What to Do With Old £1 Coins – How to Exchange Round Pounds in the UK

Back in October 2017, the familiar round £1 coin was officially withdrawn from circulation and replaced with the new 12-sided version. The change was made by the Royal Mint to introduce a coin that is more secure and harder to counterfeit.

But what about all the old £1 coins still tucked away in jam jars, piggy banks, cash offices, and glove compartments? The Royal Mint estimates that millions of pounds worth of round pounds are still unaccounted for. If you’ve just discovered a stash of them, you’re probably asking:

• Can I still spend old £1 coins?

• Where can I exchange old £1 coins?

• Do banks still accept round pounds?

• What’s the easiest way to turn old coins into cash?

This guide will answer all your questions and show you the fastest, most reliable way to exchange old £1 coins in the UK.

Can You Still Spend Old £1 Coins?

No. Shops, supermarkets, and vending machines no longer accept the old round £1 coin. They officially lost their legal tender status in October 2017, meaning you cannot use them in everyday transactions.

However, that doesn’t mean they’re worthless. They still carry value and can be exchanged – but the process depends on where you go.

Do Banks Still Take Old £1 Coins?

Some banks may still accept old £1 coins, but this is often limited to:

• Account holders only – you usually need to be an existing customer.

• Branch discretion – not all branches are willing to take old £1 coins.

• Small amounts – large business deposits or bulk collections are rarely accepted.

Because of these restrictions, many people find that banks aren’t the easiest solution – especially if you have a lot of coins or want a hassle-free process.

The Easy Way: Exchange Old £1 Coins with Cash4Coins

At Cash4Coins, we make exchanging old coins simple. We accept:

• ✅ Old round £1 coins

• ✅ Foreign coins and notes

• ✅ Out-of-date and demonetised banknotes

• ✅ Small denomination coins that banks won’t touch

We work with charities, businesses, and individuals all over the UK. Our clients include high street banks, UK airports, police forces, supermarkets, and major national charities. We are trusted to handle currency securely, quickly, and transparently.

How It Works – Step by Step

1. Fill a box with your old £1 coins, leftover holiday money, or foreign notes.

2. Complete our quick online form at Cash4Coins.co.uk.

3. Send your currency to us via Royal Mail or courier.

4. Our team will sort, count, and value your coins.

5. You receive a fast payment directly into your bank account.

It really is that simple.

Why Choose Cash4Coins?

• We accept coins banks refuse – including round £1 coins and foreign currency.

• Fast turnaround – payment direct to your account without delays.

• Trusted by major organisations – including UK airports, banks, supermarkets, and charities.

• Hassle-free process – no need to queue at banks or worry about refusals.

FAQs About Old £1 Coins

Can I still exchange old £1 coins at the bank?

Some banks may still allow this for account holders, but not all branches do.

Do old £1 coins have collector value?

A few rare designs may fetch more than £1 to a coin collector, but the vast majority are worth only face value.

Can I donate old £1 coins to charity?

Yes. Many charities accept foreign coins and old UK coins, often via partners like Cash4Coins. We can process the donation and pay the charity directly.

Is there a deadline to exchange old £1 coins?

No official deadline applies with us. You can send them to Cash4Coins at any time.

Don’t Leave Old £1 Coins Sitting Around

It’s easy to forget about the old round pound coins, but they still hold value. Whether you’ve found a handful in a drawer or thousands in a business cash office, you can exchange them today.

Send your old £1 coins to Cash4Coins and receive fast payment.

Turn forgotten coins into money you can actually use – or even donate them to charity to make a real difference.