The new 12-sided £1 coin came into circulation last week - but how much has it cost the councils, hospital and North Devon businesses to upgrade their machines?

What is the new £1 coin costing councils?What is the new £1 coin costing councils?

The new, 12-sided £1 coins are in circulation - but local councils will need tens-of-thousands of them to pay off bills to update their parking machines.

North Devon Council (NDC) and Torridge District Council (TDC) have had to spend a combined total of more than £14,000 to upgrade their parking meters to accept the new-shaped coin.

NDC has forked out £11,286 to update its 57 machines - despite the fact, earlier this year, its executive committee passed plans to spend a further £300,000 on new machines.

Torridge has also already upgraded its pay and display machines, in a 'relatively simple' operation at a cost of £3,000.

Sean Kearny, TDC parking services manager, said: "The council's pay and display machines were upgraded some weeks ago in preparation for the launch of the new coin and as a result already accept these."

Devon County Council (DCC) is expecting to spend £40,000 to update its on-street parking machines this year.

Local businesses have also been hit, with Braddicks Leisure in Westward Ho! set to spend £8,500 upgrading its amusement arcade machines.

Owner Rob Braddick said: "It's a very expensive operation to do which we have to absorb, and that doesn't include all the man hours to check every machine works and pays out correctly."

Northern Devon Healthcare Trust confirmed most of its parking machines did not need upgrading.

A spokeswoman said: "The car parking machines at North Devon District Hospital and Barnstaple Health Centre are already able to take the new pound coins and do not need to be upgraded.

"The car parking machine at Bideford Community Hospital requires a modification to allow it to accept the new pound coins; we do not know what the cost of this modification will be yet."

Ricky McCormack, NDC head of operational services, said the district council would be sourcing new parking machines for its car parks over the coming month.

He added: "The new machines will have the capability for credit and debit card transactions, Apple Pay and Vodaphone wallet and we hope to have them installed by the summer."