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  • FIRST POST
    • Mimi86
    • By Mimi86 12th Jul 18, 6:43 PM
    • 16Posts
    • 6Thanks
    Mimi86
    Old Pound coins
    • #1
    • 12th Jul 18, 6:43 PM
    Old Pound coins 12th Jul 18 at 6:43 PM
    I recently found some more old pound coins but when i went into my local santander, hsbc and post office today they said they do not take them.
    Does any one know where I can still bank or exchange them?

    Thanks
Page 1
    • mije1983
    • By mije1983 12th Jul 18, 6:49 PM
    • 3,542 Posts
    • 20,278 Thanks
    mije1983
    • #2
    • 12th Jul 18, 6:49 PM
    • #2
    • 12th Jul 18, 6:49 PM
    Are one of those banks a bank that you are a customer of?

    • Robin9
    • By Robin9 12th Jul 18, 6:55 PM
    • 3,264 Posts
    • 2,127 Thanks
    Robin9
    • #3
    • 12th Jul 18, 6:55 PM
    • #3
    • 12th Jul 18, 6:55 PM
    We've had this discussion on the Forum before - just donate them to a Charity -they will find a home for them.
    Never pay on an estimated bill
    • Flobberchops
    • By Flobberchops 12th Jul 18, 7:25 PM
    • 828 Posts
    • 662 Thanks
    Flobberchops
    • #4
    • 12th Jul 18, 7:25 PM
    • #4
    • 12th Jul 18, 7:25 PM
    Your own bank should accept them, but before you cash them in check to see if you have any rare ones. The UK cities series in particular is worth more than face value.
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
    • TuppenceHapenny
    • By TuppenceHapenny 12th Jul 18, 9:27 PM
    • 62 Posts
    • 3 Thanks
    TuppenceHapenny
    • #5
    • 12th Jul 18, 9:27 PM
    • #5
    • 12th Jul 18, 9:27 PM
    Your own bank should accept them, but before you cash them in check to see if you have any rare ones. The UK cities series in particular is worth more than face value.
    Originally posted by Flobberchops
    What should you do with the rarer ones - try to sell them on ebay?
    • DCFC79
    • By DCFC79 12th Jul 18, 9:43 PM
    • 32,916 Posts
    • 20,731 Thanks
    DCFC79
    • #6
    • 12th Jul 18, 9:43 PM
    • #6
    • 12th Jul 18, 9:43 PM
    OP this topic has already been discussed, search the forums/internet for an answer.
    • Aura
    • By Aura 13th Jul 18, 8:22 AM
    • 218 Posts
    • 309 Thanks
    Aura
    • #7
    • 13th Jul 18, 8:22 AM
    • #7
    • 13th Jul 18, 8:22 AM
    Salvation army take them
    • Wheres My Cashback
    • By Wheres My Cashback 13th Jul 18, 9:23 AM
    • 3,162 Posts
    • 38,139 Thanks
    Wheres My Cashback
    • #8
    • 13th Jul 18, 9:23 AM
    • #8
    • 13th Jul 18, 9:23 AM
    Old used 1 coins sell between 2 and 25 on ebay dependent on circulation year/design.
    I currently sell approx 30-50 coins per week, but still have about 4000 to offload.
    • eskbanker
    • By eskbanker 13th Jul 18, 10:49 AM
    • 8,405 Posts
    • 9,509 Thanks
    eskbanker
    • #9
    • 13th Jul 18, 10:49 AM
    • #9
    • 13th Jul 18, 10:49 AM
    Old used 1 coins sell between 2 and 25 on ebay dependent on circulation year/design.
    I currently sell approx 30-50 coins per week, but still have about 4000 to offload.
    Originally posted by Wheres My Cashback
    Sounds like you're a reasonably serious Ebay seller - not sure if you're actually suggesting that the minimum selling price is 2 but from a quick look there are plenty of sales at much closer to face value (and obviously there are ancillary fees and postage, etc, to factor in too), so anyone reading your post and believing they can tidy up a nice profit from a small amount of commonplace coins is likely to be disappointed!

    Or are you offering to take them off OP's hands at face value or above, on the basis that you'll still be able to make money from the deal?
    • Westie983
    • By Westie983 14th Jul 18, 12:40 AM
    • 4,608 Posts
    • 15,143 Thanks
    Westie983
    Your bank will take them, but you will need to go to your bank as they will pay them in and then do a withdrawal if you wish to have the current 1 back,

    Westie983
    Save 12k in 2019 #10 Total (16000)+0/12000 = 0.0%
    Sealed Pot Challenge ~ 12 #97 Total (450)+1/500 = 0.20% ( x 11)
    Xmas 2018 1 a Day #2 Total (165)+0/365 = 0.00%
    Virtual Sealed Pot #1 Total (1300)+0/1000 = 0.00%
    2 Savers Club 2018 #16 Total (1030)+0/2000 = 0.0%

    Total 1.00/15865 = 2.00%
    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • pochisoldi
    • By pochisoldi 14th Jul 18, 11:14 AM
    • 147 Posts
    • 88 Thanks
    pochisoldi
    I recently found some more old pound coins but when i went into my local santander, hsbc and post office today they said they do not take them.
    Does any one know where I can still bank or exchange them?

    Thanks
    Originally posted by Mimi86
    Did you try paying them into an account, or simply tried to exchange them?

    Most banks now are getting pretty finicky about doing anything with cash other than paying it into an account. (for example the recent posting I saw on these forums where Barclays refused to exchange 5 notes issued by an in bank ATM for 20 notes, because the person requesting wasn't a Barclays customer).

    Part of this seems to be related to a general attitude of "If you're not our customer, and your transaction won't make us any money: Go away"
    • eskbanker
    • By eskbanker 14th Jul 18, 11:28 AM
    • 8,405 Posts
    • 9,509 Thanks
    eskbanker
    Did you try paying them into an account, or simply tried to exchange them?

    Most banks now are getting pretty finicky about doing anything with cash other than paying it into an account. (for example the recent posting I saw on these forums where Barclays refused to exchange 5 notes issued by an in bank ATM for 20 notes, because the person requesting wasn't a Barclays customer).

    Part of this seems to be related to a general attitude of "If you're not our customer, and your transaction won't make us any money: Go away"
    Originally posted by pochisoldi
    To be fair, the situation is more like "we're now being much more stringently regulated than before (AML, KYC, etc) and so have to impose controls that weren't mandated previously"....
    • ozaz
    • By ozaz 14th Jul 18, 12:41 PM
    • 185 Posts
    • 62 Thanks
    ozaz
    I recently found some more old pound coins but when i went into my local santander, hsbc and post office today they said they do not take them.
    Does any one know where I can still bank or exchange them?

    Thanks
    Originally posted by Mimi86
    If you're having trouble paying them into your bank and happen to live in or around London you might want to consider Fourex machines. They take them, but with a rather unfavorable exchange rate (you get about 80% back).
    • Mimi86
    • By Mimi86 14th Jul 18, 5:03 PM
    • 16 Posts
    • 6 Thanks
    Mimi86
    I tried all my local banks where i have an account but then then thankfully I found a natwest who were happy to exchange even though i don't have an account with them!
    Thank you
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