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  • FIRST POST
    • TheNewGuy
    • By TheNewGuy 21st Nov 15, 8:30 PM
    • 74Posts
    • 13Thanks
    TheNewGuy
    Where can I exchange Royal Mint coins?
    • #1
    • 21st Nov 15, 8:30 PM
    Where can I exchange Royal Mint coins? 21st Nov 15 at 8:30 PM
    Hi bit of an odd one.

    I got a £100 coin from a relative and I know this makes me seem really ungrateful but I rather deposit it into a savings account. Does anyone know which bank might take it?

    Thanks
Page 4
    • craig1123
    • By craig1123 28th Jul 16, 9:29 AM
    • 134 Posts
    • 56 Thanks
    craig1123
    Right, I'm confused by this one. The guy in the article purchased the coins from a credit card and intended to pay off the credit card bill - his debt - with the same coins. If the commemorative coins are indeed legal tender it shouldn't have been possible for his bank to refuse, surely? Since he was settling a debt and not purchasing goods or services.
    Originally posted by Flobberchops
    Its only legal tender for a court issued debt.
    • DigForVictory
    • By DigForVictory 28th Jul 16, 10:31 AM
    • 6,768 Posts
    • 17,922 Thanks
    DigForVictory
    The Royal Mint are both a solid useful service & a right bunch of shysters under the same brand.
    Speaking as someone who bought a few fancy coins without doing my due diligence & getting soundly bitten in the backside thereby.

    However, I have a very handsome wooden box to hold my embarrassingly overpriced tokens in, and now buy from Chard when I need a specific fancy coin. Having scrutinised the other internet sellers first! (You can *eventually* teach this idiot.)

    Fair play to them, RM do very very pretty advertising & since we trust them with the nuggets in the purse, it *almost* seems sensible to trust them with the pretties. Til you want something to pay the bills with & that's where the standard patterns pay off...
    • markcoyle52
    • By markcoyle52 18th Aug 16, 3:53 PM
    • 6 Posts
    • 1 Thanks
    markcoyle52
    I'd stick to bullion coins if I were you - no debate as to their value and any bullion dealer will happily pay the going rate for them.
    • jonesMUFCforever
    • By jonesMUFCforever 18th Aug 16, 6:48 PM
    • 23,747 Posts
    • 10,974 Thanks
    jonesMUFCforever
    I'd stick to bullion coins if I were you - no debate as to their value and any bullion dealer will happily pay the going rate for them.
    Originally posted by markcoyle52
    .......but you cannot take them to your local bank to exchange or pay debts.
    What goes around - comes around
    give lots and you will always receive lots
    • altyronnie
    • By altyronnie 20th Mar 17, 4:35 PM
    • 1 Posts
    • 0 Thanks
    altyronnie
    Royal Mint SCAM??
    Tried to cash in some commemorative coins we purchased over the past 30 years. Banks won't touch them! Possibility that Post Office will, but you might have to buy things with them at the post offices!!

    This feels like a real SCAM by the Royal Mint.

    Would be good if Martin Lewis could investigate.
    • jonesMUFCforever
    • By jonesMUFCforever 20th Mar 17, 6:56 PM
    • 23,747 Posts
    • 10,974 Thanks
    jonesMUFCforever
    Tried to cash in some commemorative coins we purchased over the past 30 years. Banks won't touch them! Possibility that Post Office will, but you might have to buy things with them at the post offices!!

    This feels like a real SCAM by the Royal Mint.

    Would be good if Martin Lewis could investigate.
    Originally posted by altyronnie
    What was the reason you have been collecting them?
    You could try Ebay or the like.

    Martin Lewis in between making tv programmes sold this site many years ago for millions in coins (not sure if he got any commemorative ones).
    What goes around - comes around
    give lots and you will always receive lots
    • DCFC79
    • By DCFC79 20th Mar 17, 7:02 PM
    • 29,359 Posts
    • 18,562 Thanks
    DCFC79
    Tried to cash in some commemorative coins we purchased over the past 30 years. Banks won't touch them! Possibility that Post Office will, but you might have to buy things with them at the post offices!!

    This feels like a real SCAM by the Royal Mint.

    Would be good if Martin Lewis could investigate.
    Originally posted by altyronnie
    Not a scam at all. No 1 forced you to get the coins, well maybe you were coerced into it.

    We had some that werent accepted at the banks nor could we use them in the shops so took them to a post office and opened up a savings account, annoying yes but in no way did call it a scam or cry wolf. You might have coins the Post Office wont touch so will have to find another way to get rid.

    What would you like Martin Lewis to do ? Hes not going to investigate if no 1 tells him too, hes not that clever, you will have to send him a tweet.
    Last edited by DCFC79; 20-03-2017 at 7:11 PM.
    Je Suis Charlie
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