Paying in Old Pound Coins

Flobberchops

ValiantSon wrote: »

So the charity has to waste its time, money and resources dealing with the problem?

I was in a Cancer Research UK shop earlier today and they still have posters up asking for donations of round pounds. I think you may be overstating the perceived inconvenience of cash donations.

ValiantSon

Robin9 wrote: »

It is no problem to the Charities - they will find the right home, business, collector for just about anything.

You tell yourself that.

All of these things cost money and that is money that isn't spent on delivering the charity's primary objectives.

Adopting the approach advocated is selfish.

ValiantSon

Vortigern wrote: »

Charities seem happy to accept foreign coins as donations. Why would they object to donations of old pound coins? They are still worth £1.

My last remaining round pound lives in my car and is occasionally used as a trolley token.

They aren't worth one pound: they are no longer legal tender. Coins are not the same as notes, which will always be honoured by the Bank of England. The Royal Mint will not exchange coins.

ValiantSon

ellie99 wrote: »

Last week I got a charity request from Sightsavers (preventing children going blind in 3rd world countries).

They actually say they will take old pound coins, so I've sent mine there rather than bothering to go to the bank.

Flobberchops wrote: »

I was in a Cancer Research UK shop earlier today and they still have posters up asking for donations of round pounds. I think you may be overstating the perceived inconvenience of cash donations.

That's fine if the charity has asked for them, but it is not okay to just dump them on charities uninvited. Just because one or two charities might have schemes you shouldn't assume that all are happy with it.

DCFC79

Norfolk_Jim wrote: »

Does any bank still accept them? Cant find any info on Google

Try your own bank or banks.

Deru

Metro Bank and I'm sure most other banks are still accepting them..

Superscrooge

HSBC were still accepting old £1 coins last week

agrinnall

ValiantSon wrote: »

They aren't worth one pound...

They are worth one pound because that's what a bank that still takes them will give you in exchange.

takman

ValiantSon wrote: »

They aren't worth one pound: they are no longer legal tender. Coins are not the same as notes, which will always be honoured by the Bank of England. The Royal Mint will not exchange coins.

Legal tender isn't really relevant in these scenarios; 2p coins are only legal tender up to a 20p worth so you think people shouldn't give more than 20p worth of 2p's to charity?

ValiantSon

agrinnall wrote: »

They are worth one pound because that's what a bank that still takes them will give you in exchange.

No, that doesn't make them worth one pound. The clearing banks are continuing to accept them as a good will gesture to their customers. They are not legal tender, so they could refuse to take them if they chose. Try settling a debt with them and you would find that they may well be refused because they are no longer legal tender.