Kids to lose £92m in old pound coins, warns Smyths Toys

Kids are set to suffer a huge loss next month, when the old pound coin will go out of circulation.

According to research commissioned by Smyths Toys, over half (53 per cent) of parents with children aged from four to 14 say their children have five or more old pound coins sitting in their piggybank.

With around 18.5 million under 16 year olds in the UK, this amounts to over 92 million old pound coins that are set to go out of circulation.

Once October 15th hits, these pound coins will no longer be used and will be declined in retail outlets across the UK.

Findings also revealed that 24 per cent of adults did not know that the £1 coins would be worthless after 15th October, with a third (37 per cent) of parents saying that their child does not know either.

With the impending deadline just around the corner, now is the time for little ones and parents to use up their loose change or risk losing all of their hard-earned coins. 

About Robert Hutchins

Robert Hutchins is the editor of ToyNews and its sister title, Licensing.biz. He has worked his way from Staff Writer to Editor across the two titles, having spent almost eight years with both and what now seems like a lifetime surrounded by toys. You can contact him by emailing robert.hutchins@bizmedia.co.uk or calling him on 0203 143 8780 You can even follow him on Twitter @RobGHutchins if ranting is your thing...

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