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Why you might soon need to raid your children's piggy banks

Now might be a good time to sift through your kids' piggy banks
Now might be a good time to sift through your kids' piggy banks
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Cash ferreted away in piggy banks all over the country could soon be worthless.

This is when shops can start refusing your old £1 coins

Next month the 'old' one pound coin will no longer be legal tender and it is believed there could still be millions of them stored in children's piggy banks.

The new 12-sided coin came into circulation in March and you will only be able to use the old coins up until October 15.

A recent study indicated there could be nearly 100 million old pound coins hidden away in piggy banks across the UK.

The £1 coin has been dubbed "the most secure coin in the world" and boasts a number features designed to make it more difficult to counterfeit.

This includes a hidden high security feature built into the coin as well as micro-sized lettering inside both rims. T

There is also a hologram-like image that changes from a ‘£’ symbol to the number ‘1’ when the coin is seen from different angles.