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New pound coins


Moghrey Mie
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The UK round pounds will stop being legal tender in IOM at same time as in UK. Banks will still let you credit them for some time. Manx round pounds will remain legal tender in IOM alongside the new uk dodecahedrons. Presumably uk visitors won't arrive with lots of 12 sided coins and will get manx round pounds in their change, just like we shall.

 

Simple sticky labels on all coin op machines " this machine does not accept the new 12 sided £1 coin" should solve the problem

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Oh lets change the money, give the people 2 years to trade in their old money then write it off like shops do with gift tokens. It's theft.

how many pound coins do you have?

 

 

Right now? I don't know, possibly 2 or 4 but but but there maybe some in bags, pockets or drawers that I do not know about right now. My mum had some crazy amount of Bulgarian currency hidden (seriously crazy) I don't think we will ever be able to trade that in - although, to be fair, I haven't tried and it is a fair whack so maybe I should next time I'm there. ETA - it's all ok, curiosity got the better of me so I did a little research, I won't be taking the next flight in the morning the Levs were probably worth about £40.

Edited by thebees
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Just asked Treasury if they are going to do anything about the new coin and the answer is as follows:

 

"Thank you for your email.

 

We currently do not have any plans to move to the new 12 sided £1 coin but we will be monitoring, with interest, the introduction of them in the UK next year.

 

You may be aware that from April next year a new mint will be supply Isle of Man coins (https://www.gov.im/news/2016/aug/05/tower-mint-to-produce-isle-of-man-coins/)and we will be discussing future designs of all Manx coins with them.

 

Kind regards

 

Investment and Banking Section

Treasury Finance Division, Isle of Man Government"

 

 

 

 

Translated into the truth:

 

"Thank you for your email.

 

We didn't actually have a bloody clue about this, and in fact when our Doreen overheard the Treasury Minister mention whilst in the canteen queue we all thought he was taking the piss. However, having googled it after receiving your email and reading the Daily Mail article we can see it must be true. Fancy that!

 

Unfortunately, we have left it far too late to do anything about it now, so we will just have to sit this one out and hope it all works out, despite there being potential utter confusion amongst the more long-sighted of our citizens who will have little chance of distinguishing between a Manx round coin and the out of circulaton UK coin. But, I'm sure it will be fine once the new Mint has managed to bail us out in about two years from now.

 

Yours sincerely,

 

Mr Dave (worth every penny of my pension) Treasury person"

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Will the IOM go for this as well?

 

Even Shoprite trolleys will need to be updated.

 

Buy a token for the shopping trolley and problem solved.

 

Reducing the number of fake pound coins in circulation can only be a good thing.

 

I've got a token but it's round. Problem not solved.

 

 

So if everyone had a token then the trolleys don't need updating...

 

 

just hang on to a few pound coins and use as tokens, I haven't seen a charity token for less that a quid so they could be the cheapest option

 

Good idea. Used to live near a pub that had an old juke box that would only take a tanner for six plays. Solution? You bought a tanner for 50p at the bar. Problem solved.

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Treasury will take a hit when the uk returns all the manx pound coins

 

Who in UK is going to send them back?

 

Banks wont accept Manx £1 coins in UK, so they stay with the individuals. If some get into the banking system the banks cannot palm them off on the Bank of England, it wont take them. How much is it going to cost a UK bank to bundle up and deliver to IOM Bank to swap for UK notes? Not worth it

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Treasury will take a hit when the uk returns all the manx pound coins

 

Who in UK is going to send them back?

 

Banks wont accept Manx £1 coins in UK, so they stay with the individuals. If some get into the banking system the banks cannot palm them off on the Bank of England, it wont take them. How much is it going to cost a UK bank to bundle up and deliver to IOM Bank to swap for UK notes? Not worth it

 

there must be loads of manx £1 coins in uk parking meters !

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Treasury will take a hit when the uk returns all the manx pound coins

 

Who in UK is going to send them back?

 

Banks wont accept Manx £1 coins in UK, so they stay with the individuals. If some get into the banking system the banks cannot palm them off on the Bank of England, it wont take them. How much is it going to cost a UK bank to bundle up and deliver to IOM Bank to swap for UK notes? Not worth it

 

bank of england is going to return them according to the mint guy on daily politics a few months ago

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