Model Boat Mayhem

Mess Deck: General Section => Chit-Chat => Topic started by: TailUK on October 11, 2017, 02:16:41 pm

Title: £1 coins - How many have thought of this?
Post by: TailUK on October 11, 2017, 02:16:41 pm
A chap at work brought his niece's money box (terracotta) in hoping we could get the money out without breaking it.  We did actually get into it and kept it intact and recovered £147 in old pound coins. 
Don't forget those money boxes! Your grandkids or nephews and nieces may have loads of coins that could become worthless after the 15th.  Wouldn't hurt to check.
Title: Re: How many have thought of this?
Post by: gingyer on October 11, 2017, 02:33:24 pm
They won’t become worthless
The Bank of England is duty bound to take them forever
And swap them out.

Title: Re: How many have thought of this?
Post by: TailUK on October 11, 2017, 03:19:20 pm
As far as I can tell some banks will continue to accept them but are under no obligation. Easier to try and exchange them before Sunday.
Title: Re: How many have thought of this?
Post by: C-3PO on October 11, 2017, 03:28:23 pm
Spoke to staff just last week at High Street Barclays Bank - "we will take them indefinitely" was the response

C-3PO
Title: Re: How many have thought of this?
Post by: TailUK on October 11, 2017, 03:38:54 pm
Then what's the point of everyone saying get rid of them by the 15th?  Everywhere I shop there are notices saying change your pound coins. If banks are going to accept them indefinitely why make a fuss about turning them in by a certain date.
Title: Re: How many have thought of this?
Post by: DavieTait on October 11, 2017, 03:50:09 pm
its to try and get 99% of them out of circulation in the fastest time possible I'd guess
Title: Re: How many have thought of this?
Post by: T33cno on October 11, 2017, 03:53:59 pm
Its just that they are not accepted in shops from then nothing more
Title: Re: How many have thought of this?
Post by: Netleyned on October 11, 2017, 03:54:43 pm
If you have any left
Stick em in the nearest Lifeboat Box.


 :-)) :-)) :-)) :-)) :-)) :-)) :-))


Ned
Title: Re: How many have thought of this?
Post by: T33cno on October 11, 2017, 03:59:26 pm
If you have any left
Stick em in the nearest Lifeboat Box.


 :-)) :-)) :-)) :-)) :-)) :-)) :-))


Ned
Nice idea or air ambulance  :-))
Title: Re: How many have thought of this?
Post by: TailUK on October 11, 2017, 04:02:01 pm
I can live with that!
Title: Re: How many have thought of this?
Post by: Netleyned on October 11, 2017, 04:11:44 pm
Something most RN ships did on returning from deployment.
All the old shrapnel/shekels went to banks to give to all sorts
of charities.
Most ships also funded a Guide Dog each commission.


Ned
Title: Re: How many have thought of this?
Post by: BFSMP on October 11, 2017, 04:35:11 pm

Its just that they are not accepted in shops from then nothing more


ahh, beg to differ.............


such stores as Poundland, Home Bargains and a couple of other large cheap stores are going to accept them as "legal" tender for a period of time so that those on low income and use the stores named, will be able to spend them until they become "extinct"...........the coin that is, not the store, lol.


Jim.
Title: Re: How many have thought of this?
Post by: T33cno on October 11, 2017, 04:36:19 pm
Yes that’s their prerogative  :-))
How good it Poundland  {-)  how apt
Title: Re: How many have thought of this?
Post by: Netleyned on October 11, 2017, 04:39:13 pm
Fleetwood
Lifeboat better than poundpoo
Ned
Title: Re: How many have thought of this?
Post by: T33cno on October 11, 2017, 04:40:05 pm
 {-)
Title: Re: How many have thought of this?
Post by: BFSMP on October 11, 2017, 04:59:27 pm

Fleetwood
Lifeboat better than poundpoo
Ned


ahhh, home bargains and poundland do a very good line in cheap bog paper..........don't be misguided on their quality.and every penny counts when you on a tight pension, lol.


Jim.
Title: Re: How many have thought of this?
Post by: T33cno on October 11, 2017, 05:00:45 pm

ahhh, home bargains and poundland do a very good line in cheap bog paper..........don't be misguided on their quality.and every penny counts when you on a tight pension, lol.


Jim.


But have noted how many sheets per roll? Not always a bargain  {-)
Title: Re: How many have thought of this?
Post by: BFSMP on October 11, 2017, 05:06:02 pm
enough for me to write my shopping lists on,  {-) {-) {-)
Title: Re: How many have thought of this?
Post by: roycv on October 11, 2017, 06:15:19 pm
Hi all, maybe it is because as much as 40% of them are forgeries, the new ones are more difficult to duplicate.
regards Roy
Title: Re: How many have thought of this?
Post by: Colin Bishop on October 11, 2017, 06:22:27 pm
I thought it was 1 in 10 that are forgeries. 40% seems way over the top.

Colin
Title: Re: How many have thought of this?
Post by: BFSMP on October 11, 2017, 06:50:22 pm

Hi all, maybe it is because as much as 40% of them are forgeries, the new ones are more difficult to duplicate.
regards Roy


but who wants to forge toilet paper {:-{ %% %% %%


jim.
Title: Re: How many have thought of this?
Post by: unbuiltnautilus on October 11, 2017, 07:00:10 pm

but who wants to forge toilet paper {:-{ %% %% %%


jim.


True, it would be quicker to run a copy of the Daily Mail/Guardian ( delete where applicable! ) through a sewing machine, creating those little perforations, just right for tearing off to .....anyway, I have heard that banks may eventually only take them back in £20 bags of old coins.
Title: Re: £1 coins - How many have thought of this?
Post by: ballastanksian on October 11, 2017, 09:42:08 pm
Good idea, cut those newspapers up and thread them on string for the out house! I think Pound coins became so easy to forge that it became a dark industry. One thing against the new coin as regards forgery is that it doesn't have the indented script and milling around the edge, though this did not deter forging of the old pound coins!
Title: Re: £1 coins - How many have thought of this?
Post by: roycv on October 11, 2017, 11:24:25 pm
Hi Colin, I think it has gone over 10 % years ago. I heard that figure as 'up to 40 %' on the radio a while back, can't authenticate it a :D part from that though.

I think it is the economic implication that the B of E need to have control of the coins in circulation.  I have often had a pound coin that looked less than right.
regards, Roy
Title: Re: £1 coins - How many have thought of this?
Post by: BrianB6 on October 12, 2017, 07:26:43 am
There was an article on BBC News that bank notes have a design on them to prevent photocopying and that a message should come up that 'you cannot copy banknotes'.  {-)
Tried it with a $20 note and it printed quite well! Tore it up straight away.  :police:
Mind you, our notes have so many features embedded that a forgery would be pretty difficult.
Title: Re: £1 coins - How many have thought of this?
Post by: LJ Crew on October 12, 2017, 07:37:04 am
Hi Brian, is that the inverted Melbourne, or the real one in Yorkshire?
Title: Re: £1 coins - How many have thought of this?
Post by: Martin [Admin] on October 12, 2017, 08:47:52 am
 
Girl in shop said they are seeing lots of fake, but quite good quality, Fivers.

 ...... thought they were fully counterfeit proof?!
Title: Re: £1 coins - How many have thought of this?
Post by: roycv on October 12, 2017, 09:23:35 am
Some years ago there was a panic withdrawal of the £20 note as there were a lot of forgeries about to come into the UK.  People would refuse to have them and I remember that no one trusted the note for some time.
Roy
Title: Re: £1 coins - How many have thought of this?
Post by: Martin [Admin] on October 12, 2017, 09:32:58 am
 
Same with the £50 note.

Title: Re: £1 coins - How many have thought of this?
Post by: grendel on October 12, 2017, 11:10:13 am
From the royal mint website:-
The Royal Mint regularly conducts surveys to estimate the level of counterfeit £1 coins in the UK. A survey undertaken in May 2015 found that the rate of counterfeit UK £1 coins in circulation at the time was 2.55%, compared to 3.03% in May 2014.
Title: Re: £1 coins - How many have thought of this?
Post by: roycv on October 12, 2017, 11:42:09 am
Hi Grendel, I stand corrected.  I would think that if 1 in 40 was fake I saw more than my fair share.  The new coins came in very quickly as many of the machines were not prepared for the changes.  Glad we never went over to the Euro!
Title: Re: £1 coins - How many have thought of this?
Post by: Guy Bagley on October 12, 2017, 11:45:45 am
i have issues in my neck of the woods with scottish notes,


i do the commute from west london to  company offices in edinburgh  quite frequently now


i often return with one or two scottish bank notes...


well i have lost count now the number of times daft people near my home have said they 'cant' or 'wont' accept a scottish bank note....


i bought a pint recently in the pub and handed over a scottish £10 to the bar staff..... i got my change and took my pint...


10 mins later when i was sat drinking my pint when the bar manager and the bar staff member came wandering over with my scottish £10 note and told me i needed to give them ' legal tender' to pay for my drink !!!
i made alot of noise and told them it was legal tender and they should keep the scottish tenner.. we had a heated discussion for 5 minutes over the issue, i drank my pint and left, they really were not happy !


wierd huh, narrow minded idiots !
Title: Re: £1 coins - How many have thought of this?
Post by: Martin [Admin] on October 12, 2017, 11:54:51 am
 
But you don't feel strongly about it do you Guy?!  :kiss:
 
Title: Re: £1 coins - How many have thought of this?
Post by: TheLongBuild on October 12, 2017, 01:40:20 pm
 
The legal position with regard to Scottish Banknotes is as follows:
Scottish Banknotes are legal currency – i.e. they are approved by the UK Parliament.  However, Scottish Bank notes are not Legal Tender, not even in Scotland.  In fact, no banknote whatsoever (including Bank of England notes!) qualifies for the term 'legal tender' north of the border and the Scottish economy seems to manage without that legal protection.

HM Treasury is responsible for defining which notes have ‘legal tender’ status within the United Kingdom and the following extract from Bank of England’s website may help to clarify what is meant by “legal tender” and how little practical meaning the phrase has in everyday transactions.

https://www.scotbanks.org.uk/banknotes/legal-position.html
Title: Re: £1 coins - How many have thought of this?
Post by: Neil on October 12, 2017, 01:51:32 pm

i have issues in my neck of the woods with scottish notes,


i do the commute from west london to  company offices in edinburgh  quite frequently now


i often return with one or two scottish bank notes...


well i have lost count now the number of times daft people near my home have said they 'cant' or 'wont' accept a scottish bank note....


i bought a pint recently in the pub and handed over a scottish £10 to the bar staff..... i got my change and took my pint...


10 mins later when i was sat drinking my pint when the bar manager and the bar staff member came wandering over with my scottish £10 note and told me i needed to give them ' legal tender' to pay for my drink !!!
i made alot of noise and told them it was legal tender and they should keep the scottish tenner.. we had a heated discussion for 5 minutes over the issue, i drank my pint and left, they really were not happy !


wierd huh, narrow minded idiots !


having BEEN going to Scotland for holidays since I started motorcycling at 16, 50 years ago I have been bringing Scottish notes back for years, and the same old jokes from micky mouse to monopoly money often rears its head with arguments from small time people who probably have never been more than 10 miles from where they live.........usually as you say Guy, in pubs in the countryside, where they seldom get Scottish visitors...........I usually take a gulp of my pint before handing them the note...............if they argue, then I say it's the only money I have on me so you can either have the pint back, accept the note or its a free pint and I'll go home.........it's never been a free pint yet, I can tell you, lol. {-) {-) {-)
Title: Re: How many have thought of this?
Post by: smudger1309 on October 13, 2017, 04:02:53 am

How good it Poundland  {-)  how apt



they sell some pretty good strong super glue get 6 for your old or new pound coin  :}