THE NEW £1 COIN

Lady using a vending machine as provided for by Automatic vending machine services in Swansea
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THE NEW £1 COIN

The £1 coin and what it means for the vending industry

THE NEW £1 COIN

What the new £1 coin means to you and your business in 2017.

The new £1 coin. This can have a severe effect on your vending machine and Automatic Merchandising can be the perfect solution for vending services Swansea, vending services Port Talbot and also when you get vending machine leasing.

 

On March 28, 2017 the new £1 coin had been released by U.K’s Royal Mint to help target current counterfeit problems, and old vending machines may not accept new coins because of its new design, the new £1 coin is 12-sided and it is thinner, its weight is lighter and slightly larger than the old one, It has Bimetallic, Latent Image, Micro-lettering, Milled edges and hidden high security feature to protect from counterfeiting which is a lot different from the old £1 coin, so coin drops needs to be changed to suit to old vending machines.

Current vending machine in South Wales owners may have to modify or upgrade the software of their machines to suit the new £1 coin.

Old £1 coins will be out of circulation by end of 2017, so as early as now spend your old coins before reaching the deadline of old coins, you can also bring it to your local bank or the bank of England in London to be exchanged by new £1 coin.

The £1 coin and what it means for the vending industry

What does this mean for my vending machines?

As with any re-coinage, all businesses that handle cash need to plan and prepare for the introduction of a new coin. This includes the us in the vending industry, and any mechanical or electronic machines that accept coins. We have already planned ahead for our current clients and can help you out too.

 

If you need some help on switch over or looking for a company that can be your ideal vending solution please get in contact with us today on 01639 888730 or visit our request contact form on our CONTACT PAGE.

 

Dan
Dan

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