I am going to the UK next week. I recently found 15 old round UK Pound coins that I'd kept over the years. I know they're not worth more than face value (I looked them up). Can I go into a bank in England and exchange them for current pound coins, or am I stuck with them?
I'll be visiting a cousin who lives there. Could she help me exchange them, as an account holder?
Or, should I just leave them home (not worth the effort, save them as a souvenir)?
Account holders can pay them into their account.
The Royal Mint has this notice on its website. (Royal Mint is responsible for coins)
"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."
It doesn't sound like there is a "for sure" way to do this. I suppose you can see if your cousin can exchange at his/her bank, but then you have to ask how much of your vacation time are you going to spend trying to hunt down 15 pounds?
If you will be in London during the trip you could stop into the Old Lady of Threadneedle Street (the Bank of England, handily built right on top of Bank tube station) and they will be happy to exchange them for you. They may even give you crisp new notes, or you could probably ask them for non-round Pounds.
I wouldn't count on all branches of all banks accepting them as deposit. They certainly won't change them over the counter.
That's if you can find a brick and mortar branch of your cousin's bank - they are more and more disappearing from the High Street.
The Bank of England has always exchanged all de-monetised currency at the location mentioned just above.
Note from my other thread that Bank station on the Northern Line has just (whew!) reopened.
Nigel, the Bank of England only does notes, not coins, according to its website: https://www.bankofengland.co.uk/banknotes/exchanging-old-banknotes
The Royal Mint only deals with coin exchange in bulk. So banks can still exchange them and do so as a courtesy for their customers, but individuals can't.
I would put them in a charity collection box
Last time I was in England I had some old, paper notes that were not negotiable at vendors. I tried to exchange them in a bank or two but they would only do so for a customer. So, I dropped them in donation boxes along the way. A church or two, a "free" museum, that sort of place. I figured the charity would have an account and the bank would make it good to them. And it made me feel like I was donating to a cause.
