From October 16 the old one pound coin will no longer be accepted as legal tender.
You won’t be able to spend them in the shops,but you will be able to exchange the round coins at high street banks or the Post Office. However, you will need to find them first – the Treasury and Royal Mint estimate that there are still 500 million round pound coins out there.
There’s also coins that could be worth considerably more than their face value, so take a note of the five one pound coins you shouldn’t be spending or trading in at the bank, below.
Here’s six places your old round pounds could be…
Wallet or purse
The most obvious places can be the ones we’re least likely to look and with shops still handing out the old pound coins until October 16, it’s worth checking your wallet or purse so you don’t find any once they’re taken out of circulation.
Down the back of the sofa
The classic cliched answer to the question of where you can find loose change, but when was the last time you actually checked down the back of the sofa?
It could be worth checking over the next few days, whether it’s the back of the sofa, under the bed or that old armchair, you may be surprised even if you don’t find any coins…
Winter coat pockets
With the new pound coin not entering circulation until March this year, you may have already put your winter coat away. So in case you’re not planning on pulling it out before October 16, you might want to check the pockets for any hidden coins.
All the top draws
Top draws always seem like a good place to throw any loose change that’s hanging around the house, make sure you root around and maybe you’ll find a few old pound coins before they cease to be legal tender.
Children’s piggy banks
If you’ve got kids it might be worth – if you haven’t already raided them for parking machines – checking their piggy banks to make sure they aren’t left disappointed when it comes round to spending their life savings of £3.25 and an old button. Replace them as soon as possible or it could mean a sulky trip to the bank.
Car glove compartment
Whether it’s the actual glove compartment or any small storage space if your car, you’re bound to be keeping some form of parking change in your motor – see above. Check each nook and cranny and even under the seats before the old pounds are no longer in circulation.
The five old pound coins you should not spend and how much they’re worth
Here are five round pound coins that you shouldn’t exchange or spend as they could be worth a bit more than the face value, according to ChangeChecker.
|Coin||ChangeChecker average price|
|Edinburgh City £1 coin||£12 – £16|
|Cardiff City £1 coin||£11 – £15|
|London City £1 coin||£5 – £8|
|Thistle and Bluebell £1 coin||£3 – £5|
|Crowned Shield £1 coin||£3 – £5.50|