£20 coin

Alwaysachoice

My children have been given £20 coins as Christmas gifts for the past two years.

Although described as 'legal tender' Santander bank will not accept them, and we have heard that they cannot be spent in shops.

Does anyone know how and where we can liquidate these assets?!
Thanks

tomtontom

http://blog.royalmint.com/are-20-pound-coins-legal-tender/

Zinger549

I believe these are commemorative coins and are meant as gifts. There was a story in the paper about a man trying to pay for his petrol at Tesco with some of these coins. They initially refused but afterwards they said they would tell the stores to accept them.

wealdroam

This thread may help you:

Royal Mint 20 pound coins

On the other hand, it may not.

SailorSam

Are they bringing out a £100 coin that is legal tender ?

https://forums.moneysavingexpert.com/discussion/5142641

Hintza

Try EBay might just squeek a turn.

Money_maker

What a lovely gift. I have some commemorative coins from when I was a child and wouldn't 'liquidate' these assets.

frank777

Have you tried taking your Legal Tender coin into any Bank, I think you will find it's not legal tender as we know it. Or maybe the Bank of England if you live in London and see what they say. If you find yourself in court and need to pay a debt, no problem.

Royal Mint - Small Print
However, while it is indeed legal tender, it has not been designed to be used as a circulating coin. This means that while you would be OK to use it in the settlement of a debt in court, for instance, your local shop or bank probably won’t accept it in trade for goods, as the mechanics and systems are not in place to enable that. The highest denomination coin in general circulation today remains the £2 coin, first introduced in 1998

Alwaysachoice

yes, my son has worked out he could get £18 if he sold one on ebay. He'd rather have £20!

Alwaysachoice

Thanks for all of the above replies.

Glad he's not having to pay a debt in court, but worthing knowing about!

Yes, a lovely gift, but not very useful to an impoverished student who'd 'rather have experiences than possessions' and wants to travel.

Alwaysachoice

Thanks especially to wealdroam for link to another thread with lots of info on this question.