New GBP vs. Old GBP coins

ajaanajaan Posts: 15,127 ✭✭✭✭
edited March 15, 2018 10:15AM in World & Ancient Coins Forum

I was told the old Pound coins are no longer accepted. How can one tell which are the new Pound coins? Dates? Images of one vs. the other? Are the new one pound coins the multi-sided coins and the old round?


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Comments

  • JBKJBK Posts: 3,114 ✭✭✭✭✭

    @ajaan said:
    Are the new one pound coins the multi-sided coins and the old round?

    Yes.

    I heard that banks might still take them but not sure of the process.

  • SaorAlbaSaorAlba Posts: 5,680 ✭✭✭✭

    They are demonetized - but you can still exchange them at banks. Even predecimal coinage back to 1816 is exchangeable - but a process to do and really not worth the trouble since the pound has devalued so much in the last 60+ years.

    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016
  • ajaanajaan Posts: 15,127 ✭✭✭✭

    @SaorAlba said:
    They are demonetized - but you can still exchange them at banks. Even predecimal coinage back to 1816 is exchangeable - but a process to do and really not worth the trouble since the pound has devalued so much in the last 60+ years.

    Do you know what the process is?


    DPOTD-3
    'Emancipate yourselves from mental slavery'

    CU #3245 B.N.A. #428


    Don
  • SaorAlbaSaorAlba Posts: 5,680 ✭✭✭✭

    @ajaan said:

    @SaorAlba said:
    They are demonetized - but you can still exchange them at banks. Even predecimal coinage back to 1816 is exchangeable - but a process to do and really not worth the trouble since the pound has devalued so much in the last 60+ years.

    Do you know what the process is?

    You have to contact a bank such as NatWest and they usually only redeem in even amounts of pounds with a minimum of one pound. With bronze coins such as halfpennies or pennies they are worth more as scrap metal than their face value.

    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016
  • ajaanajaan Posts: 15,127 ✭✭✭✭

    My son's fiancee is in England. Can she just take them to the bank? Thanks.


    DPOTD-3
    'Emancipate yourselves from mental slavery'

    CU #3245 B.N.A. #428


    Don
  • JBKJBK Posts: 3,114 ✭✭✭✭✭
    edited March 15, 2018 6:18PM

    @ajaan said:
    My son's fiancee is in England. Can she just take them to the bank? Thanks.

    Recently replaced pound coins, probably. Older coins, no. As has been suggested, there are rules for how much must be redeemed

  • So will any US bank exchange the recently replaced one pound coins to USD?

  • SaorAlbaSaorAlba Posts: 5,680 ✭✭✭✭

    @tonedSilver said:
    So will any US bank exchange the recently replaced one pound coins to USD?

    Banks in the US will not change any foreign coins.

    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016
  • ajaanajaan Posts: 15,127 ✭✭✭✭

    @SaorAlba said:

    @tonedSilver said:
    So will any US bank exchange the recently replaced one pound coins to USD?

    Banks in the US will not change any foreign coins.

    Mostly correct, but some banks in my area will change Canadian coins.


    DPOTD-3
    'Emancipate yourselves from mental slavery'

    CU #3245 B.N.A. #428


    Don
  • amwldcoinamwldcoin Posts: 4,724 ✭✭✭✭✭

    What's the exchange rate from pre-decimal to decimal?

    @SaorAlba said:
    They are demonetized - but you can still exchange them at banks. Even predecimal coinage back to 1816 is exchangeable - but a process to do and really not worth the trouble since the pound has devalued so much in the last 60+ years.

  • SaorAlbaSaorAlba Posts: 5,680 ✭✭✭✭

    @amwldcoin said:
    What's the exchange rate from pre-decimal to decimal?

    240 old pence = 100 new pence or a pound. With coins less than sixpence it is more complicated because it goes as 240 old pence = 100 new pence. But the sixpence coin is worth 2.5 new pence and circulated as such until 1980. The old shilling and two shilling(florin) coins circulated as 5 new pence and 10 new pence until the latter were replaced with smaller coins in 1990 and 1992. A half crown or 2/6 coin is the equivalent of 12.5 new pence but it was demonetized in 1971. Crowns like the Churchill crowns of 1965 could circulate as 25 new pence up into the early 1990s.

    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016
  • ajaanajaan Posts: 15,127 ✭✭✭✭

    I would love to have a well circulated Churchill Crown.


    DPOTD-3
    'Emancipate yourselves from mental slavery'

    CU #3245 B.N.A. #428


    Don
  • JBKJBK Posts: 3,114 ✭✭✭✭✭

    If you have a quantity of pre-decimal coins you are far better off selling them on eBay as a group. They don't have a ton of value but it will be infinitely easier to get rid of them that way.

  • SapyxSapyx Posts: 1,117 ✭✭✭

    @ajaan said:
    I was told the old Pound coins are no longer accepted. How can one tell which are the new Pound coins? Dates? Images of one vs. the other? Are the new one pound coins the multi-sided coins and the old round?

    Not yet mentioned by anyone, but the easiest way to tell them apart is colour: the old ones are solid brass, the new ones are bimetallic, with a steel core and brass ring.

    Waste no more time arguing what a good man should be. Be one.
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  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 2,975 ✭✭✭✭

    @SaorAlba said:

    @tonedSilver said:
    So will any US bank exchange the recently replaced one pound coins to USD?

    Banks in the US will not change any foreign coins.

    I have perhaps 40 of the now demonetized pound coins. Most likely I will ship them to this outfit to recover some value.

    https://leftovercurrency.com/

  • 291fifth291fifth Posts: 16,259 ✭✭✭✭✭

    @ajaan said:

    @SaorAlba said:

    @tonedSilver said:
    So will any US bank exchange the recently replaced one pound coins to USD?

    Banks in the US will not change any foreign coins.

    Mostly correct, but some banks in my area will change Canadian coins.

    Here in the Detroit area, just across from Canada, no bank I know of will change Canadian for US or vice versa.

    All glory is fleeting.
  • JBKJBK Posts: 3,114 ✭✭✭✭✭

    @OnlyGoldIsMoney said:

    @SaorAlba said:

    @tonedSilver said:
    So will any US bank exchange the recently replaced one pound coins to USD?

    Banks in the US will not change any foreign coins.

    I have perhaps 40 of the now demonetized pound coins. Most likely I will ship them to this outfit to recover some value.

    https://leftovercurrency.com/

    List them on eBay. Major world coins the have face value do well there.

  • BoosibriBoosibri Posts: 7,407 ✭✭✭✭✭

    Living in England for the last few year, I sure thought that you had until last October to exchange them. After that they were demonitized. I don’t think banks will take them.

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