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Isle of Man to keep the round pound

Monday, 6 February 2017

The Isle of Man will not be following suit this year when the United Kingdom introduces a new 12-sided one pound coin and phases out the round version, Treasury has confirmed.

The Manx round pound will continue to be legal tender here, alongside the new and old UK pound coins.

In the UK the new 12-sided coin is being introduced in March. From October the round pound will no longer be accepted in shops etc in the UK, but it will still be able to be exchanged by banks.

In the Isle of Man the new 12-sided UK coin will circulate alongside the round Manx pound and the round UK pound, with the latter being gradually repatriated to the UK.

Treasury says it will continue to monitor the situation and consider the introduction of a 12-sided Manx pound coin in the future.

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