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Vaultex Dagenham hosts Exchequer Secretary to the Treasury

Vaultex’s Dagenham coin site has hosted a visit from the Exchequer Secretary to the Treasury, Andrew Jones MP, as part of a campaign to encourage businesses to separate old and new pound coins before sending them back.

The old pound coin will be demonetised on October 15th, after which it can no longer be spent in shops.

Vaultex, which has returned over 300 million old pound coins to the Royal Mint to date, has invested in equipment and people to help separate the new coins from the old. However, with less than two months remaining, this can be a time consuming process.

Andrew Jones said: “There has been a fantastic effort from both the public and businesses in returning more than one billion old round pounds, and I thank everybody involved in this process so far. But there is still more to do before the October 15 deadline.

“Businesses must remain vigilant when returning coins and ensure old and new coins are organised in separate packaging to make the sorting process quicker and easier.

“We also want cashiers and shopkeepers working at till points, who are truly on the front line of the changeover, to play their part to ensure only new pound coins are given to shoppers in their change.”