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Are Old round Pound Coins Still Legal

1 OCTOBRE 2022 by fpfadmin

We`ve included the full change checker`s list of the rarest old £1 coins below so you can see if any of your old bureaux de change exceed the face value. The « safest 12-sided 1-sided coin » went into circulation in March 2017, while the former 1-pound round coin lost its legal tender status in October 2017. Many high-quality offers simply come from people who are pressing their arms or who are themselves misinformed, so it`s up to you to do your research before selling or buying rare coins or banknotes. The headlines you read on coins and banknotes sold for £1,000 only happen if they are truly unique. a unique piece. With 145 million one-pound coins still missing, is it possible that you still have some? Over the past 30 years, the old round coin has become increasingly susceptible to counterfeiters – in fact, the Royal Mint says a £301 coin is counterfeit. According to the Ministry of Finance, the companies encouraged the government to announce a specific date for the end of the legal tender status of the old coins, instead of using them indefinitely in commerce. HSBC is pursuing « common sense » and while it offers essential counter services right now, if customers have these coins and have an essential need to trade, they will be able to do so. Some charities may still be able to put old coins into pounds wisely. If you have a charity in mind, visit their website or call them to ask if you can donate the coins. Some will send you an envelope to send. However, over the decades, more and more fake 1-pound coins entered the system, with the Royal Mint estimating that one in £30 1-pound coin was counterfeit. For enthusiasts, discover the latest round coins to mint, in the video below, published on December 16, 2015.

COLLECTOR John Taylor was stunned to discover that the center had completely fallen off one of his pieces. Customers can still exchange old coins and banknotes. Small amounts can be exchanged without going through a customer`s account, while larger amounts must be deposited into the account. It seems to be a lot of problems, why this change? The old round book was introduced in 1983 to replace the £1 paper note, which was relatively easy to counterfeit and had a very limited shelf life. Earlier this year, the Treasury confirmed that it would retain all current coin denominations. Given the erosion effects of inflation, a £1 coin sitting in a piggy bank since 1983 would be worth around 32 pence. A spokesman said: « We continue to accept coins and banknotes in our branches. However, to ensure we are adhering to government social distancing guidelines, we are asking members to continue to consider whether a visit to the store is essential at this time. A Royal Mint official said: « Our communication campaign encouraged the return of the old £1 coins when legal tender was removed. Customers can still bring old £1 coins to the store. If customers have a nominal amount, they can be exchanged for newer coins.

Larger amounts must be deposited into an account for verification purposes. There is room for industry discretion here. When is the end of the « round book »? The old coin ceases to be legal tender on October 15. From Monday 16 October, shops, bars, pubs, cafes and other outlets should stop giving them to you in change. The second problem that needs to be addressed is that of misinformation about values, which is hardly supported by many articles talking about parts offered for sale on sites like eBay and others with a huge price. Meanwhile, other dubious pieces, including an empty piece and those with missing parts, sold for up to £300. Exclusive figures from the Royal Mint for YourMoney.com show that the old £131 million coins have not yet been returned to the Royal Mint. MORE: Charities are calling on the public to donate old round books when a new £1 coin enters circulation M&G Investments has also calculated that if £1.1 had been placed in a cash savings account in 1983, it could now be worth around £1.33 in real terms. And if it had been invested in stocks and shares, its real value could now be around £11.66. Some of the parts – supposedly the safest in the world – appear cracked, deformed or have the missing middle. There is still 145 million old one-pound coins missing, although they were withdrawn from circulation as legal tender in October 2017. Several UK banks and post offices are taking similar approaches, continuing to accept round books as deposits, but as October approaches.

15 had encouraged many customers to receive their deposits before Sunday`s deadline. Neither banks nor post offices had announced a deadline by which they would no longer accept the old coins. Many charities are happy to accept the old £1 coins – check their website to see if you can send them via free mail or ask at your local charity shop. Round pieces in pounds are now past their expiration date, so keep your fingers crossed that you don`t have one lying around your home yet. Customers can still deposit or exchange old £1 coins. Under the current circumstances, banks that are part of the RBS Group advise people to come to branches only when they really need to. They do not advise emptying an old coin jar and coming to the store for this reason. The new 12-sided pound coin was launched in March 2017 and demonetized in October 2017. You can no longer spend the old ones in the shops. Here`s what you need to know when you realize you`re still in possession of it.

It confirms that the service is still available during the health crisis and that there are no limits. They added: « We expect there will be returns in the coming years when people find these pieces. » What should I do with my old parts? You can normally spend them until Sunday, but if you have a full exchange glass of them, it`s best to take them to your bank or post office to exchange for banknotes as long as they`re in 20-coin bags. At the beginning of the six-month transition period in March 2017, approximately 1.7 billion round 1-pound coins were in circulation. From Sunday, 15. October, at 11:59 p.m., the old coin is no longer legal tender, so retailers, restaurants, bars, etc. can refuse to accept it. However, as has been widely reported, a number of companies will continue to accept them even after the deadline. And various companies such as supermarkets and railway companies are struggling to reconfigure trolleys and ATMs to accept 12-page coins. Customers with a Santander chequing or savings account can deposit old £1 coins into their account at one of the branches.

You cannot exchange old coins for new ones at the counter. The old 1-pound coin stopped being put into circulation in October 2017 and was replaced with a thinner, lighter 12-sided coin. Old round coins are no longer legal tender and shops, restaurants and other retailers do not accept them. The old round pieces in books are available from midnight on Sunday, September 15. October, is no longer legal tender – but some shops are still ready to welcome them. Although more than 1.2 billion round coins have been exchanged in the past six months, Royal Mint officials estimate that obsolete coins worth around £500 million will remain in circulation. « The small portion of unreturned coins can still be deposited into a customer`s account at most major banks in the UK. » Customers can either use old £1 coins to deposit into their bank accounts or exchange them for new ones. Most coins are worth the value printed on them. He said he doesn`t expect that service to be taken down anytime soon (he`s still accepting the old 50p that were retired more than 20 years ago), but urges people to question whether a trip to a branch is essential at this time. What happens to all the old rooms? The old coins are taken to the Royal Mint in Wales, where they are loaded into large containers and spilled into huge ovens and melted. According to the Royal Mint, the 1-pound round coin can still be deposited in most high-street banks.

But there is already a lucrative online business in defective parts. Poundland, a discounter with more than 850 locations across the country, is accepting coins in payments until October 31. According to the Royal Mint, about 122 million « round pounds » have not yet found their way back to the Mint or deposited in a local bank. There is no minimum deposit amount, but the bank allows a maximum of six full bags of coins, which equates to £120 per day.