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New pound coins in 2017

Started by andyg, March 18, 2014, 11:47:34 PM

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malj1

Try spilling your drink on one? ??? maybe coca cola would do it!
Malcolm
Have a look at  my tokens and my banknotes.

Bimat

Surprisingly, these rusted coins don't appear on eBay either...so must not be very common.

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Alan71

They are starting to tarnish though (on the nickel-brass part).  That's normal though as the older 2016-dated coins have been in circulation for four months now and nickel-brass traditionally doesn't take long to lose its freshly-minted appearance.

I'm already finding I'm getting a bit bored of the reverse design though.  We were used to up to 25 different designs of the old £1 coin in circulation.  I hope they start a new series of designs next year.

eurocoin

Quote from: Bimat on July 29, 2017, 03:54:58 PM
Surprisingly, these rusted coins don't appear on eBay either...so must not be very common.

That does not indicate anything at all as the average person would think it is just a badly worn coin and the average British collector does not appear to be interested in this error and so it does not have any value above face value. The fact that it is not precisely known what caused this error also makes that few people are interested in it.

Alan71

That's true actually.  As a collector, I wouldn't be interested in a coin in that state.  If I did get one in change I'd quickly spend it (but then that's me generally - I always spend old, worn or marked coins first and keep the newer, shinier ones until I really have to spend them).

Bimat

According to Royal Mint's estimate, around 500 million old round £1 coins have not been returned yet. There is only one week left to get them exchanged.

Also, Royal Mint is melting down around 1.9 million old £1 coins everyday.

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

onecenter

The Royal Mint will never see my small pile of circulated one pound coins obtained from a friend who traveled to Europe in the late 1980's. :)
Mark

Alan71

I'm getting a bit fed up with the news stories today about the old pound.  These are pretty much the stories the media is hyping:

Poundland are prepared to accept the old pounds after the deadline in case customers still have them.

Shoppers are furious at still receiving old pounds - Tesco self-service tills giving out the old pounds in change and the shoppers being told by Tesco that they can't exchange them for new ones.

Small businesses complaining that the changeover period is short (even though it averages the period for every coin re-issue in the last 47 years).

The Royal Mint telling us 500 million of the old coins are still in circulation.  As they created the Facebook-generation collecting frenzy they shouldn't be too surprised by this.  With 24 different round £1 reverse designs, and the Mint feeding the frenzy by making everyone aware of how uncommon some of them are, do they really expect to get even half of that number back?

I don't remember any of this with the old 50p 20 years ago.  It just quietly disappeared.  This is the first UK coin change in the age of the smartphone/ social media/ mass use of the internet.  Why is it that the more information you give people, the less they use it?


EWC

Quote from: UK Decimal + on April 03, 2014, 02:02:05 AM
My thoughts - perhaps it's time for a rethink on what coins will be needed in the near and not-so-near future.

We have £50, £20. £10 and £5 notes, alongside £2, £1, 50p, 20p, 10p, 5p ,2p,and 1p coins.   Are these suitable for the future?

Are these really your just own thoughts?

My thought is that this is a kind of of propaganda - for someone who wants to encourage inflation

Why would anyone want to do that?

Rob T

Alan71

EWC, the post you're quoting is three and a half years old and the member that posted it doesn't appear to have been active on here in over two years.  Having read the full post that you quoted from, it looks like UK Decimal + was inviting discussion.  Nothing wrong in doing that.

Anyway, there are other topics that have since discussed the future of the 1p/2p/5p and introduction of a circulating £5.

EWC

Quote from: Alan71 on October 09, 2017, 08:42:18 PM
Having read the full post that you quoted from, it looks like UK Decimal + was inviting discussion.  Nothing wrong in doing that.

And I discussed it.  So, what is the problem?   ???

andyg

Quote from: EWC on October 09, 2017, 08:57:04 PM
And I discussed it.  So, what is the problem?   ???

no problem as long as you don't mind not getting an answer!
always willing to trade modern UK coins for modern coins from elsewhere....

EWC

Quote from: andyg on October 09, 2017, 10:40:28 PM
no problem as long as you don't mind not getting an answer!

I travel in hope.  Foolish perhaps - but what else can one do?

Alan71

Quote from: EWC on October 10, 2017, 08:08:32 AM
I travel in hope.  Foolish perhaps - but what else can one do?
I was going to suggest this topic about 1p and 2p coins but looks like you commented in it at the time: http://www.worldofcoins.eu/forum/index.php/topic,30921.0.html

My own thoughts on the matter are that the denominations are fine as they are.  Countries like the US still use their "penny" coin (which is worth less than 1p) and very few countries with comparable currencies to sterling have the five unit as a coin.  The £50 note is hardly seen so we don't need anything higher.

EWC

#404
Quote from: Alan71 on October 10, 2017, 08:16:50 AM
My own thoughts on the matter are that the denominations are fine as they are. 

Good. 

My fear is this.  As I understand it overtly time stamped money was proposed by Gessell, but was actually brought in rather more covertly by neo-Keynsians - by targeting 2% inflation.  That was not a huge problem pre-crash when you could easily get 5% risk free on deposits.

But we are now in a situation when BofE is turning a blind eye to 3% inflation and you can only easily get 1.5% risk free on deposits.  Looks to me like gvt is starting to steal money from the prudent to give to the imprudent (most especially itself).

The idea tacit in the mail I criticised was that inflation is inevitable.  It isnt, and we are reaching a stage where even at 2% in the UK it looks rather undesirable

Rob T