British Coins Confuse Me

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British Coins Confuse Me

Post  jadedragon on Tue Dec 22, 2009 9:58 am

I keep finding UK coins but they come from two different systems. Are the old ones still convertible? Will I be able to buy anything with the many pennies I get in sorting?
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Re: British Coins Confuse Me

Post  uthminsta on Tue Dec 22, 2009 10:58 am

Decimal coins (those with dates 1968 and later) are considered the "current" coins.
Predecimal coins (produced up til 1967 and some collector sets dated 1970) are not convertible. But they are absolutely awesome. I collect British coins; what do you have?
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Re: British Coins Confuse Me

Post  uthminsta on Tue Dec 22, 2009 11:07 am

Also, there were some changes within the decimal system:

50pence was reduced from 30mm to 27mm in 1997.
10pence was reduced from 28.5mm to 24.5mm in 1992.
5pence was recuced from 24mm to 14mm in 1990.
(So old 10pence are sometimes confused for new 5pence.)
The halfpenny was demonetized in 1984.

I do not know this for certain, but I would venture a guess the old sizes are not legal tender now. All my book says is that they were withdrawn.
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Re: British Coins Confuse Me

Post  AGgressive Metal on Tue Dec 22, 2009 12:49 pm

jadedragon wrote:I keep finding UK coins but they come from two different systems. Are the old ones still convertible? Will I be able to buy anything with the many pennies I get in sorting?

The old system is very unique - I'll write an article on how it works sometime. Not only are they not convertible, but even the early decimal coins are also now obsolete (ones that are larger and say "new pence" instead of just "pence").
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Re: British Coins Confuse Me

Post  JTM3_RCM on Tue Dec 22, 2009 12:53 pm

I love British coppers! Especially the 2 pence. I am not completley sure as to whether or not the old sizes are legal tender or not, but every time I go to Britain I recieve and pay in the old and new sizes.

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Re: British Coins Confuse Me

Post  AGgressive Metal on Tue Dec 22, 2009 12:56 pm

JTM3_RCM wrote:I love British coppers! Especially the 2 pence. I am not completley sure as to whether or not the old sizes are legal tender or not, but every time I go to Britain I recieve and pay in the old and new sizes.

Interesting, I guess no one cares if they are technically withdrawn? I don't remember using any of the old sizes when I was there, but I was mostly using one pound coins for beers and credit cards for meals/transportation, so maybe I just didn't watch enough coins.
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Re: British Coins Confuse Me

Post  jadedragon on Tue Dec 22, 2009 2:25 pm

I find them in Canadian change. I've got some new pence - which I guess are actually old now.
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Re: British Coins Confuse Me

Post  Bluegill on Tue Dec 22, 2009 9:00 pm

The UK took the word "new" off of their coinage in `82. As far as I'm aware the penny and the 2 Pence are the only 2 denominations that are still legal tender that can have the word "new" on it.

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Re: British Coins Confuse Me

Post  Pennysaved on Sun Jan 03, 2010 8:04 pm

What made them change their monetary system

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Re: British Coins Confuse Me

Post  AGgressive Metal on Sun Jan 03, 2010 8:13 pm

Pennysaved wrote:What made them change their monetary system

They wanted to move to a decimal (1/100) standard so as to facilitate trade and accounting in other currencies. The old system was complicated and based on 6's, 12's, 24's, etc. That said I think the old system was much nicer and was a 1000 year old tradition.
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Re: British Coins Confuse Me

Post  uthminsta on Sun Jan 03, 2010 10:02 pm

A pound was four crowns.
A crown was five shillings.
A halfcrown was two and a half shillings, or, more obviously, half a crown.
A florin was two shillings.
A shilling was twelve pence.
A groat was four pence.
A penny was four farthings.
Plus there were guineas, broads, sovereigns, unites, double crowns, halfpounds...

This is part of why I love them.
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Re: British Coins Confuse Me

Post  JTM3_RCM on Tue Mar 02, 2010 1:14 am

uthminsta wrote:A pound was four crowns.
A crown was five shillings.
A halfcrown was two and a half shillings, or, more obviously, half a crown.
A florin was two shillings.
A shilling was twelve pence.
A groat was four pence.
A penny was four farthings.
Plus there were guineas, broads, sovereigns, unites, double crowns, halfpounds...

This is part of why I love them.

I wish the United States had a more intricate system like this. Maybe we wouldn't have elected so many bums if our brains actually had to work in daily exchanges.

Ponce was right when he said simple math games can sharpen the mind.

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Re: British Coins Confuse Me

Post  bullionstore on Tue Apr 26, 2011 6:11 am

Well, nice information posted here about coin........thanaksss
Gold investment | Buyers of scrap gold | Buy and sell gold

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