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

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....

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 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....

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!!!

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!