Aldi and Iceland join retailers defying £1 coin cut-off

Both grocers said they would ignore the deadline of October 15 imposed by the Royal Mint and accept the old style £1 coins for two weeks after they cease being legal tender.

The pair join Poundland, the first retailer to flout the deadline by saying it would accept pound coins for a fortnight after the deadline, and Tesco, which will accept pound coins for a week after the deadline.

“It is very clear that hundreds of millions of the old coins remain in circulation just three days before the Royal Mint’s deadline”

Tarsem Dhaliwal, Iceland

Aldi said: “We’ve been ready to accept the new £1 coins since they first came into circulation in March. To make the transition as easy as possible for our customers, we will continue to accept the old £1 coins as payment across our stores until 31 October.”

Iceland group managing director Tarsem Dhaliwal said: “We have been ready to accept the new pound coins since they entered circulation in March and all our trolleys have been converted to accept both new and old style coins.

“However, it is very clear that hundreds of millions of the old coins remain in circulation just three days before the Royal Mint’s deadline. We are keen to help our customers by making it possible for them to spend them in our stores rather than having to take them to a bank.”

The Royal Mint and the Treasury said they wanted retailers to observe the deadline to avoid potential confusion over which shops were continuing to accept the coin after midnight on Sunday.