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

Former_MSE_Callum

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...

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

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eskbanker

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....

Thrugelmir

Wonder how many returned home with tourists. We've still odd coins and notes dating back pre Eurozone days.

GaleSF63

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.

Caddyman

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.

eskbanker

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....

peterbaker

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

Katiehound

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!!!

realaledrinker

I suspect Spreadsheet Phil has already banked that towards the Brexit Dividend.

realaledrinker

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!

realaledrinker

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)