What to do with old £1 Coins

If you run a business which deals with cash (a retailer for example) then you’ll likely have lots of the old ‘round’ £1 coins lying around which you can no longer use as legal tender, so what can you do with them? Luckily there is a way to ensure you don’t miss out on the money and in this article we’ll just quickly explain quickly how you can get your money back for old £1 coins.


How to change old ‘round’ £1 coins

So if you have any old £1 simply collect them all together and take them to your local bank or post office, they wont actually change the ‘old round coin’ for the new ’12-sided coin’ but they will let you deposit them into your bank account as legal tender and will credit your account for that amount.

PLEASE NOTE: The banks and post offices have said they are going to put a deadline on this, right now it’s still fine but there will eventually be an ‘end date’ for accepting old £1 coins so get down to the banks/post offices as soon as possible!