Charity collection tins are too small to accept new coin and can’t be changed until after Brexit
Charities in the UK are facing a funding crisis all because of the size of the new £1 coin.
The 12-sided coin, which came into circulation last Tuesday, has been hailed as the world’s hardest coin to forge but TFN can reveal it is set to cost charities a fortune in missed donations.
At 23.43mm its diameter is significantly wider than the old coin making it too large to fit in the slots of standard donation tins (pictured above).
The oversight emerged the day before the new coin launched after several large charities held a focus group in Edinburgh at which members of the public were asked to try slotting tap washers, the nearest readily available thing similar in size to the new coin, into collection boxes.
The experiment was said to have been abandoned after one frustrated senior executive threw one of the donation tins through a window of top floor office onto the busy street below.
Charities from small local community groups to large national organisations regularly leave such collection tins in shops and supermarket tills, collecting the sector a significant chunk of money in the process.
It was originally expected that charities would simply widen the gap of their collection tins but it turns out European laws restrict the openings to 23mm – just slightly smaller than the new coin.
However when Brexit finally happens it is expected that the ruling will be scrapped and charities will rush to manufacturers creating a mini boon for the donation tin manufacturing industry in the process.
A fundraising expert told TFN that there was no real way of knowing how much charities would lose out on in the meantime but if even just half of UK residents found themselves unable to donate then that could lead to a £32m loss for the sector.
April Amadain, from the Fundraising Office Of London, said: “We are aware of similar problems in supermarkets where the old pound coin was used to unlock trolleys. Vending machine and parking meters are also becoming more difficult to use.
“It seems such a silly thing to happen that you would almost believe it is not true.
“But charities shouldn’t be punished for something they have no control over and this can't be allowed to go on.
“Perhaps people could donate five 20p pieces instead though until a better solution is found?"
A statement from the Royal Mint, who issued the new coin, is not expected today but might be available by tomorrow (April 2).
