New £1 Coin Time Bomb
Posted on March 10, 2017
The arrival of a new ‘super secure’ £1 coin is set to have a significant impact on thousands of payphones across the country.
Distributor Nimans, the exclusive UK supplier of Solitaire payphones, is warning resellers about the new design, being launched towards the end of March – ahead of the old version being discontinued later this year.
An estimated one in 30 current £1 coins is fake so the Royal Mint has created a new 12 sided version hailed as the most secure in the world.
All New Solitaire Payphones supplied since January last year will accept the revised £1 coin but existing models already on-site will need updating, points out Solitaire’s Managing Director Jeff Wilkes - who says many people are still unaware and unprepared for the new arrival.
“We estimate that from around 500,000 Solitaire payphones sold in the UK around 50,000 are still in service,” he explained. “The Royal Mint has confirmed the old pound will be discontinued on 15th October. So with around six months to go the countdown is well and truly on. Nimans and Solitaire are here to help. Some older units will need to be replaced but many others need updating either on-site or returned to us.”
Jeff concluded: “Demand for payphones remains strong in niche areas and the new £1 coin will have a big impact. Resellers need to be advising their customers now about how to adapt their existing machines before it’s too late. Calls and emails are coming in every day. The penny is starting to drop – or should that be the pound!”
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