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Where can I exchange Royal Mint coins?
TheNewGuy_2
Posts: 74 Forumite
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
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
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Comments
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Never heard of such a coin.
EDIT: just learned about them.I am not a cat (But my friend is)0 -
If it is the recent Buck Palace or Big Ben coins then I am pretty sure that they are legal tender and presumably can be deposited the bank. There are a fair few for sale on e-bay for about £1000
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I wouldn't go near Ebay with a barge pole. It'd be all too easy for a coin to be "lost" in the post. I tried asking Santander but they refused so bit worried now. Any suggestions?0
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I wouldn't worry too much, it's 2oz of fine silver and unlikely to lose value, more likely to gain a little if you keep it mint in the pack. It's not something that banks would handle, perhaps a gold shop or such. Apparently the Royal Mint delivers them by Royal Mail 1st. Why not just hang on to it, unless you need the cash?I wouldn't go near Ebay with a barge pole. It'd be all too easy for a coin to be "lost" in the post. I tried asking Santander but they refused so bit worried now. Any suggestions?Evolution, not revolution0 -
Flugelhorn wrote: »If it is the recent Buck Palace or Big Ben coins then I am pretty sure that they are legal tender and presumably can be deposited the bank. There are a fair few for sale on e-bay for about £100
Banks will not touch them.0 -
jonesMUFCforever wrote: »Banks will not touch them.
Are they actually legal tender? If so I would think the banks have an obligation to accept them.I am not a cat (But my friend is)0 -
As far as I am aware they are legal tender.Total Mortgage OP £61,000Outstanding Mortgage £27,971Emergency Fund £62,100I AM NOW MORTGAGE NEUTRAL!!!! <<Sep-20>>0
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They are but banks have no obligation to accept them.As far as I am aware they are legal tender.
http://www.royalmint.com/aboutus/policies-and-guidelines/legal-tender-guidelines
http://www.thisismoney.co.uk/money/investing/article-3187116/Royal-Mint-issues-second-100-silver-coin-one-sold-11-days-good-investment-future.html0 -
They are but banks have no obligation to accept them.
http://www.royalmint.com/aboutus/policies-and-guidelines/legal-tender-guidelines
on what basis can they refuse?0 -
They are at liberty, as you are, to decide what to accept.
Have you read the link?0
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