coin it in during ‘Round up the Pound’ week
Caudwell Children, the Staffordshire based charity that provides practical and emotional support to disabled children and their families, is appealing to members of the public to donate their final ‘Round’ £1 pound coins to the charity after they cease to be legal tender, on Sunday October 15th, 2017.
The coins have been gradually phased out since March 28th, 2017, and will be officially replaced by the new 12-sided £1 coin, hailed as ‘the most secure coin in the world’, on Monday October 16th, 2017.
The change comes after it was identified that, in recent years, around one in every 30 £1 coins in people’s change has been fake.
Steffi Brown, from Caudwell Children, says the charity’s ‘Round up the Pound’ campaign will be a great way of disposing of any unwanted coins. As she explained: “About £1.3billion worth of coins are stored in change jars up and down the country, and the current £1 coin accounts for nearly a third of that.
“Whilst some of these will have been banked by the time the new coin is introduced, there will undoubtedly be thousands of £1 coins left, in jars, wallets and purses, that will be unable to be spent in shops, bars and restaurants.
“The only way to get your cash back will be to trade your coins in it at a bank, but this is only a temporary option. So we’re setting up a number of collection points, throughout Stoke-on-Trent, where people can deposit their unwanted coins and help to raise vital cash for disabled children across Staffordshire.”
The ‘Round up the Pound’ collection points will run from Monday 16th – Friday 20th October, 2017.
The first £1 coin was introduced in 1983 to replace the old £1 note and Chief Secretary to the Treasury, David Duke, said the new coin is a significant development: “This is a historic moment as it’s the first time we’ve introduced a new £1 coin since 1983.
“This one will be harder to counterfeit than ever before. Our message is clear; if you have a round pound coin sitting at home or in your wallet, you need to spend it or return it to your bank before October 15th, 2017.”
Steffi is urging members of the public to donate their coins to the charity. As she concluded: “By donating your unwanted old £1 pound coins you will help us to provide hospital and in-home family support, specialist mobility, sports and sensory equipment, fully supported family holidays for children with life-threatening conditions, activity days and life changing treatments and therapies to disabled children who live in Staffordshire.”
Members of the public can also send coins by post, or drop them off, at Caudwell Children’s HQ, Minton Hollins Building, Shelton Old Road, Stoke on Trent, ST4 7RY. Alternatively you can find your nearest collection point by emailing us here, or by calling 01782 600424.