Cash for coins

antenna

Google "valuable pennies"

zerog

This is the ebay forum... sell them on ebay or bag them and bring them to HSBC / Natwest / Barclays yourself

If you are near to London (or Bradford!) then another option is to put them into Fourex, you get 96% of value, that's more than I would pay for them

Leftover Currency also takes them, but only at 75% which is rubbish

jeffuk

zerog wrote: »

This is the ebay forum... sell them on ebay or bag them and bring them to HSBC / Natwest / Barclays yourself

If you are near to London (or Bradford!) then another option is to put them into Fourex, you get 96% of value, that's more than I would pay for them

Leftover Currency also takes them, but only at 75% which is rubbish

"old pre decimal currency"

zerog

jeffuk wrote: »

"old pre decimal currency"

Hmm? All three options I mentioned accept pre-decimal coins.

forgotmyname

Their value is close to zero because the OP has listed them on ebay and not sold them?

zerog

forgotmyname wrote: »

Their value is close to zero because the OP has listed them on ebay and not sold them?

When did the OP say he tried to sell them on ebay?


The main problem and the reason why companies like Cash4coins pay peanuts, is that it takes a long time to count and sort them, and they are very heavy for the value. People have had nearly 50 years to remove any silver ones and basically you don't ever find any silver unless the lot has been untouched since WW2 - might as well just play the lottery.

A post-1947 3d coin is worth £0.0125 and weighs 6.8g. So you need 80 of them to make up a pound bag to pay into the bank, which weighs half a kilo.

If you employ someone in the UK to count and sort them, then you need to pay at least minimum wage plus all the other overheads. Realistically you can't do much more than 1000 coins per hour which barely breaks even on the costs of doing business. While companies like Cash4coins probably send them direct to the Royal Mint, smaller companies or sole traders have to go to the bank themselves and probably pay fees for business accounts.

So anybody willing to pay more than a nominal amount will either be counting them themselves or has a machine that does some of the work.

Another option is to ship them to China, where there are hundreds of workshops filled with people are counting and sorting low value coins from around the world, but enough of them turn up in scrap metal lots, that nobody is going pay for additional coins shipped in from richer countries. Also such companies are finding their business models being ruined by the reluctance of central banks to reimburse them for the coins - due to suspicion of counterfeiting.