Skegness area ‘ready’ for new £1 coin

The new one pound coin. ANL-170328-132420001
The new one pound coin. ANL-170328-132420001
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Visitors to the Skegness coast can expect to use the new £1 coin at arcades and the majority of car parks.

Preparations have been taking place for months to prepare for the issue of the new 12-sided coin, which has been introduced after the old round coin became increasingly vulnerable to counterfeiters - with one in 30 £1 coins in circulation fake, according to the Royal Mint.

Fantasy Island in Ingoldmells ANL-170328-132730001

Fantasy Island in Ingoldmells ANL-170328-132730001

The new coin is larger and thinner than the old one, measuring just 2.8mm in thickness. It is also lighter weighing just 8.75g but it is larger in diameter measuring 23.43mm across.

There is also a bold new design, which combines the English rose, Scottish thistle, Welsh leek and Northern Irish shamrock - all of which bloom from one stem within a royal coronet.

East Lindsey District Council has 67 meters at car parks across the district and 39 - mainly the ones along the coast - have been upgraded.

Visitors should look for a sticker on the meters which will confirm the upgrade. If it hasn’t been done then they can pay by phone.

We will be able to accept both new and old coins immediately across the site

Claire Draper, director of Finance at Fantasy Island in Ingoldmells

A spokesman said: “We expect to have them all done within two or three weeks but one of the companies we deal with also has meters to upgrade across the whole country which is why there is the delay.”

Arcades across the coast have also been upgrading their machines.

Claire Draper, director of Finance at Fantasy Island in Ingoldmells, said: “The new £1 coin has affected our entire site; from the car park machines, the cashiers accepting it at the POS and our arcade users to our back-office system which sorts all of our coins.

“The change has created a significant financial burden but as a business we understand and support the need to introduce new technology to combat fraud.

Skegness Pier. ANL-170328-132451001

Skegness Pier. ANL-170328-132451001

“From our customers point of view, all of the changes we have needed to make are complete and we will be able to accept both new and old coins immediately across the site, but we do wish to remind everyone that we will only be able to accept the old, round £1 coins until October 15 2017.”

Gabriella Wilkinson, of Skegness Pier, said: “Our team of technicians headed by Graham Fitton have been working throughout the winter to ensure that all of our slots are ready for the new one pound coin.

“The conversion has cost us approximately £20,000 with the main cost arising from a new counting machine.”