How to Exchange Old £1 Coins in the UK: Your Complete Guide

When the UK introduced the new 12-sided £1 coin in 2017, the familiar round pound was withdrawn from circulation. Overnight, millions of coins were no longer legal tender — but that doesn’t mean they’re worthless.

If you’ve still got jars, drawers, or bags of old £1 coins lying around, you’re not alone. An estimated 169 million old round pounds are still out there! This guide shows you exactly how to turn them into spendable money today.

How can I exchange old £1 coins?

Old £1 coins are no longer legal tender, but you can still exchange old £1 coins through specialist services like Cash4Coins. Package your coins, use the step-by-step form to choose Freepost, courier drop-off, or free collection, and receive fast payment straight to your bank or PayPal.

🏦 Why Were Old £1 Coins Withdrawn?

The round pound was introduced in 1983 and served the UK for over 30 years. But by 2017 it had become one of the most counterfeited coins in the world — with around 1 in 30 believed to be fake.

To solve the problem, the Royal Mint launched the 12-sided coin, packed with security features including:

🔎 Micro-lettering

✨ Hologram-style image

🔐 Hidden security feature

The switch made the old coins obsolete, and by October 2017, they were officially withdrawn.

❌ Are Old £1 Coins Still Legal Tender?

Nope — you can’t spend them in shops or deposit them at your bank. But that doesn’t mean they’re worthless. Services like Cash4Coins make it easy to exchange them for real money.

💡 Quirky Facts About Old £1 Coins

• The very first £1 coin in 1983 featured the Royal Arms.

• Some designs, like the 2011 Edinburgh coin, are now collectible and worth more than £1.

• In 2017, the Royal Mint estimated about £1.3 billion worth of old £1 coins were returned — but hundreds of millions are still missing.

• A full bag of 1,000 old £1 coins weighs 8.75kg — that’s about the same as a bowling ball 🎳.

📊 Old vs New £1 Coins

Here’s a quick comparison of the old round pound and the new 12-sided version:

Feature	Old Round £1 Coin 🟠	New 12-Sided £1 Coin ⬢
Shape	Round	12-sided (dodecagon)
Introduced	1983	2017
Security Features	Basic	Advanced (hologram, micro-lettering, hidden tech)
Weight	9.5g	8.75g
Counterfeiting Risk	High (1 in 30 fake)	Extremely low
Legal Tender Today	❌ No	✅ Yes

💷 The Easiest Way to Exchange Old £1 Coins

At Cash4Coins, we make exchanging old £1 coins quick, simple, and hassle-free:

1. Package Your Coins – Gather your old £1 coins (and any foreign coins or notes too).

2. Choose Your Method – Use our step-by-step form (takes less than 30 seconds) to select Freepost, courier drop-off, or free collection.

3. Send Them In – We’ll even provide free packaging for 10kg+ donations.

4. Get Paid – Once processed, your money goes straight to your bank or PayPal.

✔️ No fuss, no wasted coins, no hassle.

⭐ Why Use Cash4Coins?

🚀 Fast payment – Get your money quickly.

💌 Free options – Including Freepost and courier services.

🏢 Any amount accepted – From a handful of coins to sacks weighing over 100kg.

💚 Trusted by charities & businesses – Helping some of the UK’s biggest names.

🔄 Satisfaction guaranteed – Not happy? We’ll return your coins free of charge.

❓ FAQs About Old £1 Coins

Q1. Can I still use old £1 coins in shops?

No, they’re no longer legal tender. Shops, banks, and the Post Office won’t accept them.

Q2. Are any old £1 coins valuable?

Yes! Rare coins, such as the 2011 Edinburgh design, can fetch several pounds each from collectors. Most, however, are worth £1.

Q3. How do I exchange old £1 coins?

You can’t do it at a bank, but services like Cash4Coins make it easy — just send them in, and you’ll get paid.

Q4. Do you accept damaged or foreign coins too?

Yes — Cash4Coins accepts old £1 coins, foreign coins, pre-decimal coins, and even damaged or non-redeemable coins.

Q5. How long does it take to get paid?

Most payments are processed within 48 hours of receiving your coins.

🎯 Final Thoughts

The round pound may no longer be in your pocket, but it doesn’t need to be forgotten. Whether you’ve got a few lying around the house or bags from old fundraising drives, Cash4Coins makes exchanging them fast, easy, and rewarding.

👉 

Start Exchange