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Yes but remember, it will be worth a lot more than 5 pounds in years to come.
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Can you still use five pound coins?
yes 5 pound coins are legal tender
Is a British Two Pound coin legal tender?
Yes, the Five Pound (Crown) coin is legal tender in the United Kingdom in values up to any amount. Despite being fully legal tender the Five Pound (Crown) coin will often be refused in shops simply because it is not commonly seen in circulation. The reason for this is that, though the coin is of a standard size and weight, it has no standard face designs, the coins are always of a commemorative nature and so are often kept away in private collections. There is no way to force an individual to accept any form of payment, including legal tender. Transactions in the UK are always a mutual agreement between two parties. The Post Office have stated that they are happy to receive the coin as payment for goods and services. A bank should also be able to exchange the coin for change or a banknote, or you can deposit it into an account.
What is highest valued coin?
In the UK we have a commemorative five pound (£5) coin. Five pound coins are legal tender, but are intended as souvenirs and are not usually seen in circulation.
Is payment in coin - pennies - considered legal tender?
In the United Kingdom - 1 and 2 Pence coins are legal tender for amounts up to 20 Pence. 5 and 10 Pence coins are legal tender for amounts up to Five Pounds. 20 and 50 Pence coins are legal tender for amounts up to Ten Pounds. One, Two and Five Pound coins are legal tender for any amount. Australia and New Zealand have similar limitations to the UK on low denomination coins. In the USA - All circulating US coins and banknotes are legal tender for all debts and charges. (A retailer might reasonably refuse payment of large amounts in one cent coins due to the practicality of dealing with a wheelbarrow load of coins.)
Can you spend old British coins?
Most likely no. Most British predecimal coins are no longer legal tender. The predecimal Crown was never demonetised and is still legal tender. The decimal Halfpenny, the larger pre-1990 5 Pence, the larger pre-1991 10 Pence and the larger pre-1997 50 Pence have all been demonetised and are no longer legal tender. The Commemorative 25 Pence and Five Pound (Crown) coins are legal tender, but not intended to be circulated. All other British decimal coins should be all right to spend.
Which british coins are still legal tender in 2014?
General circulation legal tender British coins in circulation in 1984 were - Halfpenny - withdrawn and demonetised in 1984 Penny Two Pence Five Pence Ten Pence Twenty Pence Twenty-Five Pence Fifty Pence One Pound The term "New" referring to Pence, was dropped from 1982 onwards. The gold Half-Sovereigns, Sovereigns, Two Pound and Five Pound coins are not considered general circulation coins, but are non-circulating legal tender.
Are 5 coins legal tender in the UK?
I not sure as to the meaning of the question? The first five legal tender coins in the UK are: 1p, 2p, 5p, 10p, 20p (p meaning pence).
What is the maximum legal tender of 50 Pence pieces?
Current policy on British coins as legal tender is - 20 pence pieces, 25 pence coins and 50 pence pieces are legal tender in amounts up to 10 pounds; 5 pence pieces and 10 pence pieces are legal tender in amounts up to 5 pounds; 1 penny pieces and 2 pence pieces are legal tender in amounts up to 20 pence.
Does legal tender ensure the acceptability of money?
"Can Legal Tender be refused as payment to settle a debt?", the short answer is no, but there are a lot of "buts" and "what ifs" with Legal Tender and it varies from country to country. As far as Great Britain is concerned, any demonetised coin or banknote such as the One Pound note or the Half New Penny, etc. are no longer Legal Tender. 1 and 2 Penny coins are Legal Tender in amounts up to 20 Pence. 5 and 10 Pence coins are Legal Tender in amounts up to Five Pounds. 20 and 50 Pence coins are Legal Tender in amounts up to Ten Pounds. One, Two and Five Pound coins are Legal Tender up to any amount, as are banknotes. The currencies of Scotland and Northern Ireland are not Legal Tender in England and Wales (and vice-versa), but are accepted on the basis of them being a Promissory Note by mutual agreement between the banks concerned. A shopkeeper is entitled to refuse payment if the coins or banknotes are mangled, mutilated or torn or, he cannot make change for a small purchase from a large banknote. An unacceptable coin is one where the main design features cannot be seen clearly for any reason. An unacceptable banknote is one that may have been torn in half or been washed and the colours and design are no longer visible or the paper is pulped.
What are the denominations of british money?
British Coins currently in circulation include the - 1 Penny 2 Pence 5 Pence 10 Pence 20 Pence 50 Pence 1 Pound 2 Pound 5 pound (although it is legal tender, it is not often seen in circulation) British banknotes currently in circulation include the - Five Pound Ten Pound Twenty Pound Fifty Pound
How many coins are used in the british currency?
As at May 2013, the British general circulation coinage consists of - 1 Penny 2 Pence 5 Pence 10 Pence 20 Pence 50 Pence 1 Pound 2 Pound coins. The Five Pound (Crown) coin is legal tender, but is not widely accepted due to its unfamiliarity.
Which British coins are legal tender?
British decimal general circulation coins that are still legal tender include - All years of issue from 1971 of the 1 New Penny and 1 Penny coins. All years of issue from 1971 of the 2 New Pence and 2 Pence coins. The smaller 18mm 5 Pence coins issued from 1990. The smaller 24.5mm 10 Pence coins issued from 1992. All years of issue from 1982 of the 20 Pence coins. The smaller 27.3mm 50 Pence coins issued from 1997. All years of issue from 1983 of the One Pound coins. All years of issue from 1997 of the Two Pound coins. The commemorative Two Pound coins (1986 to 1996) and Five Pound coins (Crown - from 1990 onwards) are considered to legal tender, but many tradespeople and businesses are reluctant to accept them. The Half New Penny and Half Penny coins were withdrawn and demonetised in 1984. The larger 23.6mm 5 New Pence and 5 Pence coins were withdrawn and demonetised in 1990. The larger 28.5mm 10 New Pence and 10 Pence coins were withdrawn and demonetised in 1993. The larger 30mm 50 New Pence and 50 Pence coins were withdrawn and demonetised in 1998.
