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Still Waters

Round pound to be replaced by 12-sided coin

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The new 12-sided £1 coin will enter circulation on 28 March and the old-style coin will be defunct by mid-October, the Treasury has announced.

The government is launching a campaign to encourage the public to return the round coins. The Treasury estimates that £1.3bn of coins are being stored in savings jars, with £1 coins accounting for almost a third of these. They must be exchanged before 15 October when they will cease to be legal tender.

The first new £1 coin since 1983 is an attempt to end counterfeiting. It is estimated that 3% of the current coins in circulation are fake. The new coin will be the most secure in the world, it is claimed, with several security features, including a hologram.

https://www.theguardian.com/money/2017/jan/01/new-12-sided-pound-coins-royal-mint-currency

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I'll keep a few soon to be old pound coins, i'll have to research which are collectable or rarest and keep them along with the other old money I've kept as it goes out of circulation. over recent years i've built up a bit of a collection of coins, in that i've got few 50p Peter Rabbits. as i expect many will have being in the news not so long ago, i think my rarest is probably my 20p Royal Shield not date stamped. talking of Royal shield you seen them on the pound coin most but are people aware of the six coins which make up the Shield, the ones that have half shield on them that you can piece together. (picture) i have a commonwealth £2 coin and six Glasgow commonwealth games 50ps and one Euro 50p and my favourite the WWF fund one. (most of what i have are not rare (yet))

Related image

 

 

 

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looks good but as usual likely questions will they work with existing vending machine, coin box etc? 

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I like the old threepenny bit design they're using for this new coin. I've got a purse I keep £1 coins in and another one I keep 50ps and £2 coins in. The other silver coins are in a different purse and the 2ps and 1ps are in a tin, I have a lot of coins, too many to carry around in my bag where I have a mixture of them all. I keep meaning to bank them but never get around to it.

10 minutes ago, kartikg said:

looks good but as usual likely questions will they work with existing vending machine, coin box etc? 

It sounds like there'll be some problems to begin with.

Quote

About 40% of vending and other cash-receiving machines will have to be upgraded.

 “While there will be a natural transition period where some vending systems may only be able to accept the existing coin, 

I've found the existing £1 coins don't always work either.

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16 hours ago, stevewinn said:

I'll keep a few soon to be old pound coins, i'll have to research which are collectable or rarest and keep them along with the other old money I've kept as it goes out of circulation. over recent years i've built up a bit of a collection of coins, in that i've got few 50p Peter Rabbits. as i expect many will have being in the news not so long ago, i think my rarest is probably my 20p Royal Shield not date stamped. talking of Royal shield you seen them on the pound coin most but are people aware of the six coins which make up the Shield, the ones that have half shield on them that you can piece together. (picture) i have a commonwealth £2 coin and six Glasgow commonwealth games 50ps and one Euro 50p and my favourite the WWF fund one. (most of what i have are not rare (yet))

Related image

 

 

 

I always wondered why the coins had of center designs.

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Can you imagine the bureaucracy involved in changing the design of the Euro.

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2 minutes ago, hetrodoxly said:

I always wondered why the coins had of center designs.

So did i, I had noticed the five pence and 10 pence both had a design that nearly lined up. So i will admit i cheated and went to the post office who have money charts which explain the designs on coins and how many in circulation. Obviously those with a lower circulation are more rare and could be worth more than their face value in the future.

once made aware you never quite look at your change in the same way again. a bit nerdy i know, not a good chat up line. It reminds me of the scene in Only Fools and Horses, the famous episode where Del Boy falls through the Bar, well just before Del falls through the Bar, being in a fancy yuppy wine Bar, the are these two 'birds' and Del tells trigger the women in the place will be impressed if you talk money,  at that point trigger turns to one of the women and says, 'I seen an old five pound notes the other day'  

 

50p's

http://blog.postofficeshop.co.uk/wp-content/uploads/2015/09/50p-Coins-Updated.jpg

http://blog.postofficeshop.co.uk/wp-content/uploads/2015/09/Olympic-50p-Top-10.jpg

£2 coin.

http://blog.postofficeshop.co.uk/wp-content/uploads/2015/09/2-Coins-Top-10.jpg

£1.

http://blog.postofficeshop.co.uk/wp-content/uploads/2015/09/1-Coins-updated.jpg

 

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54 minutes ago, stevewinn said:

So did i, I had noticed the five pence and 10 pence both had a design that nearly lined up. So i will admit i cheated and went to the post office who have money charts which explain the designs on coins and how many in circulation. Obviously those with a lower circulation are more rare and could be worth more than their face value in the future.

once made aware you never quite look at your change in the same way again. a bit nerdy i know, not a good chat up line. It reminds me of the scene in Only Fools and Horses, the famous episode where Del Boy falls through the Bar, well just before Del falls through the Bar, being in a fancy yuppy wine Bar, the are these two 'birds' and Del tells trigger the women in the place will be impressed if you talk money,  at that point trigger turns to one of the women and says, 'I seen an old five pound notes the other day'  

 

50p's

http://blog.postofficeshop.co.uk/wp-content/uploads/2015/09/50p-Coins-Updated.jpg

http://blog.postofficeshop.co.uk/wp-content/uploads/2015/09/Olympic-50p-Top-10.jpg

£2 coin.

http://blog.postofficeshop.co.uk/wp-content/uploads/2015/09/2-Coins-Top-10.jpg

£1.

http://blog.postofficeshop.co.uk/wp-content/uploads/2015/09/1-Coins-updated.jpg

 

Your right, i've just been looking through my change, I love trigger and his broom.

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On ‎01‎/‎01‎/‎2017 at 9:40 PM, stevewinn said:

I'll keep a few soon to be old pound coins, i'll have to research which are collectable or rarest and keep them along with the other old money I've kept as it goes out of circulation. over recent years i've built up a bit of a collection of coins, in that i've got few 50p Peter Rabbits. as i expect many will have being in the news not so long ago, i think my rarest is probably my 20p Royal Shield not date stamped. talking of Royal shield you seen them on the pound coin most but are people aware of the six coins which make up the Shield, the ones that have half shield on them that you can piece together. (picture) i have a commonwealth £2 coin and six Glasgow commonwealth games 50ps and one Euro 50p and my favourite the WWF fund one. (most of what i have are not rare (yet))

Related image

 

 

 

I still have a paper £1 note, and a very old Scottish £2 coin , which is twice as thick as the current £2 English coin, I don,t know whether this is still legal tender. but I'm not a coin collector and would let it go for its face value.I also have a collection of various jubilee crowns, and other assorted coins which were issued on special occasions like the Queens Jubilee etc.which I'm not interested in.

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19 hours ago, spud the mackem said:

I still have a paper £1 note, and a very old Scottish £2 coin , which is twice as thick as the current £2 English coin, I don,t know whether this is still legal tender. but I'm not a coin collector and would let it go for its face value.I also have a collection of various jubilee crowns, and other assorted coins which were issued on special occasions like the Queens Jubilee etc.which I'm not interested in.

The coins you have no interest in you should at least search out their going rate and maybe put them on E-bay or maybe a collectors site, could earn yourself a few bob. 

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I must say....for years I have never carried 'change'. When I come home I empty my pocket of all change and only, sometimes, dig out the pound coins to take the next day. No Im not posh....its more of a mild OCD for me....I simply hate pocketfuls of change. Then when Ive got a couple kilos of coins I go to one of those change machines you see in supermarkets and swap them up for folding money

Then in recent news, as stevewin posted ...have I become aware many coins are worth a few quid to collectors on ebay....grr...  Ive had and got rid off, most of the collectible coins, tho now I look at every coin I have....

I even had one of the new fivers with a serial number beginning AK47..... I thought nothing of it and spent it along with other money. Then I saw a news article about collectors snapping up AK47 notes on ebay...and grrr again!

Collectors are a funny breed, and its worth brushing up on collectible coins

I still have original one pound notes, and a small purse FULL of threpenny bits and some churchill coins....I may sell on a rainy day and if the return is good enough

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Soooo... we are replacing the Pound Coin with a Threepenny Bit ?

mJD3wHRErU9XGHK2-viCcqw.jpg 

I know that there was a devaluation of the pound after the Brexit vote, but that seems a tad extreme ? :P 

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Posted (edited)

are pound coins used a lot in uk? are there 1 pound bills? we tried it with dollar coins here, it did not take off, can't really tip a stripper with coins, lol

Edited by aztek
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6 minutes ago, aztek said:

are pound coins used a lot in uk? are there 1 pound bills? we tried it with dollar coins here, it did not take off, can't really tip a stripper with coins, lol

I got to laugh at you yanks. :D  1 pound bills........over here "bills" are what people wanting money send out, eg: electricity bills, water bills, government holiday fund (otherwise known as council tax bills)

I prefer the coins and do not care what shape they are, but then again, I do not tip strippers.:lol:

 

 

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lol, here too, but paper money are called bills as well.  

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On ‎01‎/‎01‎/‎2017 at 8:20 PM, Still Waters said:

Thank you for linking to an article with a clear picture.

I am already working on my counterfeit version.

;)

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I here that the treasury are working on issuing £20.00 coins In the future if this is true I guess that we men will have to carry little purses around, as a £20.00 coin is too valuable to go into your pocket with other loose change.  

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On 10/01/2017 at 11:27 PM, spud the mackem said:

I here that the treasury are working on issuing £20.00 coins In the future if this is true I guess that we men will have to carry little purses around, as a £20.00 coin is too valuable to go into your pocket with other loose change.  

There's already a £20 commemmorative coin, first issued in 2013.

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I think it's nonsense to be honest. It's a pain in the backside for everyone. Because everyone has to exchange there pound coins for some new one.

I like the way it looks now. Don't want to exchange money I've got in my money jar.

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