NOW OPEN: the MSE Forum 'Ask An Expert' event. This time we'd like your questions on TRAVEL & HOLIDAY DEALS. Post by Wed and deals expert MSE Oli will answer as many as he can.

Almost 170 million old £1 coins still missing - here's what to do with yours - MSE News

Almost 170 million old £1 coins have yet to be returned to the Royal Mint nearly nine months after they went out of circulation - here's what to do if you find a stash...
Read the full story:
'Almost 170 million old £1 coins still missing - here's what to do with yours'
OfficialStamp.gif
Click reply below to discuss. If you haven’t already, join the forum to reply.
Read the latest MSE News
Flag up a news story: [email protected]
Get the Free MoneySavingExpert Money Tips E-mail
«1

Replies

  • eskbankereskbanker Forumite
    26.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    I have an old £1 coin - what should I do?

    The Royal Mint recommends that if you have an old £1 coin, you go directly to your bank to exchange it.

    Specific arrangements vary from bank to bank, but the Royal Mint says RBS, NatWest, Ulster Bank, HSBC, Barclays, Lloyds, Santander, Nationwide, Clydesdale, Yorkshire Bank, Halifax, Bank of Scotland and The Post Office are still accepting deposits from their own customers.
    Seems pointless to me only to ask Royal Mint for their input ('nothing to do with us, try your bank') without actually checking with banks and Post Office for their current policies!

    Surely it wouldn't be too onerous for a financial website's researchers to contact some banks' press offices and get some concrete information about what their actual policies really are, rather than what the coin manufacturer thinks they are, especially given anecdotal tales on here of people having difficulties getting rid of these....
  • ThrugelmirThrugelmir Forumite
    89.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    Wonder how many returned home with tourists. We've still odd coins and notes dating back pre Eurozone days.
  • GaleSF63GaleSF63 Forumite
    1.5K Posts
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    Forumite
    That is about 3 per person age 10 or more. It's not really that many in those terms. I certainly wouldn't be surprised if there were at least 3 lying around my home somewhere.
  • CaddymanCaddyman Forumite
    342 Posts
    Tenth Anniversary 100 Posts Combo Breaker
    Personally, I'd rather return to £1 notes, even in the new 'plastic' format. I remember the days when I'd purposely stuff my wallet with £1 notes just so I could feel like I had loads of dosh on me. I haven't been a fan of one pound coins since they introduced the things all those years ago.
  • eskbankereskbanker Forumite
    26.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    Caddyman wrote: »
    Personally, I'd rather return to £1 notes, even in the new 'plastic' format. I remember the days when I'd purposely stuff my wallet with £1 notes just so I could feel like I had loads of dosh on me. I haven't been a fan of one pound coins since they introduced the things all those years ago.
    Seems somewhat unlikely that your wish will be granted, not least because in real terms a fiver is now worth only just over double what a pound was when the coins came in 35 years ago, so it's only a matter of time before £5 notes go the same way....
  • If Royal Mint reckon there are 170M missing, a better estimate of what's down the baack of sofas and in jam jars might be that there are between 210M and 240M coins out there because 20% to 30% are probably fake.

    I have maybe 300 of which I am guessing 50 might be fake because they don't look very nice. The other 250 are probably collectable.

    Should I hand in the 50 to the bank or would that be bad form? :A
  • KatiehoundKatiehound Forumite
    7K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Forumite
    well now it's 170 million minus one! because I found a round pound in my car last week concealed in the hidey hole for loose change under some10 pences etc kept there for parking charges.
    It went straight to Halifax and was exchanged for a shiny new one.
    Worry over!!!
    Being polite and pleasant doesn't cost anything!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks
    -Stash busting: 337 in 2022 Stash busting: in 2023. 23 doggy duvets, 24 shopping bags, 9 dog coats, 2 scrunchies, 6 mittens, 6 bootees, 8 glass cases, 2 A6 notebooks, 12 cards = total 92 ...£3.98 spent
  • I suspect Spreadsheet Phil has already banked that towards the Brexit Dividend.
    Ethical moneysaver
  • Thrugelmir wrote: »
    Wonder how many returned home with tourists. We've still odd coins and notes dating back pre Eurozone days.

    Yeah we went out for a meal with an American friend of a friend a year or so ago and her contribution to the tip was a defunct fiver from the bottom of her purse. That won't do nicely!
    Ethical moneysaver
  • And for what its worth I am open to offers for my two 1988 $1 Zimbabwean Dollar notes (rate of USD 1: 12 Zimbabwean at the time)
    Ethical moneysaver
This discussion has been closed.
Latest MSE News and Guides

Energy Price Cap change

Martin Lewis on what it means for you

MSE News

Best £1 you've ever spent?

Share your most impressive bargains

MSE Forum