New pound costs council thousands

PUBLISHED: 15:00 07 April 2017

New 12-sided £1 coins in Liverpool which entered circulation - with early teething problems expected at coin-operated machines across the country. PRESS ASSOCIATION Photo. Picture date: Tuesday March 28, 2017. The new coin has been described as the most secure in the world and boasts high-tech features, including a hologram. See PA story MONEY Pound. Photo credit should read: Peter Byrne/PA Wire

New 12-sided £1 coins in Liverpool which entered circulation - with early teething problems expected at coin-operated machines across the country. PRESS ASSOCIATION Photo. Picture date: Tuesday March 28, 2017. The new coin has been described as the most secure in the world and boasts high-tech features, including a hologram. See PA story MONEY Pound. Photo credit should read: Peter Byrne/PA Wire

North Somerset Council spent thousands of pounds to get its parking meters up to scratch ahead of the release of the new pound coin.

The council forked out £7,452 to upgrade its 69 machines at a cost of £90 plus VAT each.

The new 12-sided pound coin first appeared in circulation on March 28.

Weston-super-Mare’s Grand Pier, which processes up to 20,000 per day, had to shell out £15,000 to update its 600 machines so they are compatible with the new coin.

With as many as 20,000 £1 coins being processed in a day during summer months at the Grand Pier, managers say it is essential that the transition runs smoothly.

The Grand Pier.The Grand Pier.

Tim Moyle, general manager at the Grand Pier, Weston-super-Mare, said: “The process has also involved running training sessions with staff so they know what the new £1 coin will look like and the key dates to be aware of during the transition period.

“It has been a bit of a mammoth task and the investment has been significant, but these changes are essential to the smooth running of the Grand Pier. It is hoped the new coin will limit counterfeiting, which is great for businesses.

“Our equipment will still accept the old coin until the end of the year, so customers will be able to use both new & old £1 coins, hopefully eliminating any issues.”


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