Watford Borough Council will be counting the cost when the new pound coin comes into circulation later this month.

The new 12-sided coin will be introduced on March 28, with the current round version ceasing to be legal tender on October 15.

However businesses will stop accepting the old coins from the start of October.

SEE ALSO: This is when the current £1 coin ceases to be legal tender this year

Councils across the country have therefore been making modifications to their coin-operated parking meters in advance of the new coin coming into circulation.

For Watford, Dacorum and Three Rivers councils, the cost to make these changes to their 82 Pay and Display machines amount to nearly £20,000.

In a statement, the Watford Borough Council said: “We are fitting new coin selectors across all of our machines which will take both the current £1 coin until October 15 and the new £1 coin from the end of March.

“The cost incurred to upgrade 82 Pay and Display machines in Dacorum, Three Rivers and Watford will be £19,270.”