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    • MrBo
    • By MrBo 14th Mar 18, 1:11 PM
    • 16Posts
    • 1Thanks
    MrBo
    5 coins?
    • #1
    • 14th Mar 18, 1:11 PM
    5 coins? 14th Mar 18 at 1:11 PM
    Hi,

    I have 15 in 5 coins. Do bank accept them still?

    I need to to take some 2 year ago and they took them fine. I went in today and they said they will not take them and you should try the post office. The post office will also not take them.
Page 1
    • sheramber
    • By sheramber 14th Mar 18, 1:35 PM
    • 4,670 Posts
    • 3,503 Thanks
    sheramber
    • #2
    • 14th Mar 18, 1:35 PM
    • #2
    • 14th Mar 18, 1:35 PM
    http://www.royalmintmuseum.org.uk/about-us/faqs/index.html

    Crowns are issued to mark special occasions rather than for use in general circulation. They are legal tender !!!8211; for 5 or 25p as described above !!!8211; but contrary to popular belief this does not mean that banks and retailers automatically have to accept them. Indeed you will probably find that most banks and retailers refuse. Please be aware, however, that the Post Office has agreed to exchange them for goods and services.

    It is our understanding that Coin Co International !!!8211; a private company !!!8211; is willing to exchange commemorative crowns at face value minus a small percentage.

    or sell on Ebay
    • davetrousers
    • By davetrousers 14th Mar 18, 1:38 PM
    • 5,607 Posts
    • 4,846 Thanks
    davetrousers
    • #3
    • 14th Mar 18, 1:38 PM
    • #3
    • 14th Mar 18, 1:38 PM
    5 coins? Are they commemorative coins?
    .....

    • MrBo
    • By MrBo 14th Mar 18, 2:01 PM
    • 16 Posts
    • 1 Thanks
    MrBo
    • #4
    • 14th Mar 18, 2:01 PM
    • #4
    • 14th Mar 18, 2:01 PM
    http://www.royalmintmuseum.org.uk/about-us/faqs/index.html

    Crowns are issued to mark special occasions rather than for use in general circulation. They are legal tender !!!8211; for 5 or 25p as described above !!!8211; but contrary to popular belief this does not mean that banks and retailers automatically have to accept them. Indeed you will probably find that most banks and retailers refuse. Please be aware, however, that the Post Office has agreed to exchange them for goods and services.

    It is our understanding that Coin Co International !!!8211; a private company !!!8211; is willing to exchange commemorative crowns at face value minus a small percentage.

    or sell on Ebay
    Originally posted by sheramber
    Thanks for the information. I will try and use them for postage etc.
    Most of got lucky the first time.

    5 coins? Are they commemorative coins?
    Originally posted by davetrousers
    Yes they are commemorative coins. One for 40th Anniversary Of Queens Coronation, one for europe and the last one for the Queens mother.
    • davetrousers
    • By davetrousers 14th Mar 18, 2:46 PM
    • 5,607 Posts
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    davetrousers
    • #5
    • 14th Mar 18, 2:46 PM
    • #5
    • 14th Mar 18, 2:46 PM
    Yes they are commemorative coins. One for 40th Anniversary Of Queens Coronation, one for europe and the last one for the Queens mother.
    Originally posted by MrBo
    Can't you sell them to a collector?
    .....

    • molerat
    • By molerat 14th Mar 18, 2:53 PM
    • 18,570 Posts
    • 12,725 Thanks
    molerat
    • #6
    • 14th Mar 18, 2:53 PM
    • #6
    • 14th Mar 18, 2:53 PM
    Are they actually UK as many are CI or Gibraltar.
    www.helpforheroes.org.uk/donations.html
    • MrBo
    • By MrBo 14th Mar 18, 4:34 PM
    • 16 Posts
    • 1 Thanks
    MrBo
    • #7
    • 14th Mar 18, 4:34 PM
    • #7
    • 14th Mar 18, 4:34 PM
    Can't you sell them to a collector?
    Originally posted by davetrousers
    Yes maybe but I might just pay for some postage from a different post office.

    Are they actually UK as many are CI or Gibraltar.
    Originally posted by molerat
    They are UK coins.
    • Flobberchops
    • By Flobberchops 14th Mar 18, 9:10 PM
    • 723 Posts
    • 523 Thanks
    Flobberchops
    • #8
    • 14th Mar 18, 9:10 PM
    • #8
    • 14th Mar 18, 9:10 PM
    They're legal tender - albeit not often accepted by businesses - and banks and especially the PO will tend to accept them in small numbers. I'm not sure why the places you tried are being so difficult about it.

    The good news is that if you have the patience to sell them on ebay they should all fetch over face value.
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
    • eskbanker
    • By eskbanker 15th Mar 18, 12:30 AM
    • 7,096 Posts
    • 7,522 Thanks
    eskbanker
    • #9
    • 15th Mar 18, 12:30 AM
    • #9
    • 15th Mar 18, 12:30 AM
    They're legal tender - albeit not often accepted by businesses - and banks and especially the PO will tend to accept them in small numbers. I'm not sure why the places you tried are being so difficult about it.
    Originally posted by Flobberchops
    Presumably because, as explained in post #2, "contrary to popular belief this [legal tender status] does not mean that banks and retailers automatically have to accept them", a distinction that always seems to have to be made multiple times on threads like this!

    Do you actually know of any banks that have a declared policy of accepting them?
    • Bobblehat
    • By Bobblehat 15th Mar 18, 10:53 AM
    • 120 Posts
    • 78 Thanks
    Bobblehat
    Due to local banks and POs becoming more and more reluctant to accept them over the years, I recently sold all my 5 coins on Gumtree at slightly more than face value.

    I also sold some 20 and 50 Silver coins that Royal Mint sell that contain far less silver content than their value suggests! Again, I managed to get a little over face value for them via Gumtree and was relieved to have got rid of them!
    • LeeUK
    • By LeeUK 15th Mar 18, 6:20 PM
    • 5,937 Posts
    • 2,708 Thanks
    LeeUK
    Why do people even buy commemorative coins? Do they still believe thats they will be worths in the future?

    Inherited a collection spanning 50+ years and they are worth nothing more than face value. All readily available from coin sellers and eBay.
    • Flobberchops
    • By Flobberchops 15th Mar 18, 6:44 PM
    • 723 Posts
    • 523 Thanks
    Flobberchops
    Do you actually know of any banks that have a declared policy of accepting them?
    Originally posted by eskbanker
    Not a declared policy, no, but in the multiple branches of the major high street bank that I've worked for in the last few years, in practice I've not heard of customers being turned away when depositing commemorative, demonetised, or Scots-Irish currency (in addition to damaged and defaced circulating currency). It's surely commonsense that most banks have the ability to remit money that isn't commonly in circulation; and additionally it makes more sense to entertain a reasonable request than to upset the customer?

    Actually the only example I have of a deposit being refused was when a lady tried depositing a bag of ha'pennies (demonetised 1984!) a couple of years ago, and that was simply because the branch had no facilities to record or weigh the coins. Had I known then what I know now, I would have bought the lot off her at face value, and made a 10,000 to 20,000% mark-up selling them to date-run collectors on eBay!
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
    • eskbanker
    • By eskbanker 15th Mar 18, 7:29 PM
    • 7,096 Posts
    • 7,522 Thanks
    eskbanker
    Not a declared policy, no, but in the multiple branches of the major high street bank that I've worked for in the last few years, in practice I've not heard of customers being turned away when depositing commemorative, demonetised, or Scots-Irish currency (in addition to damaged and defaced circulating currency). It's surely commonsense that most banks have the ability to remit money that isn't commonly in circulation; and additionally it makes more sense to entertain a reasonable request than to upset the customer?
    Originally posted by Flobberchops
    I was thinking about it more from the perspective of advising OP where they can go rather than the theory of whether or not it should be possible - it's not much consolation to them that an unnamed bank typically takes them or that you'd expect others to, if that contradicts their personal experience!
    • Bobblehat
    • By Bobblehat 15th Mar 18, 7:40 PM
    • 120 Posts
    • 78 Thanks
    Bobblehat
    Why do people even buy commemorative coins? Do they still believe thats they will be worths in the future?

    Inherited a collection spanning 50+ years and they are worth nothing more than face value. All readily available from coin sellers and eBay.
    Originally posted by LeeUK
    I inherited mine from my late dad ..... who was probably one of those people who "believe thats they will be worths in the future"!

    .....and the older 5/- crowns are readily available at car boot sales all over the country for next to nothing
    • Bobblehat
    • By Bobblehat 15th Mar 18, 7:44 PM
    • 120 Posts
    • 78 Thanks
    Bobblehat
    ........ unless they are pre 1920 ...... Silver! Ah! Ha! Me Hearties!
    • realaledrinker
    • By realaledrinker 16th Mar 18, 12:12 AM
    • 1,575 Posts
    • 537 Thanks
    realaledrinker
    Digressing but at age 11 my 1966 World Cup overstamped "England Winners" stamps were to secure me for life. Couldn't get rid
    Ethical moneysaver
    • Flobberchops
    • By Flobberchops 16th Mar 18, 10:52 PM
    • 723 Posts
    • 523 Thanks
    Flobberchops
    I was thinking about it more from the perspective of advising OP where they can go rather than the theory of whether or not it should be possible - it's not much consolation to them that an unnamed bank typically takes them or that you'd expect others to, if that contradicts their personal experience!
    Originally posted by eskbanker
    Well, the entire motivation behind my post was to express surprise at the strictness of the banks policy as that contradicts my personal experience!

    I believe the Post Office has an agreement to take commemoratives, if in payment if nothing else?
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
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