The old-fashioned coin can still be deposited at your home`s bank – even if it can no longer be spent in stores. Barclays told consumers it would exchange up to £100 worth of old notes and coins for customers. However, the Mint said these banks are not required to exchange coins with non-customers and may impose deposit limits, so it`s best to check this before you leave. According to Mint, a company wholly owned by the British Treasury, about 138 million round 1-pound coins have been melted down to create new ones at their base in Llantrisant in Rhondda Cynon Taf. Details of the money still hidden in the houses were revealed in a BBC Wales Freedom of Information request. The old “round book” is no longer legal tender – here`s what to do if you still have something left See if you keep some of these old book pieces; Take a look at some of these common places: If you have one of the rarest designs, your coin could be worth more than its face value. The “Royal Arms” are the most common design, but there are 24 different models in circulation, and some coins can fetch you up to £20. Some reports suggest that the rarest have sold on eBay for up to £35. Old coins and banknotes worth billions are still in the possession of the public, but can still be exchanged It seems like a lot of problems, why this change? The old round pound was introduced in 1983 to replace the £1 note, which was relatively easy to counterfeit and had a very limited shelf life. The “safest” 12-sided 12-pound coin entered circulation in March 2017, while the former 1-pound round coin lost its legal tender status in October 2017. MORE: Charities urge public to donate old round books as new £1 coin enters circulation The old £1 coin was withdrawn from circulation in October 2017 and replaced with a thinner, lighter 12-sided coin. The old round coins are no longer legal tender and shops, restaurants and other retailers do not accept them.

From 11:59 p.m. on Sunday, October 15, the old coin is no longer legal tender, so retailers, restaurants, bars, etc. can refuse to accept it. There are still 145 million old one-pound coins missing, although they were withdrawn from circulation as legal tender in October 2017. Customers can still deposit or exchange old £1 coins. In the current circumstances, the banks that are part of the RBS Group advise to come to branches only when they really need it. They do not advise emptying an old coin pot and coming to the branch for this reason. What should I do with my old parts? You can issue them normally until Sunday, but if you have an exchange pot full of them, it`s best to bring them to your bank or post office to exchange them for banknotes, as long as they`re in 20-coin bags.

The new 12-sided one-pound coin was introduced in March 2017 and demonetized in October 2017. You can no longer spend the old ones in stores. Here`s what you need to know if you find that you`re still in possession of some of them. There is no minimum that can be deposited, but it usually allows a maximum of five bags of coins (£20 each) per account, although this is at your discretion. There is no maximum that can be deposited into child accounts. He said he doesn`t expect that service to be interrupted anytime soon (he still accepts the old 50p that was retired more than 20 years ago), but urges people to question whether a trip to a branch is essential right now. Hailed as the safest currency in the world, the new 12-sided coin has become a familiar sight for the British in a relatively short period of time. The Royal Mint`s exclusive figures for YourMoney.com show that the old coins worth £131 million have not yet been returned to the Royal Mint.

Do you have antique money? Learn how to evaluate old parts. About 1.2 billion old 1-pound coins have been confiscated, but about 500 million remain in circulation. We understand that today there are only a few bank branches to go to. If you can`t make it to your bank, go to a post office that allows you to deposit old coins in most major bank accounts. As part of a modernisation of the British currency, the Bank of England has withdrawn billions of £1, £5 and £10 notes over the past five years and replaced them with new, sustainable alternatives that are harder to counterfeit. In recent developments, the central bank now exchanges the old £20 and £50 notes. Some of the parts – supposedly the safest in the world – appear cracked, warped or missing the middle. A spokesman said: “We continue to accept coins and banknotes in our branches. However, to ensure we are adhering to the government`s social distancing policy, we continue to ask members to determine if a visit to the branch is essential at this time. Other faulty parts given to Sun readers are misshapen, with sections bleeding into each other or design details missing. Customers with a Santander current or savings account can deposit old £1 coins into their account at one of the branches. You cannot exchange old parts for new ones at the counter.

Some charities can still put old coins to good use. If you have a charity in mind, visit their website or call them to ask if you can donate the coins. Some will send you an envelope to send. The same goes for those who still have old 1-pound coins and lower-value banknotes. However, not all banks still accept the now illegal means of payment, which cannot be spent in shops, pubs or elsewhere. He confirms that the service is still available during the health crisis and that there are no limits. HSBC is using “common sense” and while offering essential counter services at this stage where customers have these coins and have a substantial need to trade, they will be able to do so. Over the past 30 years, the old round coin has become increasingly vulnerable to counterfeiters – in fact, the Royal Mint declares that a £10 coin is fake. The post office will allow customers to deposit old coins and banknotes into a bank account, which can then be withdrawn and spent as new money.

Not everyone will be able to do this right away, as your bank needs to be connected to receive cash deposits in the mail. In the first year they were withdrawn from circulation, an estimated 169 million had not yet been registered.