The new £1 coin

The new £1 coin has been in circulation for some time, but the old version will soon cease to be legal tender

Iceland and Aldi have committed to accepting the old pound coin until the end of the month, two weeks after it ceases to become legal tender.

The frozen food chain and discounter are looking to capitalise on the “hundreds of millions of the old coins” that remain in circulation just three days before the 15 October deadline.

All branches of Aldi, Iceland and The Food Warehouse will continue to accept the former £1 coin until 31 October.

“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,” said Iceland Group MD Tarsem Dhaliwal.

“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,” he added. “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.

“So our message is: bring your old coins to Iceland and I’m sure you will be amazed at what you can buy for a pound!”