Old pound coins - deadline

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If you've still got any, shops etc. will stop accepting them on the 15th October, just under two weeks away.

This has been a public service announcement :D
 
Steep said:
If you've still got any, shops etc. will stop accepting them on the 15th October, just under two weeks away.
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Not necessarily. They are no longer obliged to accept to accept them, but there's nothing preventing them accepting them if they wish. They can still turn them in to their bank after 15th October.
 
StewartR said:
Not necessarily. They are no longer obliged to accept to accept them, but there's nothing preventing them accepting them if they wish. They can still turn them in to their bank after 15th October.
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Incorrect. Businesses are obliged to accept them until 23:59 on 15th October. Until that time they are legal tender.
 
After 15th October, just send the no-longer-legal-tender £1 coins to me and I'll pay you 50p each for them. :D
 
Tori_T said:
Ooo, trading outside the classifieds. We chop you up and feed you to the hamster for that. :p
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I could do with losing a few pounds (lbs, not £!)
 
A, but I don't think I can do that to you as I don't know whether.
viv1969 said:
Incorrect. Businesses are obliged to accept them until 23:59 on 15th October. Until that time they are legal tender.
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Sorry, I can see that I confused things with my choice of grammar. I wasn't disputing the 15th October deadline. It's just that, after the deadline, shops are not obliged to take them but they may choose to do so for their customers' convenience. I know the owners of several small businesses locally who aren't remotely fussed about the deadline; if they take the coins, they'll go to the bank with all the other coins and banknotes, so no big deal.

After all, shops round here accept those dodgy Scottish banknotes, so the notion of "legal tender" is already a bit academic!
 
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Scottish bank notes aren't even classed as legal tender in Scotland; nor are Bank of England notes. Only Royal Mint coins.
There are many little foibles when it comes to legal tender, such as not being obliged to accept payments any greater than 20p in "copper" coins; so when someone gets the hump and decides to pay a large bill in pennies, the recipient can tell them to naff off.:D
 
viv1969 said:
There are many little foibles when it comes to legal tender, such as not being obliged to accept payments any greater than 20p in "copper" coins; so when someone gets the hump and decides to pay a large bill in pennies, the recipient can tell them to naff off.:D
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When I was a kid there was one amusing exception to this.

The buses in Southend had automatic ticket machines where you dropped your coins into a hopper, pressed the button, and it printed a ticket with images of the actual coins you'd dropped in. Of course it was natural to hoard up pennies and halfpennies and try to get the longest ticket possible, and there was nothing the bus driver could do to stop you. I can't remember the most coins I ever managed to get on one ticket but I think it was probably in the vicinity of 40. (The ticket would have been about 2-3 feet long.)

Here's an illustration of what they looked like:
upload_2017-10-6_13-1-48.png
 
viv1969 said:
Scottish bank notes aren't even classed as legal tender in Scotland; nor are Bank of England notes. Only Royal Mint coins.
There are many little foibles when it comes to legal tender, such as not being obliged to accept payments any greater than 20p in "copper" coins; so when someone gets the hump and decides to pay a large bill in pennies, the recipient can tell them to naff off.:D
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£1 coins are legal tender up to any amount. Can't remember the figures for smaller coins but I expect Google would turn up the correct figures (among the wrong ones, probably!) Bank notes are negotiable currency rather than legal tender.
 
Nod said:
£1 coins are legal tender up to any amount. Can't remember the figures for smaller coins but I expect Google would turn up the correct figures (among the wrong ones, probably!) Bank notes are negotiable currency rather than legal tender.
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I know, I was talking about "coppers". :confused:

viv1969 said:
...., such as not being obliged to accept payments any greater than 20p in "copper" coins; so when someone gets the hump and decides to pay a large bill in pennies, the recipient can tell them to naff off.:D
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Nod said:
£1 coins are legal tender up to any amount. Can't remember the figures for smaller coins but I expect Google would turn up the correct figures (among the wrong ones, probably!) Bank notes are negotiable currency rather than legal tender.
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In England and Wales, notes issued by the Bank of England are legal tender.

Source: http://edu.bankofengland.co.uk/knowledgebank/what-is-legal-tender/

But that page also explains very well what a useless concept "legal tender" is in everyday life.
 
Steep said:
If you've still got any, shops etc. will stop accepting them on the 15th October, just under two weeks away.

This has been a public service announcement :D
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Yet many machines and lockers for gym can only use the old 1 quid coin
 
So are they going to change the pay machines, shopping carts etc that have recently been converted to accept the new pound coin to only accept new pound coins?
 
StewartR said:
In England and Wales, notes issued by the Bank of England are legal tender.

Source: http://edu.bankofengland.co.uk/knowledgebank/what-is-legal-tender/

But that page also explains very well what a useless concept "legal tender" is in everyday life.
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I stand corrected!

The point I was making (missed the smiley!) was that a large bill that you're paying under protest can be settled using a lorryload of pound coins. However, as you point out (or your linked article does) is that even legal tender can be refused. However, your offer to pay using it means that you can't be sued for non-payment, although you may be required to pay the court.

http://www.royalmint.com/aboutus/policies-and-guidelines/legal-tender-guidelines gives the amounts that can be paid with lower denomination coins.
 
Swissy said:
So are they going to change the pay machines, shopping carts etc that have recently been converted to accept the new pound coin to only accept new pound coins?
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The coin checking mechanism has to accept a degree of wear in coins which means they cannot distinguish all coins. German pfennigs were close enough in size and weight to British pennies to work in our machines. Some Polish coins are close to British ones. Anyone owning a coin operated machine gets a selection of wrong coins. You just have to hope there won't be many of them.

In time, the number if old pound coins will drop to nuisance value, in the meantime banks will accept them so I doubt many people will bother with a second adjustment.
 
john.margetts said:
The coin checking mechanism has to accept a degree of wear in coins which means they cannot distinguish all coins. German pfennigs were close enough in size and weight to British pennies to work in our machines. Some Polish coins are close to British ones.
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The current £1 coin is very close to an Argentinian coin according to some of my colleagues...
 
My point is we will still be able to use the old pound coins after the deadline in car parking machines etc etc.
 
In some, possibly. For a while, some machines here only accepted old and some only new with a few accepting both. Those that accept both might continue to do so for a while. Dumb machines such as trolley chains at supermarkets accept both as well as appropriately sized tokens and I'd expect that to continue.
Easiest thing to do will be to keep any old quids you accumulate over the next few months and exchange them for new ones at your bank.
 
One of the car parks we use has 2 machines side by side - one takes old quids, the other new. Presumably they'll remove the old type one in a week or 2.
 
StewartR said:
When I was a kid there was one amusing exception to this.

The buses in Southend had automatic ticket machines where you dropped your coins into a hopper, pressed the button, and it printed a ticket with images of the actual coins you'd dropped in. Of course it was natural to hoard up pennies and halfpennies and try to get the longest ticket possible, and there was nothing the bus driver could do to stop you. I can't remember the most coins I ever managed to get on one ticket but I think it was probably in the vicinity of 40. (The ticket would have been about 2-3 feet long.)

Here's an illustration of what they looked like:
View attachment 111940
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I'd forgotten all about that Stewart.

Happy memories of 2p bus rides in my yoof
 
Our local hsbc will only serve hsbc account holders between 10am and 2pm.
 
Orangecroc said:
The cashier in Barclays tried to tell me I was supposed to use my own bank (she asked if I banked with Barclays, and I told her I did not) to change my old £1 coins to the new ones.
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They seem to be a miserable shower in barclays. I am a customer and I asked in one if I could have some of the loose change polythene bags, they said "oh no sorry". Walked 20 yards up the road to Nat West who I dont bank with and asked for some, they said "no problem how many do you want?"
Why I stay with Barclays I dont really know.
 
Peter B said:
Sign up in the Poundland window today saying they'll take round pounds until the end of the month. (y)
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So will Morrisons.
 
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