Posts Tagged ‘RBL’

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.

It’s estimated that there are still over 450 million Round Pounds still 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.

Our Scarcity Index is the most accurate way to determine the scarcity of your Round Pounds.

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 We’d also expect this to increase slightly now the coins have been withdrawn from circulation.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 RBL will accept donated Round Pounds for the duration of their 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 12^th 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 31^st 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

You can list your Round Pounds as available to swap using our 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Now that an estimated 1.2 billion Round Pounds have been withdrawn from circulation by the Royal Mint, not forgetting the many thousands that have been added to private collections, it’s become increasingly difficult for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.