In August, we explained the plans that the Royal Mint had to change the 5p and 10p coins and we urged members to get behind the campaign to protect our industry by writing to David Cameron. This change in coinage will save the Royal Mint around £7.5 million but it will cost our industry an extra £42m.
Last month Jonathan Hilder successfully secured a meeting with Andrew Mills, Director of Circulation. The Mint has now acknowledged the burdens placed on our industry and they have agreed to meeting with the Treasury and the AVA on November 4. They have also agreed to a commercial meeting with all the interested parties; the Police (for counterfeits), the Payments Council, the Mint themselves, the AVA and others such as the British Parking Association.
We already have confirmation from the Mint that they have obtained legal advice from the Treasury; there is no legal requirement for vending machines, or any machine that takes coins, to be able to accept the new coins when they become legal tender on January 1 2011.
So what now? We have been advised that the new coins will not be in circulation until April 2011. Samples of the new coins are with the coin mechanism manufacturers for testing. The new coins will be 11% thicker than the old ones and for the first time they will be magnetic.
This will mean at least software changes to all the newer mechanisms and re calibration to the older mechanisms. We have been assured that all the coin mechanism manufacturers have the modifications in hand, please speak directly with your provider for further information.
AVA 2010 Diary AT A GLANCE
10 November – Ireland regional meeting
1 December – Board and members’ meeting in London
6 December – South West regional meeting
2011
11 January – Midlands regional meeting
8 February – South East regional meeting
2 March – Board and members’ meeting in Manchester
8 March – Northern regional meeting
12 April – Scottish regional meeting
10 May – South West regional meeting
1 June – Board and members’ meeting in the Midlands
15 & 16 June – AVEX, NEC, Birmingham
Full details of these events are available on the events page of the AVA website – www.ava-vending.co.uk or call 020 8661 1112
