New pound coins in 2017

[augsburger]

In some Euro countries I believe you can still exchange coins.

[Alan71]

The 6 months cut off is presumably the date after which you'll no longer be able to use them in shops..... There is usually a longer date in which to change them at banks.

I don't think that's ever been the case in the U.K. before though, unless they make an exception for the pound.  The old 50p coin couldn't be exchanged anywhere after Feb 1998, other than charities that took old coins (not quite sure what they do with them though, unless they return them to the Royal Mint for the cupro-nickel to be recovered and the charities get the money back).

[andyg]

http://www.royalmint.com/help/help/how-can-i-dispose-of-demonetised-coins

[chrisild]

In some Euro countries I believe you can still exchange coins.

Right, in Slovenia you can take your time ... until the end of this week. In Spain the period ends in 2020. Austria, Estonia, Germany, Ireland, Latvia, and Lithuania have unlimited redemption periods for pre-euro coins. But I guess such periods are longer (or unlimited) because it is not just one denomination that is taken out of circulation. And judging from the link that Andy posted, the BoE does not provide such a redemption service for coins at all. If the Royal Mint does not do it either, well ...

Christian

[Alan71]

http://www.royalmint.com/help/help/how-can-i-dispose-of-demonetised-coins

"How can I dispose of coins no longer in circulation?"

"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."

That's rather half-hearted of the Royal Mint isn't it?  They should take some responsibility and actually have a proper policy on this, and be actively encouraging the banks to accept the coins.  What's bizarre is that the Mint is currently, or has in recent years, undertaken a cupro-nickel recovery program for 5p and 10p coins issued prior to 2011, resulting in nearly all such coins remaining in circulation being dated 2013 or later.  As the old size 5p, 10p and 50p coins are all in cupro-nickel, surely they would want these coins returned?

[FosseWay]

Right, in Slovenia you can take your time ... until the end of this week. In Spain the period ends in 2020. Austria, Estonia, Germany, Ireland, Latvia, and Lithuania have unlimited redemption periods for pre-euro coins. But I guess such periods are longer (or unlimited) because it is not just one denomination that is taken out of circulation. And judging from the link that Andy posted, the BoE does not provide such a redemption service for coins at all. If the Royal Mint does not do it either, well ...

Christian

In those countries, is it only the coins that were in use immediately before the introduction of the euro that are covered by the indefinite redemption? I guess in the case of Austria, Germany (1948) and the Baltic States (1992) the introduction of the immediately pre-euro currency coincided with such major political upheavals that it is legally reasonable to argue that there is no relevant currency further back than that. But that's not true of Ireland, where the equivalent date is 1928. Can you redeem £sd Irish coinage, or decimal halfpennies and large-size 10ps and 5ps? And even in the others, there are in all cases (I think) coins that have been issued under the auspices of the immediately pre-euro currency systems that were no longer legal tender when the relevant country joined the euro. Are these covered?

[Bimat]

The article above has been embargoed until 1 Jan 2017.

"This article was taken down on 25 December 2016 due to it having broken an embargo. The article will be republished at 00.01 on 1 January 2017."

Try this instead:

http://newstimes.ddns.net/news/new-12-sided-1-coin-to-enter-circulation-on-28-march?uid=29152

I'm really surprised to see that they had to take it down! This is precisely the reason why I always copy paste the contents of the news in any topic (with mention of the source, of course), and not just the link. Was very bored yesterday so didn't do it, and they took it down! Murphy's Law in the picture again!

Aditya

[chrisild]

In those countries, is it only the coins that were in use immediately before the introduction of the euro that are covered by the indefinite redemption?

"Pre-euro" refers to the coins that were in circulation at the time of the changeover. Whether other/older coins can be redeemed, varies from country to country of course. In Austria for example you cannot get euro cash for the older (silver) 5 and 10 schilling coins any more. In Germany, all coins from this country (Federal Republic of G.) except for the 2 DM piece from 1951 can still be redeemed, regardless of when they were taken out of circulation. Coins from other countries (DDR, Deutsches Reich, Saarland) are worthless ... except for collectors.

As for Ireland, the central bank does exchange older coins too. According to this page, that is. However, dare not give them grubby and filthy money. "Loose Pre-decimal coinage and 1/2p coins must be separated from other coinage, for exchange at the Bank. Staff may refuse to handle coinage that contains foreign objects, is dirty or contains a mixture of Pre and Post decimal coinage."

Christian

[eurocoin]

The 2017-dated coin sets contain the new 12-sided 1 pound coin. These sets will already be shipped next week so the issuance of the piece has now started (though not yet for circulation).

[Alan71]

Just ordered it.  Prices appear to be the same as last year, but fewer coins in them I think.

[Bimat]

Definitive BU set for £30, Annual BU coin set (with commemorative coins included) for £55. I'm not even looking at prices of proof sets now!

Aditya

[Alan71]

Definitive BU set for £30, Annual BU coin set (with commemorative coins included) for £55. I'm not even looking at prices of proof sets now!

Aditya

Just 10 years ago (2007) you could get a nine-coin BU set for £14.95.  This included two commemorative £2 coins and a commemorative 50p, but the standard versions weren't included (this was before the "jigsaw" Royal Arms so standard designs could be left out). 

The corresponding proof set for that year (12 coins: the nine of the BU set plus £5 and standard £2 and 50p) could be bought for £39.95.  Even 2011 - the first year of inclusion of the £5 coin in BU sets - prices were still reasonable.  This was the last year I got both the BU set and proof set.   

I know things change and the Facebook "let's see if we can make a quick buck" generation together with the Royal Mint converting to a private limited company has changed everything, but if everything else had gone up at the same rate coin sets have, we'd all be in poverty now!

[Figleaf]

You are right on inflation:

£14.95 in 2007 is the equivalent of £19.58 today.

http://inflation.stephenmorley.org

But if everything else (including salaries) had gone up with the same speed, you'd not have been in poverty (unless you had big savings in the bank and no income) and the coin sets would have cost the same in terms of purchasing power. Only the pound would have been at say 25 eurocents. The Daily Mail would report on plans for a new pound, worth 10 old pounds, which the government would deny having. The 1, 2, 5 and possibly 10 pence pieces would have been superfluous and the other denominations would probably have been downsized and a 5, 10 and 20 pound circulation coin would have been introduced.

Peter

[FosseWay]

Are you sure you've posted in the right thread, Peter? Don't you mean Predictions for 2017? 

[kena]

There are reports from folks who visited the Royal Mint Experience that the pound coin that is being struck now is the new pound coin.