Author Topic: Royal Mint cupro-nickel replacement programme starts in 2013  (Read 1104 times)

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Offline <k>

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Royal Mint cupro-nickel replacement programme starts in 2013
« on: November 28, 2012, 07:33:58 PM »
In January 2013, the Royal Mint will begin a programme to recover cupronickel five pence and ten pence coins from circulation.

All new five pence and ten pence coins have been made from nickel-plated steel since January 2012 and to date 330 million nickel-plated steel coins have been issued into circulation.

This programme will recover the metal alloy contained in the old specification coins. The value of the metal in both the cupronickel and nickel-plated steel coins is still less than their face value.

HM Treasury and the Royal Mint will continue to ensure that there are enough coins, of the right denominations, to meet public demand. This programme will not affect the number of coins in circulation, and coins made of cupronickel alloy will continue to be legal tender.

No action is needed from the general public or operators of coin-accepting equipment as a result of this programme. If owners of coin-accepting equipment have not adapted their equipment to accept nickel-plated steel coins and wish to do so, the Royal Mint can offer advice on this process.

Similar programmes have successfully been adopted and implemented internationally.


Source: http://www.royalmint.com/discover/uk-coins/cupro-nickel-replacement

Offline <k>

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #1 on: March 13, 2019, 07:20:33 PM »
Recently I received an unusual coin in change here in London. It was a Maklouf 10 pence dated 1992. Of course, it only seemed unusual, because it was so long ago that I'd last received one. The fact that they're turning up very rarely now had passed me by. Out of sight - out of mind.

Offline Alan71

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #2 on: March 13, 2019, 10:33:29 PM »
They’re not as rare as you might think.  I got one the other day.  I’ve seen quite a lot of the older 5p coins as well.  Of the three 5p coins I have in change now, one is 1990 and another 1991.  The third is a steel one (2014).  I’m assuming the cupro-nickel replacement programme ended long ago, but the legacy of it is so many 2014 coins in circulation (plus other dates either side).

Offline <k>

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #3 on: March 13, 2019, 10:52:16 PM »
They’re not as rare as you might think.

But still rarer than you would expect, it seems.

Offline Alan71

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #4 on: March 13, 2019, 10:58:39 PM »
But still rarer than you would expect, it seems.
No, the opposite!  More common than I would expect.  It was never the intention to replace every cupro-nickel coin as they weren’t withdrawing them completely, but the sheer volumes of 2014 coins in particular made me think they were going to have a good crack at it. 

I can only assume that since the programme ended, millions of 5p and 10p coins held in jars etc have been paid into bank accounts and put back into circulation.  This and the lack of new coins issued since the 2016 date has helped to make them more common than they once were.

Not just 5p and 10p but 1p and 2p as well.  At one time it seemed like every coin you got was a new issue with either this or last year’s date.  Now, it’s quite common to see 70s, 80s and 90s coins again.

Offline <k>

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #5 on: March 13, 2019, 11:01:20 PM »
Maybe it's a new trend just starting up then. In the past couple of weeks I've had a Ironside 50p and a Rio Handover 2016 50p. Must be at least 18 months since I had any commems in change.

Offline Figleaf

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #6 on: March 14, 2019, 08:19:31 AM »
Maybe the old coins are not well accepted by machines, so the public has come to avoid them?

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline <k>

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #7 on: March 14, 2019, 11:45:17 AM »
Well, I got my Maklouf 10p from a machine.

Offline Alan71

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #8 on: March 14, 2019, 12:31:05 PM »
Maybe the old coins are not well accepted by machines, so the public has come to avoid them?
There was an issue with some machines not accepting the steel coins when they were first issued (as they are slightly thicker than cupro-nickel in order to match the weight).  This was rectified though.  The machines generally accept both types now. 

I still think it might have been easier for them if they’d just re-sized the coins (again) at the same time they issued them in steel, so they could have withdrawn the cupro-nickel ones altogether (or maybe not... so many non-issues were created when the £1 changed over, that weren’t issues during the 1990s re-sizings, that they perhaps daren’t trust the public anymore).

Offline <k>

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #9 on: March 14, 2019, 12:35:44 PM »
There was an issue with some machines not accepting the steel coins when they were first issued

I see.

Not sure what these non-issues are of which you write. Are they worth putting into a small topic?

Offline Alan71

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #10 on: March 14, 2019, 12:47:51 PM »
You might remember people being surprised that the changeover period was only six months, and that the old coins would apparently be worthless at the end date.  This is exactly what happened in the 1990s, and as there was no internet then, it didn’t seem to be an issue for people then.  OK, so £1 coins are worth more than 5p, 10p and 50p (though probably inflation means spending power of a £1 in 2017 is similar to a 50p in 1998...)

It was as though it had never happened before.  Reaching the age I have now, I’ve seen it and realise that each generation comes along, think they’re the first to experience it, don’t learn from what’s find before then and then try to re-invent the wheel.  But then that’s life in general, not just trivial things like coin changeovers.

I don’t know.  The web should have made everyone more knowledgeable, but it seems to have made many more stupid.  Unless they already were and it was just that I didn’t see it so wasn’t aware of it...

Moan over!

Offline <k>

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #11 on: March 14, 2019, 01:00:32 PM »
I see. I never heard anybody moaning about it or misunderstanding it myself.

Offline FosseWay

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #12 on: March 14, 2019, 02:27:42 PM »
I see. I never heard anybody moaning about it or misunderstanding it myself.

I think this is part of the problem. Stuff starts circulating on social media saying in a falsely authoritative way that "people" are having various problems or expressing surprise/disbelief/anger that they've only got X months to change their old coins, and it becomes a "fact". And not least those who are responsible for the changeover feel compelled to factor in these supposed viewpoints. So I don't find it remotely surprising that you didn't hear anyone moaning - because I don't think significant numbers did moan.

Sometimes I think that the authorities responsible for a given project should just get on with it and call the internet trolls' bluff. It's not like there isn't a tried and tested system for replacing older coin types with new ones; we're not fumbling in the dark here, as we perhaps are when it comes to the implications of new technological advances like AI or cashless finance, or of one-off political decisions like independence or Brexit. If the system for replacing older coins with new ones and then withdrawing the old ones worked in 1971, 1990, 1992 and 1997, the chances are that doing it in much the same way will work now.

Offline <k>

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #13 on: March 14, 2019, 09:07:25 PM »
It's not like there isn't a tried and tested system for replacing older coin types with new ones; we're not fumbling in the dark here. If the system for replacing older coins with new ones and then withdrawing the old ones worked in 1971, 1990, 1992 and 1997, the chances are that doing it in much the same way will work now.

So if you are a 30 or 40-something, and you are tasked with doing something, are you really going to look at how they did things twenty years ago, given how quickly things change? Is there a special "how they did things 20 years ago" department that you can ask for advice? I suppose you could ask old Fred, or whatever his name is, but possibly he has since retired or been made redundant or moved on. Sometimes it is just not that simple. In any case, some things have indeed changed. Banks do some things differently. They don't bag 5p and 10p coins together, for instance. Can individuals still walk in and request a single bag of coins? I'm not sure about that. As for machines, well, we have all these self service tills in supermarkets that weren't around in 1997 or whenever. That's just one example.

Offline FosseWay

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Re: Royal Mint cupro-nickel replacement programme starts in 2013
« Reply #14 on: March 14, 2019, 09:11:46 PM »
That's all true, but you specifically mentioned the reactions of the public, and that was more what I was thinking of. If anything, because of the way we get news and can communicate instantly now, it should be easier (and therefore take less time) to communicate the replacement of coins and the demonetisation of old ones than in those earlier cases.

If you want a more recent example, look at the euro - not just in 2002 but all the countries that have joined since. Rather like with UK decimalisation, the authorities in the eurozone took what turned out with hindsight to be an overly cautious approach, and people got used to the new money much more quickly than expected. That's not a criticism - it is obviously better to be over-prepared than under.