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Coins - what to do with them?

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  • Early ones made from bronze, post 1992 copper plated steel; lol not pure copper!
  • patman99
    patman99 Posts: 8,532 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Photogenic
    Ahhh, I remember the Royal Mint saying something about switching the materials used to make a 1p due to the original materials costing more than the coin was worth.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £13.74/ £1000 (that's 1.374%)

    3-6 month EF £0/£3600 (that's 0 days worth)

  • Well, and I'm not suggesting you do this, but I used a small jar of change to pay for my shopping using those self service tills and then transferred the money to adebt that I want saving the coins for.

    Tbh I don't think you need an account with Natwest to using their machine; the machine counts the coins you take the printout slip after it has counted them and then you're given the choice of having the cash or added to your account.

    I'd be wary of this. I can't imagine a bank would let non-customers use their machines for free if they weren't paying in to a customer's account.
  • I opened an savings account with Natwest specifically so that I could pay in coins during their coin sorting machine, I then just transfer it as appropriate.
  • If you have a child/grandchild, you could get them to sort the coins into £1 bags and take them to the bank, as others have suggested, with perhaps a 10% sorter's fee?


    If not I would just take it to a Coinstar for convenience (but I am lazy!).
  • chunkytfg
    chunkytfg Posts: 850 Forumite
    Part of the Furniture 500 Posts
    I separate my coins into 20p and larger denominations and 10p and smaller and then put them in separate jars.

    The 20p+ jar is small and gets constantly counted so once I have 5 bags they are taken to the bank and deposited into my savings account and the less than 10p jar once full which takes about a year gets taken to a coin counting machine at my local supermarket.
    Those who risk nothing, Do nothing, achieve nothing, become nothing
    MFW #63 £0/£500
  • I save £2 coins, 5p, 2p & 1P coins.
    The £2 coins are in an old marshmallow container & have just over £800. This is being saved towards a new hall & lounge carpet. (nearly there)
    The others have about £70 collected. This goes towards holiday currency.


    Because I don't get many £2 coins I don't notice them missing from my purse & the others are heavy. But it's nice saving for something as opposed to just going back into household spending.
  • Barryfan
    Barryfan Posts: 67 Forumite
    Perhaps I'm a little sad, but I enjoy emptying my collecting jars/tins, counting out what I've got, then bagging it up to take to the bank. At the end of each week I empty my purse and collect 5p, 10p, 20p and 50p coins. (50p go into a gallon whiskey bottle - last count - £150) Every so often I then count them all up, pay them into my current account, and then transfer them to a savings account/ISA etc. I don't miss the coins and this can add up quite quickly.
  • MitziB
    MitziB Posts: 56 Forumite
    pippinpuss wrote: »
    I save £2 coins, 5p, 2p & 1P coins.
    The £2 coins are in an old marshmallow container & have just over £800. This is being saved towards a new hall & lounge carpet. (nearly there)
    The others have about £70 collected. This goes towards holiday currency.


    Fantastic amounts, well done:T

    You didn't mention what you are going to do with them though. I have a vision of you staggering to the carpet shop with your containers of coins:rotfl:. Sorry.

    Wouldn't it be easier to bank/change them in manageable amounts? You could then set up a designated savings account to transfer the money into and possibly gain a bit of interest too;)
  • HugS
    HugS Posts: 3 Newbie
    We have two little banks. At the end of each day our "brown" coins go into the brown piggy bank and the "white" coins (20p or less) go into the round white one. When either feels full, I know it's ready to bag. the money goes into an old current account I use only for this purpose. Every time we reach £100 I buy another slice of Premium Bonds. We get £200 - £300 this way. We don't miss the "schrapnel" and so far this year we have won 5 x £25 which in the current interest climate is a pretty good return. I would NEVER use one of those sorting machine, I think their rate is extortionate for the effort needed.
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