5

Since I haven't opened a bank account in the UK yet, this question should be valid for travellers as well. When a bus driver rejected the coin (£1) below, I noticed that it is out of circulation. As far as I understand, I could deposit it if I had an account.

What other options do I have without a bank account?

old one pound

12
  • 2
    That would make it a collectors item. I would keep it? Still a pawn shop should do the trick. Commented Oct 12, 2018 at 13:55
  • 1
    The photo is upside down.
    – phoog
    Commented Oct 12, 2018 at 13:57
  • 1
    @Traveller in my experience with other coin changes, machines that take the new coins typically don't take the old ones. Is it different with the pound coins in the UK?
    – phoog
    Commented Oct 12, 2018 at 14:54
  • 3
    How many do you have? If just one then almost any solution is likely to cost more than the face value of the coin.
    – mdewey
    Commented Oct 12, 2018 at 15:48
  • 3
    When I had this problem I put the coin (actually two or three of them) in a collection bin for charity, hoping they would eventually have enough that it made it worth the effort for them. Commented Oct 12, 2018 at 18:49

1 Answer 1

3

Bank of England

We do not exchange coins

Please contact the Royal Mint for information about coins or to exchange coins

The Royal Mint

How can I dispose of coins no longer in circulation?

It is our understanding that some United Kingdom high-street banks are willing to accept demonetised coins from their customers. Please be aware, however, they are under no legal obligation to do so.

That seems to suggest that your coin is no longer a legal tender and a monetary exchange is not guaranteed.

I would keep it as a souvenir.

However, if you still like to sell your coin this may help:

Does the Royal Mint buy coins and medals from the general public?

The Royal Mint does not currently purchase old coins or medals.

If you wish to sell your coins we would recommend that you contact a reputable coin dealer such as Sovereign Rarities Ltd. www.sovr.co.uk or your local BNTA member www.bnta.net

A very relevant news article: How to swap your old £1 coin for a new one at your bank – when did they change and how long will banks accept the round pounds?

You must log in to answer this question.