Change in currency
 

I'm slightly confused about the pending currency changes for the pound sterling. I'm headed to Ireland in a few weeks and understand the GBP is undergoing a few changes in mid-October. I've got about $50 (USD) worth of GBP and am wondering if it's worth converting it to EUR for my Ireland trip. I'll eventually head back to England but that's years away. If it's only the £1 coins that are affected, I won't bother. Thanks, all!!

The new £5 has been out for some time with the old one well gone. The new £1 coin is here and the old ones are being phased out and the new £10 comes in the Autumn.

No other changes are announced at this time as far as I'm aware

oh yes new £20 in 2020

Thanks, bilbo. I acquired my current batch of GBP last summer so it should be current. I'll probably just convert it to EUR.

If I have the old 5 GBP notes will the banks still change them?

Thanks Heimdall. Looks like I now have a reason to visit the BofE.

I should also be pointed out that when the UK comes crawling back to the European Union in 5 or 10 years, one of the rules of membership is the adoption of the euro as the (inter)national currency.

I = it

kerouac you are probably right, but as we know political negotiation is what the UE is all about ;-)

My wife recently took some of the previous design of £5 notes into a local bank, and they exchanged them without any problem.

"when the UK comes crawling back to the European Union in 5 or 10 years"

It won't because it won't leave. What will tip the argument is the realisation that if it does leave it'll have to accept the euro and Schengen and the job-destroying Commission lunacies.

The ONLY way we can keep these inanities at bay is not to leave, and so preserve our opt-outs.

Only Remainers are true Eurosceptics. Apparent Brexit obsessives are all EU sleepers.

OK -- related question. I probably have 12-15 old £1 coins and won't be back in the UK until after the Oct. cut off date - I'll probably be there the beginning of Dec. I've read that one can continue deposit them IF you have a UK bank account, which I don't.

Would it be 'kosher' to use the old £1 coins for tips (Yes - I said the 'T' word ;) ) Presumably most folks I'd be tipping would have bank accounts so they could deposit the £ - right?

Janisj, your plan sounds like a good possibility.

Another choice would be to make use of the "Change for Good" envelopes on planes. They handle so much varied currency, there's no doubt they could work it out.

>>Another choice would be to make use of the "Change for Good" envelopes on planes.<<

I always do that but this is <i>real</i> money :) . . . probably close to $20 worth.

<<Would it be 'kosher' to use the old £1 coins for tips >>

I'd find that insulting and inconvenient. Like, I'm not worth proper money so I'm giving you out of date coins. Just plain rude.

janisj, I know you know British well, I would phrase is "probably not", :-)

however, you will find charities will get extended exceptions from the Bank.

Just to add to what I said, I was doing a show in Edinburgh that relied on bucket donations. Someone gave me an old fiver and it felt like they specifically chose to give me an out of date note as a comment on my performance. I think many waiters would read it the same way. And besides there are all sorts of reasons why they might not want to take tips to the bank....

Janisj, it is possible that some banks will be willing to exchange old £1 coins from non account holders, so it's worth a try. If they have to send back to the BoE old coins from their account holders, it wouldn't be much of a problem to send a few more. Even if you get a "no" from the first bank you ask, a second or third may say "yes".

I would also look at my change closely every time I shop, just in case someone tries to slip you an old coin.

I am always surprised that visitors to Britain will leave donations in their home currency in the collecting box at churches and other free attractions. However, I remember being asked by a member of staff at a Washington D.C. hotel if I could change some pounds coins into U.S. money for him, so it works both ways.

There are still so many old £1 coins in circulation that I would not be surprised if the deadline was extended.