£1 coins first came into circulation on April 21st, 1983, but at midnight on Sunday 15th October 2017, the legal status of the round £1 coin will be withdrawn. That means from midnight Sunday 15th October, shops will no longer accept the round £1 coins.
The new £1 coin came into circulation March 28th 2017.
Remember to check the kids’ money boxes, your pockets andbags, and the stash of coins you’re holding on to for your Christmas Trip to the UK and move on to ‘plan B’ before 15thOctober.
It turns out that the round £1 coin is easily counterfeited by the determined, and according to the Royal Mint, one in thirty of the £1 coins in circulation is counterfeit.
And here is a document on how to recognise counterfeit£1 coins
And if you fancy a bit more history of the pound coin, check out this 4min
by Dr. Richard Kelleher of the Fitzwilliam Museum- University of Cambridge.