31 July 2020, 10:43

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

• The Old £1 Coins The old style £1 coin was introduced in 1983 to replace the Bank of England £1 note, which remained in circulation alongside the coins until 1988. Many different reverse designs were used on the original £1 coin, alternating design themes each year for the UK, Scotland, Wales, Northern Ireland and England.
• One Full Pound of Coins (that’s over 100 coins on average) About Half by weight will be United States Coins and Half World Coins The U.S. Coins all date prior to 1970 some dating back over 100-years old All Lots will contain at least several Silver Coins $$$ EXTRA! “Valuable Bonus Coins” Read All About It!
• The coin is king at the Poundland chain of shops, and 850 stores around the country will continue to accept the old pounds. Branded the 'Legal Tender Extender', the initiative runs until 31 October.

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.

Old 1 Pound Coins Selection Circulated 1983 - 2019 Round £1 Coin Hunt. £2.65 to £13.95. OLD ROUND £1 ONE POUND COIN CAPITAL CITIES RARE EDINBURGH. The Old English pound was a unit of weight, initially equated with the Ancient Roman weight called libra, which explains why the monetary sign in English is still ‘£’, the letter ‘L’ as the initial of libra. We exchange both British Pound coins and banknotes, and we also accept withdrawn Pound Sterling banknotes.

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.

Old Pound Coins Value

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.

Old Pound Coins

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.

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

Old Pound Coins Change

'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.'