New £1 coin is costing Leeds a small fortune

The new 12-sided �1 coins
The new 12-sided �1 coins
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The introduction of the new £1 coin has cost Leeds City Council more than £40,000 in costs to convert car parking machines across the area.

A Freedom of Information (FoI) request has revealed that all 248 of the meters under the authority’s control can now accept the tender after work was carried out to the tune of £42,728 – the third highest sum in Yorkshire.

The new 12-sided �1 coin.

The new 12-sided �1 coin.

Additionally, 1,385 lockers at council-run leisure centres have been converted to take the new pound coin, with a further 1,137 in the process of being converted.

The cost of the lockers converted to date is £6,170 and £19,458 will be spent on those which need to be 
worked on.

The latter value is higher as the type of locks are more expensive, which has caused the delay in completion.

A spokesman for Leeds City Council said: “The introduction of the new £1 coins has meant that some adaptations have had to be made to coin operated council facilities.

“Whist this work does carry a cost, it is essential in ensuring customers can use the new coins to pay for parking or in lockers at our leisure centres.

“The new coin has also been designed to reduce the number of fake £1 coins in circulation.

“We would like to remind customers that the old, ‘round pound’ will cease to be legal tender on October 15.”

Wakefield Council had spent £9,520 converting parking machines for the coin by the time that the FoI response came back, with a £475 needed for the last five of the 110 meters.

The new 12-sided coin became legal tender on March 28 this year as its final model was decided after a ten-week public consultation.

After October 15, the old, round £1 coin can continue to be deposited into a customer’s account at most high street banks in the UK even after it ceases to be legal tender.