The deadline day to trade in your Round £1 coins has now been and gone yet it’s estimated that there’s still over 450 million coins in circulation.
However, don’t panic if you didn’t have time to return them to the bank or have found some in a forgotten piggybank, there’s a number of options for you.
Here’s a list of five things you can do with your old Round Pounds to ensure that you don’t lose out:
1. Check if your coin is rare
If you find a Round Pound, the first thing to do is check to see if it’s rare. The most accurate way to determine the rarity of a circulation coin is our Scarcity Index.
From our experience we know that the rarer a coin is, the more desirable it becomes to collectors.
Although they are unlikely to make you rich overnight, some of the rarest circulation £1 coins currently sell for up to £20 on eBay. We’d also expect this to increase slightly now the coins have been withdrawn from circulation.
2. Donate your coin to The RBL Poppy Appeal
The Royal British Legion have announced that this year they’ll be accepting donated old pounds for the duration of their Poppy Appeal.
You can support the Armed Forces community by donating your coins right up until Remembrance Sunday which falls on the 12th November.
3. Return your coin to the bank
You can still deposit your Round Pounds at high street banks but you’ll need to be quick as this is only a temporary measure and at the bank’s discretion.
4. Spend your coin
A number of retailers have announced that they’ll continue to accept the Round Pound even though it is officially no longer legal tender.
Tesco and Poundland have agreed to continue accepting the Round Pound; Tesco for an extra week and Poundland until the 31st October.
The Federation of Small Businesses has also advised its members to continue accepting the round coins to provide a “useful community service” to customers.
5. Swap your coin using the Change Checker Swap Centre
Now that an estimated 1.2 billion Round Pounds have been withdrawn from circulation by the Royal Mint, not forgetting the many thousands that have been added to private collections, it’s become increasingly difficult for collectors to complete their Round Pound sets.
If you find a Round Pound which you do not need, why not list it as available to swap on our Swap Centre? It may well be that it is the exact coin somebody is looking for.
In fact, the Lion of England design was first revealed in 2016 but appeared to be released solely for use with gold and silver bullion coins. However, the design by Jody Clark (the man behind the current Queen’s effigy) met such popular acclaim that the Royal Mint has now confirmed its release in brilliant uncirculated base-metal.
Unprecedented in the modern era
The use of a bullion coin design on a base-metal coin is unprecedented in the modern era, often meaning that some of the UK’s very best coin designs, used on Britannia and Sovereign coins, have simply been too expensive for change collectors to own.
In fact, it is only Pistrucci’s St. George and the Dragon that has ever appeared on a base metal coin, under George VI in 1951, notably at a time when the Sovereign was not even being issued as a bullion coin.
More base metal issues to look forward to
So does this mean that we can expect to see Pistrucci’s St. George and the Dragon and the latest Gold and Silver Britannia Coin designs available in base metal?
Sadly, I think not. But there is some good news for collectors who love Jody Clark’s Lion design.
The Royal Mint has also revealed an accompanying Unicorn of Scotland £5 coin, enabling collectors to own both “supporters” of the Royal Coat of Arms.
Will there be eight more coins to collect?
Whilst the Unicorn of Scotland coin is yet to be released in Silver and Gold it is ear-marked to be part of a continued series of Silver, Gold and Platinum Bullion coins to be issued over 5 years. The set is inspired by the Queen’s Coronation Beasts that lined the entrance to Westminster Abbey for her coronation in 1953.
Currently there is no final confirmation from the Mint, but it seems likely the remaining eight coins will follow in brilliant uncirculated base-metal over the coming 4 years- a definite highlight for base metal collectors. And if the popularity of the precious metal coins is anything to go by, this latest release will be a guaranteed winner with base metal collectors too.
The new Lion of England and Unicorn of Scotland £5 Coins are available to order today in certified Brilliant Uncirculated Condition- CLICK HERE