Over the decades coins and banknotes in the UK have changed in their design several times, meaning there are some still floating about that are no longer legal tender.
Whether they're behind the sofa, at the bottom of some drawer or in an old piggy bank there's a chance people have old coins lying around their house.
There are a few ways you can trade them in so that they don't go to waste and can add to your bank account.
What to do with old coins in the UK?
For those who want to trade their old coins and banknotes, there are a few institutions you can go to.
On the Royal Mint website, it says: "Most high-street banks in the United Kingdom are willing to accept demonetised coins from their customers.
"Larger Post Office branches are usually willing to accept demonetised coins in exchange for goods and services.
"Please be aware, however, they are under no legal obligation to do so."
Meanwhile, a spokesperson for the Post Office told Saga Money: “We do still accept ‘old’ pound coins over the counter – but they have to be in good condition. And people can deposit them into their bank account.
“The Post Office has an agreement with over 30 banks and building societies known as the ‘Banking Framework’ which allows customers of these banks and building societies to withdraw cash, deposit cash, deposit cheques or check their balance at any of our 11,500 Post Offices.”
You can check whether your bank or building society participates in this scheme at the Post Office website.
Recommended reading:
- How do I get my old coins valued? Get Royal Mint advice
- The 'extra-special' rare 50p coin named among the Royal Mint's 10 most valuable
- Rare 50p coin fetches £2,500 at auction - see the Royal Mint's rarest coins
Alongside those two main options, you can also donate your old coins to charity.
Many charities actually welcome old coins and banknotes, and you can check their websites on how to send them in.
Alternatively, if some of your coins have rare designs you could sell them online, as some fetch a decent price for collectors.
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here