£5 Commemorative Coins

greyteam1959

I have quite a few £5 Commemorative Coins, you know the Charles & Diana sort of things.
I read somewhere that if you take then to a bank they will pay them into your account as £5.
Anybody know if this is fact or fiction ???
Does it have to be a main bank not a branch ??

opinions4u

You might get a funny look and a cashier nipping away to check with a supervisor, but bank branches can accept them as a deposit.

Or see if you can get more on eBay.

greyteam1959

They are at 99p on ebay !!!!!!!
Thanks for the info tho

DreamerV

mervyn11 wrote: »

They are at 99p on ebay !!!!!!!
Thanks for the info tho

Why would anybody sell them for 99p online if they can deposit them as £5. Guessing you can't spend these coins in shops, etc.

*confused*

EarthBoy

Banks can accept then, but they aren't obliged to do so, so I'd ring and ask first.

I think the Royal Mint will exchange them for the face value, but you will have the expense of sending them to the Royal Mint.

greyteam1959

lippy1923 wrote: »

Most banks should accept them. I'm not clued up as to which coins, but some are only worth £0.25 now. I think as long as it states somewhere on the coin the words "five pounds" then you should be fine.

Ahhh now that might be the snag then.....it does not give a value on the coins.....

pqrdef

Crowns minted before 1990 (eg Charles & Diana) had a face value of 25p.

madgagoo

Correct, anything pre 1990 is worth 25p. Anything post 1990 AND that says five pounds on it, is worth.... £5.

Any clearing bank should change them or pay them in for you (assuming you hold an account with them).

greyteam1959

Sigh.........
None of mine have the words £5 on them.
Shove then back in a drawer again.
Thanks to everyone who replied to my query.

Ben8282

pqrdef wrote: »

Crowns minted before 1990 (eg Charles & Diana) had a face value of 25p.

Well yes, 1 crown = 5 shillings = 25p

OP. Why do you think your crowns are worth £5?

scragend

Ben8282 wrote: »

Well yes, 1 crown = 5 shillings = 25p

OP. Why do you think your crowns are worth £5?

Because in 1990, the crown was "re-tariffed" to £5. This might have caused the misunderstanding. The change only relates to coins minted after 1990 though, it's not retrospective.