The larger pre-1990 5 Pence coins were withdrawn from circulation and demonetised in 1991 and are therefore, no longer Legal Tender.
The Royal Mint advises that there is no obligation on banks to accept demonetised coins however, they may probably take any demonetised coins from an account holding member of the public, possibly charging a handling fee.
Coins in Mint condition or Very Good to Excellent condition, may be better taken to a coin dealer.
The larger pre-1991 10 Pence coins were withdrawn from circulation and demonetised in 1993 and are therefore, no longer Legal Tender.
The Royal Mint advises that there is no obligation on banks to accept demonetised coins however, they may probably take any demonetised coins from an account holding member of the public, possibly charging a handling fee.
Coins in Mint condition or Very Good to Excellent condition, may be better taken to a coin dealer.
The British Five Pound coin is legal tender everywhere British currency is legal tender. Many business people are reluctant to accept them because they are an unfamiliar coin.
All British banks will accept for deposit, or exchange the Five Pound coin.
The Post Office has a stated policy of accepting the Five Pound coin in exchange for goods and services provided by the Post Office.
No. The larger pre-1991 5 Pence coins were withdrawn from circulation and demonetised in 1991.
Yes. The smaller 5 Pence coins issued in since 1990 are legal tender.
Yes, most banks will take five pounds of coins as most have coin counters.
The following British decimal coins have been demonetised and are no longer legal tender.Pre-1997 50 Pence coinPre-1991 10 Pence coinsPre-1990 5 Pence coinsThe decimal Halfpenny(?)Banks are under no obligation to accept them, but may accept them from customers with an account on the basis of a one for one changeover.If the coin is in mint condition, you might consider selling it to a coin dealer.
Bank notes are all rectangular and coins are round except for 50 pence and 20 pence which are seven sided.
The Royal Mint provides the following advice on exchanging demonetised coins - ....... once a coin has been demonetised, banks are under no obligation to accept them. Nevertheless, many banks will accept demonetised coins from members of the public providing they have a bank account with them. Policy may vary from bank to bank, and some may charge a handling fee.
If by "banked" you mean deposited in a savings account or exchanged for modern currency, no. All predecimal coins have long been demonetised and are no longer legal tender. Even demonetised decimal coins such as the Half New Penny, the old style 5 Pence, 10 Pence and 50 Pence coins, might only be accepted by a bank from an account holding customer and exchanged for coins of an equivalent value, but banks are under no obligation to do this. If you have predecimal coins that you want to get rid of, and they are in good condition, you may be better off taking them to a coin dealer.
Coins used by the whole UK;- 1pence, 2pence, 5pence, 10pence, 20pence, 50pence, £1 and £2 Bank of England notes used in England and Wales;- £5, £10, £20 and £50 There are seven other banks who issue banknotes in other parts of the United Kingdom. Those notes may or may not be accepted in other parts of the kingdom (They are normally accepted by chain stores but not smaller shops) Bank of Scotland;- £5, £10, £20, £50, £100 Royal Bank of Scotland;- £1, £5, £10, £20, £50, £100 Clydesdale Bank (Scotland);- £5, £10, £20, £50, £100 Northern Bank (NI);- £5, £10, £20, £50, £100 Ulster Bank (NI);- £5, £10, £20, £50 Bank of Ireland (NI);- £5, £10, £20, £50 First Trust Bank (NI);- £10, £20, £50, £100
Prior to demonetising a coin, the Royal Mint gives several months advance notice. If you have demonetised British decimal coins in uncirculated or excellent condition, you may consider taking them to a coin dealer. The Royal Mint advises - .... once a coin has been demonetised, banks are under no obligation to accept them. Nevertheless, many banks will accept demonetised coins from members of the public providing they have a bank account with them. Policy may vary from bank to bank, and some may charge a handling fee. Alternatively, you can keep them and hand them on to your grand children in years to come.
Point 1 - Sixpences converted to 2.5 Pence at the conversion to decimal currency, Shillings converted to 5 Pence.Point 2 - Banks are under no obligation to accept the old 1/2, 5, 10 and 50 Pence coins, much less any pre-decimal coins, and "might" only do so if you are an account holding customer.If your pre-decimal coins are in good condition, you might get more for them from a coin dealer or collector.
If you refer to demonetised British decimal coins, some banks may accept them from account holding customers at face value, but they are under no obligation to do so. Alternatively, you could hang on to them and give them to your grand children in years to come when they might be a novelty, or perhaps even worth something.
The term "new" was only applied to the coins of the British decimal currency from 1968 to 1981 to distinguish between coins of the old currency and coins of the new currency (1 New Penny, 2 New Pence, 5 New Pence, etc). There was no change to the One Pound note at decimalisation and they continued to be called "One Pound" notes. The last Bank of England One Pound note was issued in 1984 and they ceased to be legal tender in 1988.
It is part of the business of a bank to issue and accept deposits of coins. Providing that the coins are sorted into their denominations, bagged and not foreign or obsolete coins, most banks should not have a problem. Many banks now have machines to accept large quantities of coins in exchange for a higher denomination.
No. All British banknotes are made at the Bank of England. The Royal Mint makes the coins.
No French bank will accept French Francs any more. The Franc was phased out in 2001 and replaced by the Euro. Banks accepted to change coins for a year after taht, and notes until 2005.