Question re old £1 coins

Old Nov 27th, 2017, 01:07 PM
  #1  
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Question re old £1 coins

Hi,

I know they are no longer legal tender, but had read that for a time after they were withdrawn one could still deposit them in a personal UK bank account. Haven't been able to determine if that 'grace period' is still in effect. Anyone know if I bring the 18 or 20 £1 coins I have and give then to someone, will they be able to use them???

thanks, janis
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Old Nov 27th, 2017, 04:44 PM
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Janis - my understanding is that you can still exchange the old coin for new coin at any bank branch - so I would assume that someone could also deposit them into their account or certainly exchange them - but they can't be used anymore in retail etc.

I'm taking about 10 coins to exchange!
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Old Nov 27th, 2017, 09:12 PM
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>>that you can still exchange the old coin for new coin at any bank branch
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Old Nov 27th, 2017, 09:21 PM
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The answer seems to be that you might, but you might have to trail around a fair few places to ask. Those who were planning to be more generous about accepting them were only talking about a few weeks beyond the October deadline. You could try emailing the banks in the Lloyd's group to ask about their policy now.

https://www.theguardian.com/money/20...ere-spend-them
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Old Nov 28th, 2017, 12:28 AM
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I was in London the weekend prior to phase out of the old coins, and thankfully don't have any. I was, however, advised that banks don't entertain walk-ins / non-customers, so they cannot be exchanged by (returning) tourists over the counter. If you know a local UK resident willing to help, they can deposit the old £1 coins into their own account (which the bank will accept and credit) and give you equivalent currency.
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Old Nov 28th, 2017, 12:40 AM
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Thanks ANUJ. That was my understanding back in October but I haven't been able to find out if banks are still accepting them on deposit. Patrick's link says >>but they have different policies on how long . . .>and give you equivalent currency. . . .
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Old Nov 28th, 2017, 01:03 AM
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I spoke to a retailer recently and they told me they no longer accept old £1 coins and old paper £5 notes, as they are no longer legal tender. You can exchange any withdrawn notes at Bank of England indefinitely (in London; they don't take coins) and those with personal bank account can deposit into their account - but their bank won't just exchange them.
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Old Nov 28th, 2017, 01:18 AM
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You might consider giving them to a charity. One of the charity shops you see on most high streets may be happy for the donation if can deposit them into their account.

Found lots of hits with a Google search, including this paragraph from The Guardian:
"Can I give old £1 coins to charity?
Yes, you can continue to donate them to any charity for the foreseeable future, says the Royal Mint. Together with HM Treasury, the Royal Mint has officially partnered with Pudsey’s Round Pound Countdown campaign mentioned above, which aims to collect as many as possible before 17 November to help disadvantaged children and young people across the UK."
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Old Nov 28th, 2017, 05:12 AM
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I read there were millions still out there. I think I have about five. The five dollar note had a grace period and we got rid of those last trip. I like the donation campaign. I will bring for that. Janis, have you been lucky enough to get a Beatrix Potter 50 p? I kept my eye out for one but zero luck.
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Old Nov 28th, 2017, 05:38 AM
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I think you'll find in the UK finding a bank account with an attached bank is becoming more and more unusual. My nearest branch is now 16 miles away and the cost of fuel to drive there and back is about £1.

Charity or you could try the coin machines in Tesco or Sainsbury.
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Old Nov 28th, 2017, 06:02 AM
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If you aren't a resident of the UK, you would probably have trouble opening a bank account here anyway. I managed to spend all my old £1 coins before the deadline, but if I hadn't, would have been happy to give them to my favourite charity.
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Old Nov 28th, 2017, 08:54 AM
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Seems can always leave them as tips in hotels, restaurants if someone can change them in.

Good question - I have a ton of pound coins I could give someone going to Britain so am interested in answers.
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Old Nov 28th, 2017, 10:59 AM
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you could collect all the random £1 coins (I probably have a few...) and go to Isle of Man and spend them there?
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Old Nov 28th, 2017, 11:25 AM
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"Seems can always leave them as tips in hotels, restaurants if someone can change them in."

Only if you received bad service and never intend to go back to that hotel or restaurant again.
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Old Nov 28th, 2017, 11:36 AM
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Only if you received bad service and never intend to go back to that hotel or restaurant again>

Said on the premise that locals could take them to a bank or deposit them? And as an 'extra' nice tip perhaps. If locals can't do that that answers the question? And, if I give my 50 or so pound coins (I collect them but they are not worth much if de-monetized) to my brother who is going to London soon he will find no one that wants them except charities?

Better keep em here I guess?
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Old Nov 28th, 2017, 12:17 PM
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My guess is, leaving old £1 coins as a tip would be considered an insult. What's wrong with donating to charities?
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Old Nov 28th, 2017, 12:30 PM
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Again I was suggesting leaving them in addition to a real money tip not in lieu of it which I know would be an insult (or probably seen just as some dumb foreigner not knowing they are worthless?).

Charities are great but in my case I'd keep them as collector coins- if not a collector I'd yeh give them to charities of course unless I could find a way to spend them. But if spendable or exchangeable then no - no more to charities than say other in use coins I may have.
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Old Nov 28th, 2017, 01:11 PM
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I keep old coins and notes from my travels too. I even have an old Zimbabwe $1 note, which due to rampant inflation was worth about 100,000,000 Zim dollars before they finally abandoned the currency and replaced it with USD and ZAR.

"Again I was suggesting leaving them in addition to a real money tip not in lieu of it..."

I think that would be even worse. It would look like you were trying to pull a fast one by hiding the old money amongst the new.
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Old Nov 29th, 2017, 01:40 PM
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I’ve always liked the feel of those one pound coins. I guess they’re souvenirs now.
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Old Nov 29th, 2017, 01:47 PM
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I’ve always liked the feel of those one pound coins>

is it a pound because it weighs a pound or so it seems?
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