Royal Mint withdraws the old pound coin: £450 million lost overnight
About £450 million has been lost overnight as old pound coins stopped being legal tender.
As of midnight on Sunday, hundreds of millions of round coins were replaced with the new 12-sided design launched in March.
Some stores, including Tesco, have promised to let people keep spending the old coin for a limited period, while banks and building societies also offered extra time to deposit.
It has now been estimated around 400 to 450 million old round coins were still languishing unspent in members of the public's purses, piggy banks, and sofa nooks.
People had been offloading their old coins at a rate of about 60 million a week in the lead up to Sunday night's deadline.
Some major stores have said they will give shoppers an extra window of opportunity to spend them.
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