If you’ve a piggybank or coin jar, watch out – your £1 coins will soon be unspendable

Former_MSE_Andrea
Former_MSE_Andrea Former MSE Posts: 9,611
1,000 Posts Combo Breaker I've helped Parliament Rampant Recycler
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in Debt-free wannabe challenges
Hi everyone

Can you please share this blog with anyone you know who's saving £1 coins? Especially if you're doing the sealed pot challenge!

Thank you!

If you’ve a piggybank or coin jar, watch out – your £1 coins will soon be unspendable
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Comments

  • [Deleted User]
    [Deleted User] Posts: 0
    Tenth Anniversary 1,000 Posts Name Dropper I've been Money Tipped!
    Newbie
    I do have a wee piggy bank called Priscilla, she will be getting emptied as soon as they come out next month & cashed in at the bank.

    I have set myself a reminder cos otherwise I will forget.

    Dxxx
  • nickyotron
    nickyotron Forumite Posts: 376 Forumite
    Wheres the best place to cash it all in once filled? Anyone have a real cheap idea? I know some supermarkets have coin sorters. But their % was quite massive last time I cashed about £200+ from some jars..
  • Kim_13
    Kim_13 Forumite Posts: 2,037
    Ninth Anniversary 1,000 Posts Photogenic Combo Breaker
    Forumite
    Have separated out my coins and now have 17 I think in a piggy. Hoping I'll get to £20 to bank them as a full bag and then not get any others.
  • Westie983
    Westie983 Forumite, Ambassador Posts: 5,213
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
    Ambassador
    edited 6 March 2017 at 7:49PM
    MSE_Andrea wrote: »
    Hi everyone

    Can you please share this blog with anyone you know who's saving £1 coins? Especially if you're doing the sealed pot challenge!

    Thank you!

    If you’ve a piggybank or coin jar, watch out – your £1 coins will soon be unspendable

    Have shared on Sealed Challenge ~10 and Xmas 2017 £1 a Day,

    These are two challenges where £1 coins maybe being saved, that said there is not really an issue as banks will accept the old coins after October as long as you bank with them..

    I haven't shared on my own challenge (Virtual Sealed Pot) as I have already given them the heads up when I first heard of the changes.

    That said keep your nose to the grindstone for the changes to the £10 going polymer in the next few months

    Westie983
    I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected]. All views are my own and not the official line of MoneySaving Expert.
    Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%
    Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%
    Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%
    Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%
    £2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%
    The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%
    Total £4095.19/£7332.95 = 55.84%
  • Westie983
    Westie983 Forumite, Ambassador Posts: 5,213
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
    Ambassador
    nickyotron wrote: »
    Wheres the best place to cash it all in once filled? Anyone have a real cheap idea? I know some supermarkets have coin sorters. But their % was quite massive last time I cashed about £200+ from some jars..

    Your bank will accept them in bags of £20..

    If you are lucky to bank with Natwest/HSBC/Metro and your local store has a coin counter machine then use this as there is no percentage taken, which means every penny counts...

    Last time I used the coin counter in a supermarket the % cut was nearly 8%... SHOCKING!!!

    Westie983
    I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected]. All views are my own and not the official line of MoneySaving Expert.
    Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%
    Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%
    Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%
    Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%
    £2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%
    The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%
    Total £4095.19/£7332.95 = 55.84%
  • Jo_Blogs
    Jo_Blogs Forumite Posts: 753
    Debt-free and Proud! Mortgage-free Glee!
    Forumite
    Giving this thread a bump just incase some people are still not aware of the changes to £1 coins etc:)
    Saved Nitty Gritty £7440.75 [149%] / £5000-[Sep] £58.44:starmod: for the 'Save 12k in 2017' #157
    2017 Womble #35 £3463.27 ;)Sept NSDs 4/15:staradminCCCChl 9/12 months:D    Sept PPChl#002 Pts 71
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