What should you do with your old coins and bank notes? 6 Top Tips

As we move towards a more digital and cashless society, many of us may find ourselves with a collection of old UK coins and banknotes that we no longer have any use for. Whether you've inherited them from a relative, stumbled upon them during a spring clean, or simply have a pile of loose change lying around, there are several options available when it comes to what to do with your old UK currency.

In this blog post, we will explore some of the best ways to dispose of your old coins and banknotes, from selling or donating them to collectors, to exchanging them for new currency or using them for a good cause.

1. Check for Rare or Valuable Coins
Before you decide to get rid of your old UK coins, it's worth taking the time to check if any of them are rare or valuable. Some coins, such as the 50p pieces released to commemorate the London Olympics or the Kew Gardens 50p, can fetch a high price from collectors.

You can use online resources such as the Royal Mint website or specialist coin collecting websites to check the value of your coins. If you find any that are worth more than their face value, you may want to consider selling them to a coin dealer or collector for a profit.

2. Donate to Charity
If you have a collection of coins that are not particularly valuable but you no longer have any use for, consider donating them to a charity. Many charities accept donations of old coins and banknotes, which they can then exchange for money to support their cause.

You can either donate your coins directly to a charity shop or contact a charity that specializes in collecting old currency, such as the Royal British Legion's Poppy Appeal.

3. Exchange Them at the Bank
If you have a large amount of old coins or banknotes that you want to get rid of quickly, one of the easiest options is to exchange them at your local bank. Most high street banks will accept old UK coins and banknotes for exchange, although some may charge a fee for this service.

You can simply take your old currency to the bank and request to exchange it for new notes or coins. This is a convenient option if you want to get rid of your old currency quickly and easily.

4. Sell Them Online
If you have valuable coins or a large collection of old UK currency that you want to sell, consider listing them for sale on online auction sites such as eBay. There are many coin collectors and enthusiasts who are always on the lookout for rare or unusual coins, so you may be able to make a good profit by selling your old coins online.

Make sure to take clear and detailed photos of your coins, and provide accurate descriptions to attract potential buyers.

5. Use Them for Crafts or DIY Projects
If you're feeling creative, you can use your old UK coins and banknotes to create unique crafts or DIY projects. For example, you could glue coins onto a picture frame or a vase to create a decorative border, or use them to make jewelry such as necklaces or bracelets.

Banknotes can also be used in crafts, such as decoupage or paper mache projects. By repurposing your old currency in this way, you can give it a new lease of life and create something beautiful and unique.

6. Keep Them as a Souvenir
If you have a sentimental attachment to your old UK coins and banknotes, you may want to consider keeping them as a souvenir or memento. Old currency can hold a lot of nostalgia and history, so holding onto it can be a way to preserve memories of a past trip or event.

You could display your coins in a shadow box or frame, or keep them in a special jar or container to look back on in the future. By keeping your old currency as a souvenir, you can continue to appreciate its value in a different way.

In conclusion, there are many options available when it comes to what to do with your old UK coins and banknotes. Whether you choose to sell them to collectors, donate them to charity, exchange them at the bank, use them for crafts, or simply keep them as a memento, there are plenty of ways to dispose of your old currency in a meaningful and responsible manner.

By taking the time to explore these options, you can ensure that your old coins and banknotes are put to good use and continue to hold value for years to come.

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