New £1 Coin

[part-time-operator]

Has anyone managed to obtain the new £1 coin yet?

Responses are invited by 21 November and should be sent to:
Pound Coin Consultation
Debt and Reserves Management Team
HM Treasury
1 Horse Guards Road
SW1A 2HQ
Email: poundcoinconsultation@hmtreasury.gsi.gov.uk

According to the consultation docs they were going to announce the spec in "late 2014-early 2015" and that they would get samples to industry in "summer 2015"

[Siting Services]

As far as I know no exact dimensions have been confirmed, only that the size will be in between 22.5mm (current £1 coin dimensions) and 24.5mm.

I am sure the moment it is confirmed the plans will come into force and the appropriate action will be taken.

Barbara

[part-time-operator]

It's almost certain from the new shape and dimensions that we'll have to change coin mechs. Is that right? Do you know of anyone getting ready to make the new mechs?

[Siting Services]

Until the exact specification is confirmed, nothing can be done. The good thing though, once it is confirmed there will be ample time to get the new mechs (if required) put into manufacture and they will arrive in good time before the new coin comes into circulation. The current mechs do have some capacity for a change of coin which if the new dimensions fall within the capacity, then that will mean a simple coin carrier plate to be exchanged which will be relatively cheap, no different to changing the coin mech coin carrier to the Euro coin.

Barbara

[part-time-operator]

I guess it should be relatively simple to get the coin mechs made so we wouldn't be dependent on suppliers? Do you think a couple of larger operators could get together and get some made? I wouldn't want to be held to ransom on this, would leave a bad taste in the mouth and I think the disruption and cost will make a lot of operators sell up.

[Siting Services]

Getting your own coin mechanism produced/manufactured will cost a lot of money don't even think about it. How many components do you think are needed to manufacture one of them? Start taking one apart and you will see that there are quite a few and each part has to be precision engineered.

It's not in the suppliers interest to penalise their customers and they all know that prices have to be realistic otherwise the operators will leave the industry if priced out. I wouldn't worry about that, they are keen to help their customers and they are hoping little or no changes are needed as it will be a nightmare for them too!

Barbara

[dorsetvending]

I can see a small engineering firm shaping the existing coin mechs to a the new size for a price. You'd need a large enough batch and enough spare coin mechs to send to the firm whilst keeping your machines operating with the old pound coin holder.

[Siting Services]

I can see a small engineering firm shaping the existing coin mechs to a the new size for a price. You'd need a large enough batch and enough spare coin mechs to send to the firm whilst keeping your machines operating with the old pound coin holder.

If the coin was slightly larger in diameter then that would be a very easy job for them to do, but if the coin is thicker then that is a more difficult job. If they were to re-shape the existing coin carrier they would not need the whole mech, they would need just the coin carrier itself.

Barbara

[dorsetvending]

Very true Barbara

[Siting Services]

I know it's quite stressful for all operators at this time as none of us know if the coin mechs need changing or amending and to speculate is dangerous. I do know that the manufacturers and suppliers are going to help as much as they can and they are on the operator's side.

Barbara