From this Saturday (July 1), West Devon Council carparks will no longer be able to accept the old £1 coins.
Teignbridge District Council has a contract to count and bank the cash from the machines and transfer the West Devon takings back to West Devon Borough Council, covering Tavistock and Yelverton.
Teignbridge also counts and banks cash for Exeter City Council, in addition to dealing with its own income, so it is banking £45k in cash every day.
A council spokeswoman said: “The bank has said new and old pound coins must be separated, and, having explored options, Teignbridge has concluded that eliminating the old coins is the most cost-effective solution. To continue to accept the old coins would mean employing additional staff or replacing counting machinery, at a cost of £40k.”
At present, approximately 45% of £1 coins being counted are the ‘new’ style and it is expected that 80 percent of the £s in circulation will be new by the end of July this year.
Cllr Robert Sampson, lead councillor for commercial services at West Devon, has suggested that people consider using the Ringo service, which enables payment by mobile phone or tablet.
- Street bay meters are run by Devon Highways and for the time being, most of them will only take old coins, but a conversion programme is under way. The old coins are due to be phased out altogether by the end of October.