Pound coin being replaced in 2017

[Arzosah]

This news had escaped me but the last pound coins in their present format have already been produced: http://www.independent.co.uk/news/busin ... 77266.html

I have quite a few in my stashes around the house .... one more job to keep the stashes up to date!

[Alloneword]

This news had escaped me but the last pound coins in their present format have already been produced: http://www.independent.co.uk/news/busin ... 77266.html

I have quite a few in my stashes around the house .... one more job to keep the stashes up to date!

Personally i'd hang on to at least £100 worth, as the article says it will take years to update machines, so well worth hanging on to them, me i'll keep £100 in old £1 and £100 in new £1 when they come out, never know when it may come in handy

All1

[Stasher]

Aha I thought, I'll look up the royal mint
http://www.royalmint.com/newonepoundcoi ... -questions
and see what they have to say about when the current pound coin is no longer legal tender and they said
We are currently undertaking further work with the cash handling industry to model the withdrawal process. Precise dates for the introduction and co-circulation period will be confirmed following on from this.
oh good, that clears that query up then ......................

[Arzosah]

Nothing like pooling our research, thanks guys I may have got a little ahead of myself there

[gunner7]

I'm going to have to remember that date - I've got a couple of savings tins full of them! They're in the tins you need a tin opener to get at your cash. Helps stop me dipping to my savings when I want a few extra quid!

[Deeps]

I'm going to have to remember that date - I've got a couple of savings tins full of them! They're in the tins you need a tin opener to get at your cash. Helps stop me dipping to my savings when I want a few extra quid!

We've got a clay(porcelain or whatever) one from Greece that's pretty full of 1 and 2 pound coins, there's a fair few notes in it too, there must be several hundred quid in it but Her Maj is determined to wait until its full (its not that far away) before breaking it, I can maybe use this as ammunition to speed up the process.

[yorkshirewolf]

Even after they're no longer legal tender it doesn't matter as you can take then into your bank and they'll swap them or pay them in.

Legal tender only means in won't be accepted in shops, like with Scottish notes, they're not technically legal tender in the UK, shops aren't under any legal obligation to take them, but most do as it's still classed as sterling.

A mate recently had his mother pass away and they found about £600 in old 20's stashed around the house, some English, some Scottish! It was behind cupboards, radiators, backs of drawers... The old 'uns do like to stash cash don't they?!

Anyway, he took it into his bank and explained the situation and the teller told him it was quite common, paid it in no problem.

as the older generations who have cash to stash drop-off i'm sure it'll get less common though, lets face it, most youngsters now don't even know what saving is - it's all on credit!

So if in 50 years your kids/grandkids come across a buried prepper jar of old pound coins, don't worry they'll still get a nice little windfall.

[Decaff]

as the older generations who have cash to stash drop-off i'm sure it'll get less common though, lets face it, most youngsters now don't even know what saving is - it's all on credit!

not just the younger generations, my brother who earns over £90k a year and his wife who earns good money also, admitted that they have no savings, no pensions, no nothing and struggled to pay the mortgage (a small new build 2 bed) and drowning in credit card debt!! Her embarrassing retort was "we choose to have a lifestyle instead" Their eyebrows shot up when I told them on my meagre earnings that I had a good amount of savings, a pension and not one penny of debt, my reply was, I choose to live within my means and not waste money on nonsense consumer junk.

So if in 50 years your kids/grandkids come across a buried prepper jar of old pound coins, don't worry they'll still get a nice little windfall.

I think my son is hoping I continue to add paper money to the hidden cash box, I do try to add at least £20 per month and its building up nicely.

[jansman]

My brother is the same Decaff. He has gone boom to bust and back again. We have just p!odded along and have the house paid, a moderate pension each, moderate savings and no debt . And a stash of old style pound coins!!

[yorkshirewolf]

not just the younger generations, my brother who earns over £90k a year and his wife who earns good money also, admitted that they have no savings, no pensions, no nothing and struggled to pay the mortgage (a small new build 2 bed) and drowning in credit card debt!! Her embarrassing retort was "we choose to have a lifestyle instead" Their eyebrows shot up when I told them on my meagre earnings that I had a good amount of savings, a pension and not one penny of debt, my reply was, I choose to live within my means and not waste money on nonsense consumer junk.

Yeah it's frightening the mentality some people have, i used to know a guy who worked in the city who was on 140 grand a year, his wife on 35 grand a year, yet every year he waited for his bonus to pay off credit cards.
But he had a new car on finance every year - and always something ridiculous - a new 110 Defender at one point, to drive to the train station and back every day

It was all about keeping up with the Joneses and appearing wealthy and successful, but it was all on credit, loans, mortgage up to the buffers...

Fur coat and no knickers my mother calls it.