£30,000 bill to convert Shropshire's ticket machines to new 12-sided £1 coin

Simon Jones, the Council's cabinet member for highways and transportation said that they were working closely with suppliers of their parking equipment to put the upgrades in place ahead of the changes on March 28.

"The conversion is expected to cost approximately £30,000," he added.

The new coin, designed by teenager David Pearce from Walsall in the West Midlands, will enter circulation on March 28, and by October 15 the traditional round coin will cease to be legal tender.

Telford & Wrekin Council doesn't have an official figure for the needed works, but said they were working with suppliers to make the necessary changes.

Russell Griffin, of Telford and Wrekin Council, said: "In some instances we don't control the machine but just rent the space that it occupies to the supplier of the machine, therefore it's very difficult to work out what the cost of conversion will be."

People are being urged to return the £1 coins before they lose their legal tender status. They can either spend them before October 15 or bank them.

Around £1.3 billion worth of coins are stored in savings jars across the country, and the current £1 coin accounts for nearly a third of these, the Government said.

The new £1 coin, which resembles the old threepenny bit, has been hailed as "the most secure coin in the world". It boasts several new security features, including a hologram.

Bosses at Telford Central railway station, run by London Midland, have been planning to upgrade their machines so that they are compatible with the new £1 coin since the release of the updated £5 note.

Francis Thomas, a spokesman for the company, said: "We are not expecting any problems with our ticket vending machines when the new coins are introduced later this year.

"We have been liaising with our machine suppliers since the plastic £5 notes were introduced to prepare for the new coins."

Arriva Trains Wales, which runs Shrewsbury train station, said plans to update machines for the new £1 coin are already in hand.

Claire Lillie, an Arriva spokeswoman, said: "Our retail team is aware that the new £1 will soon be in circulation and all our ticket vending machines will be calibrated accordingly."

Supermarket shoppers have also been reassured that they will have no problems unlocking trolleys when they pay a visit after October 15.

Cat Parkinson, of Tesco, said: "We have replaced the lock on our trolleys so our customers will not be affected when the new pound is introduced.

"The new coin slots will accept the old and new pound as well as existing trolley tokens."

Gareth Lundy, an Asda spokesman, said: "Customers will be able to use the new £1 coin in Asda trolleys when it comes into circulation in March.

"The current £1 coin and trolley tokens will also continue to be accepted."

Helen Dickinson, CEO of the British Retail Consortium, admitted that the changeover is a headache and said there will be a transition period during which some vending systems may only be able to accept the old coin.

She said: "Through the British Retail Consortium, most major UK retailers have been engaged in discussions and planning with the Royal Mint and Her Majesty's Treasury since the March 2014 announcement that a new pound coin would be introduced in 2017.

"Our aim is to ensure that the implementation of the new coin runs as smoothly as possible for our customers and staff."

James Lowman, CEO of the Association of Convenience Stories, said it was essential that retailers are prepared for the introduction of the new £1 coin, as the transition is likely to affect a number of areas of their business especially if they have coin-operated machines such as self-service tills in store.

While the introduction of the new coin offers logistical challenges and costs, it is hoped it will save retailers millions in the long run.

About one in every 30 £1 coins in people's change in recent years has been fake.

The new coin, with its 12 sides, will be far more difficult to fake, meaning the money handed over to shops can be safely banked as genuine.