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  • FIRST POST
    • MSE Karl
    • By MSE Karl 14th Feb 17, 2:34 PM
    • 69Posts
    • 21Thanks
    MSE Karl
    If you’ve a piggy bank or coin jar, watch out– your £1 coins will soon be unspendable
    • #1
    • 14th Feb 17, 2:34 PM
    If you’ve a piggy bank or coin jar, watch out– your £1 coins will soon be unspendable 14th Feb 17 at 2:34 PM
    'The new 12-sided £1 coin is being rolled out next month, and the current round version will stop being legal tender on 15 October. After that, if you still have any old £1 coins, you won’t be able to spend them...'

    Last edited by MSE Karl; 15-02-2017 at 4:02 PM.
Page 1
    • VfM4meplse
    • By VfM4meplse 14th Feb 17, 2:39 PM
    • 25,640 Posts
    • 54,367 Thanks
    VfM4meplse
    • #2
    • 14th Feb 17, 2:39 PM
    • #2
    • 14th Feb 17, 2:39 PM
    I make a point of buying coin trolley tokens from charity shops, these too will be redundant.
    Value-for-money-for-me-puhleeze!

    "No man is worth, crawling on the earth"- adapted from Bob Crewe and Bob Gaudio

    Hope is not a strategy ...A child is for life, not just 18 years....Don't get me started on the NHS, because you won't win...If in doubt, don't pull out... I love chaz-ing!
    • Farway
    • By Farway 14th Feb 17, 3:12 PM
    • 6,149 Posts
    • 9,729 Thanks
    Farway
    • #3
    • 14th Feb 17, 3:12 PM
    • #3
    • 14th Feb 17, 3:12 PM
    I make a point of buying coin trolley tokens from charity shops, these too will be redundant.
    Originally posted by VfM4meplse
    I reckon the trollies will be modified to take the new £ coins, so the old tokens will be of no use except as collector items
    • JackieO
    • By JackieO 14th Feb 17, 3:40 PM
    • 15,894 Posts
    • 134,730 Thanks
    JackieO
    • #4
    • 14th Feb 17, 3:40 PM
    • #4
    • 14th Feb 17, 3:40 PM
    haven't got the problem of a jar full of pound coins all of mine get spent
    Quot Libros,Quam Breve Tempus. 2018
    Running total for four months food only shopping =£126.24.Freezer stuff slowly going down at last May totals £31.11 freezer and tinned cupboards are going down nicely
    • LameWolf
    • By LameWolf 14th Feb 17, 4:21 PM
    • 10,482 Posts
    • 114,479 Thanks
    LameWolf
    • #5
    • 14th Feb 17, 4:21 PM
    • #5
    • 14th Feb 17, 4:21 PM
    We save any £2 coins we get in a tin, so will look out for these going the same way.
    LameWolf
    If your dog thinks you're the best, don't seek a second opinion.
    • frugalmacdugal
    • By frugalmacdugal 14th Feb 17, 4:46 PM
    • 6,247 Posts
    • 5,374 Thanks
    frugalmacdugal
    • #6
    • 14th Feb 17, 4:46 PM
    • #6
    • 14th Feb 17, 4:46 PM
    Hi,

    oh, like the style of new coin,



    just like the auld Scottish threepenny,

    Y'all take care now.
    • Prinzessilein
    • By Prinzessilein 14th Feb 17, 5:34 PM
    • 2,274 Posts
    • 10,555 Thanks
    Prinzessilein
    • #7
    • 14th Feb 17, 5:34 PM
    • #7
    • 14th Feb 17, 5:34 PM
    I remember the old threpenny bit (in England)...I used to get one in pocket money.

    I could buy a comic...a thirsty pak drink (Dandelion and Burdock please!)...a bag of penny mix up (no bubble gum please, mum doesn't let me have it!)...and a small pack of corn puff snacks...and STILL have a ha-penny left for the money box!

    You wouldn't get THAT value for a pound these days!

    As for pounds, I don't save them, they get spent!....if I DO have any left when the new coins come out I'm guessing the banks will swap them for me....although I am currently with the N&P so am changing banks (they are cancelling all current accounts grrrrrrrrrrrr!)
    • monnagran
    • By monnagran 14th Feb 17, 7:45 PM
    • 3,689 Posts
    • 48,796 Thanks
    monnagran
    • #8
    • 14th Feb 17, 7:45 PM
    • #8
    • 14th Feb 17, 7:45 PM
    Love the nostalgia of the old thrupenny bits.

    I had a bedsitter when I started teaching. It had a picture rail all round the room. I collected up every thrupenny bit that came my way and stood them around this picture rail. I got all round the room, and it was not a small one.

    Those threepenny bits paid for my wedding dress, headdress, veil and all the bridesmaids dresses.

    Ah! Memories.

    x
    I believe that friends are quiet angels
    Who lift us to our feet when our wings
    Have trouble remembering how to fly.
    • trailingspouse
    • By trailingspouse 14th Feb 17, 9:18 PM
    • 2,680 Posts
    • 4,342 Thanks
    trailingspouse
    • #9
    • 14th Feb 17, 9:18 PM
    • #9
    • 14th Feb 17, 9:18 PM
    You might not be able to spend them in the shops but you will be able to exchange them at banks for the new ones.
    • JackieO
    • By JackieO 15th Feb 17, 8:11 AM
    • 15,894 Posts
    • 134,730 Thanks
    JackieO
    I had 9d pocket money when I was a little girl more than my two brothers who had none and were expected to work to earn any cash (although as I got older I too used to do extra things to earn a few pennies My pocket money was blown on 6d for saturday morning cinema and 3d for a banana split palm toffee bar, guaranteed to remove most of your fillings at times.Sweet not long being off ration in 1954 buying a small bar of toffee was like winning the lottery
    Quot Libros,Quam Breve Tempus. 2018
    Running total for four months food only shopping =£126.24.Freezer stuff slowly going down at last May totals £31.11 freezer and tinned cupboards are going down nicely
    • usernameisvalid
    • By usernameisvalid 15th Feb 17, 8:49 AM
    • 284 Posts
    • 736 Thanks
    usernameisvalid
    We stopped saving the £1 coins last year when the new plastic fivers came out

    DH has made a 'money box' for them out of some Perspex he had lying around. It's basically a rectangular box with the thinnest slit to slide a fresh new fiver in

    No we aren't rich

    We both gave up smoking in January and now we put our smoking money in there in the way of fivers

    I'm planning a long haul holiday for next year, hopefully we will have the money saved to upgrade to BC by then
    • miller
    • By miller 15th Feb 17, 9:23 AM
    • 1,240 Posts
    • 433 Thanks
    miller
    It wouldn't be so bad if all the old ones disappeared on 28 March and there was a whole 6 months to offload/purge the old ones, but they wont will they?

    I got caught out when the tenner changed last time. I reckon I'll be as awkward as the shops will be and start refusing the old coins about a month before they can't be spent. I'll have 50ps or the new £1 coins instead of a trip to the bank thanks.
    Last edited by miller; 15-02-2017 at 9:26 AM. Reason: clarity
    • mj104
    • By mj104 16th Feb 17, 1:36 PM
    • 1 Posts
    • 0 Thanks
    mj104
    Reintroduce the £1 note
    Karl
    I’ve made a petition – will you sign it? And will you post it to all of your MSE subscribers please?
    If you go to the petition.parliament.uk website you will find it on there at
    petition.parliament.uk/petitions/182609/sponsors/
    My petition:
    Reintroduce the £1 note
    As a symbol of our Great Britain reintroduce the £1 note to symbolize our greatness after Brexit! The United States places great importance on the US Dollar bill and we should do the same with our £1 note. They should also be made in the same polymer as the new £5 note says the Bank of England.
    "The Bank of England periodically replaces notes to introduce the latest new security features and stay ahead of counterfeiters. It also means that we can feature new characters" It goes on to say "Polymer notes are also better for the environment. This is because they last longer and so we have to print fewer notes, which means less energy is used in manufacturing and cash transportation. When a polymer note has reached the end of its life it will be recycled into new plastic products"
    Regards

    mj104
    • DominicH
    • By DominicH 23rd Feb 17, 1:15 PM
    • 281 Posts
    • 208 Thanks
    DominicH
    Sorry, this is a bit of a hobby horse of mine, but the notion of "legal tender" has nothing directly to do with whether shops will accept particular coins or notes. Shops, and people engaging in any type of trade, can accept whatever they want in exchange for their goods. Coins and notes of any type, IOUs, cowrie shells, whatever.
    Legal tender is purely about what types and amounts of currency must be accepted in settlement of debts. That is, if the matter goes to court, the debtor can say "I offered to pay the debt in £5 notes" and, provided that £5 notes are legal tender for the amount in question, they will be deemed to have offered payment of the debt. If they tried to pay it with thousands of 1p coins, or indeed cowrie shells, the lender would have the legal case that no attempt to pay the debt was made.

    Coins worth less than £1 are already not legal tender except for very small debts, and no one worries about that.

    When you buy things in shops, there no debt (to the shop). You are paying for the thing before you receive it. Things like meals in restaurants, or haircuts, technically you receive the thing first, but you pay for it immediately.

    Of course, many shops may refuse to accept the old £1 coin in due course. But that's up to them.
    "Einstein never said most of the things attributed to him" - Mark Twain
    • miller
    • By miller 23rd Feb 17, 4:08 PM
    • 1,240 Posts
    • 433 Thanks
    miller
    Talking of fivers, there are still a lot of the old ones floating about and on the 5th May they will assume a pariah status. I am still receiving them in change, but will start refusing them well before the 5th May. Confirms my thought that "6 months" grace is definitely not long enough. It should be 12 months IMO.
    • thriftwizard
    • By thriftwizard 23rd Feb 17, 5:12 PM
    • 2,660 Posts
    • 33,276 Thanks
    thriftwizard
    Relevant to me, as a market trader; I have two "floats" stashed away, one of which is in more or less constant use & will probably "change out" more or less by itself. But the other only sees the light of day when we're doing stalls in more than one location, which doesn't happen often now, and I'd be in danger of finding my "float" - which counts as cash-at-hand - was suddenly worthless! So, many thanks, OP...
    Angie

    GC May 18 £326.16/£400
    Bulk-buy purse '18 £145.26/£250, pet & livestock food '18 £131.45/£300

    Money's just a substitute for time & talent...
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