31 July 2020, 10:43

One Pound Coin Worth

The Royal Mint has revealed millions of old pound coins have still not been handed to banks.

As coins come in they are poured into a large bucket on the kitchen floor (that Lila would love to get rid of). There are usually about 100 or so coins to the pound, depending on the mix. Most coins are circulated. These lots are as unsorted. As the orders come in the coins are scooped up, weighed and bagged. The old pound design, with a round edge, was withdrawn on 15 October 2017 and replaced with a new 12-sided coin. Yet millions of old pounds coins are still turning up in piggy banks and down the backs of sofas. If you have a hoard of old pound coins, Which? Explains how to trade them in – and how to check if they’re rare or valuable. The rarest old pound coin in circulation is the Edinburgh £1 released six years ago, which was part of a series depicting the official badges of UK capital cities. This coin, which is selling for. After more than 30 years in the nation’s pockets, the familiar round £1 coin was replaced with an all new, 12-sided £1 coin in 2017. MORE than £120million worth of old pound coins are still missing three years after they stopped being legal tender. The Royal Mint said that while over the last three years £1.58billions worth of old pound coins were returned, 122 million were never sent back.

Three years after the new £1 coins were introduced, 120million of the old version are still missing.

According to The Royal Mint, while £1.58billion old pound coins have been returned since 2017, 122 million have never been sent back.

But if you find one in your piggy bank, don’t throw it away, as the Mint states they can still be deposited at most high street banks.

This comes after the 12-sided £1 was introduced in October 2017 in a bid to crack down on counterfeit money.

The Mint described the new shape as the most 'secure in the world' and has a hologram, and micro-sized lettering inside both rims.

It is also made with a material which can be detected when electronically scanned by coin-counting machines.

A Royal Mint official said their 'internal records show since 2017 approximately 1.45m counterfeits have been returned, though this is a significant underestimate.

'They could not be readily distinguished from the genuine coin, which is why a new coin was introduced.'

Over the past three years, about 138m round £1 coins have been melted down to help create some of the new ones.

Meanwhile, as the UK continues to move to cashless, the Royal Mint has branched out into jewellery design.

Last year, production started on a range of pieces costing between £80 and £2,000 made by using traditional coin-pressing techniques.

Business development engineer Daniel Thomas said at the time: 'Because we're used to working with precious metals, the minting process lends itself to making some of those components.

One Pound Coin Values

'We've also introduced some new crafting processes and coupled those together to develop a new range.

Old Pound Coins Value

Old Pound Coins Post Office

'We've got over 1,100 years in manufacturing coins so it is a step change but we utilise the same quality inspection and pride in craftsmanship manufacturing and applied that to jewellery.'