New one pound coin released into circulation

The new pound coin, described as the most secure in the world, is being introduced to combat counterfeiting. It features advanced security elements like micro-lettering and a holographic image. However, this change poses significant challenges for businesses, especially those with vending machines, as they face high conversion costs. The transition affects not only vending machines but also parking meters and shopping trolleys. Despite these challenges, the Treasury claims the process has been smooth, with businesses adapting well. The old coin will remain legal tender until October 15th.

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