Where Can I Exchange Old Round £1 Coins in the UK?
Posted by: Ian Stainton • 17 Sep 2026
Found an old round £1 coin at the back of a drawer, in a money box or amongst a collection of loose change?
You’re not alone.
The old round pound disappeared from everyday use several years ago, but millions of people still come across them in drawers, savings jars, old handbags, car glove compartments and charity collections.
The important question is: can you still exchange old round £1 coins for cash?
Yes. Although the old round pound is no longer legal tender and cannot be spent in shops, there are still ways to convert these withdrawn coins into usable money.
At We Buy All Currency, you can exchange old round £1 coins for cash through our online currency exchange service.
We accept the different designs of the old round pound and show you the exchange value before you send your coins.
Can You Still Exchange Old £1 Coins?
Yes.
The familiar round £1 coin was withdrawn from circulation on 15 October 2017, when it was replaced by the newer 12-sided £1 coin.
That means you can no longer walk into a shop and spend an old round pound as normal.
However, being withdrawn from circulation does not automatically make the coin worthless.
The Royal Mint states that old round £1 coins may still be deposited into accounts at many UK high-street banks, although individual banks can set their own rules and deposit limits.
The Royal Mint itself does not provide a public exchange service for old round pound coins.
Alternatively, specialist currency exchange services such as We Buy All Currency allow you to exchange them without relying on your bank.
Where Can I Exchange Old Round Pound Coins?
If you have old £1 coins, you have several possible options.
Your Bank
Some UK banks may accept old round pound coins from their own customers and credit the value to their bank account.
However, arrangements vary between banks. Some may impose limits, require the coins to be bagged in particular quantities or decline certain deposits.
It is therefore worth contacting your bank before making a special journey.
The Post Office
Some Post Office services may also be available to customers of participating banks, although arrangements can depend on your bank and account.
Again, it makes sense to check first.
The Royal Mint
A common misconception is that you can send old £1 coins directly to The Royal Mint.
The Royal Mint does not offer a service for members of the public to exchange old round pound coins.
Specialist Currency Exchange Services
Another option is to use a specialist service.
We Buy All Currency allows individuals, charities and businesses to identify their old round pounds online, see the exchange value and send the coins to us for processing.
You can start immediately on our dedicated old round £1 coin exchange page.
What Is an Old Round Pound?
The old £1 coin is easy to recognise.
Unlike today’s 12-sided £1 coin, the original pound coin is completely round and has a gold-coloured appearance.
The coin was first introduced on 21 April 1983 and replaced the £1 banknote as the main everyday form of the one-pound denomination.
For more than three decades, it became one of Britain’s most familiar coins.
A wide range of reverse designs appeared during its lifetime, representing different parts of the United Kingdom, cities, bridges, floral emblems and national symbols.
Although the designs vary, they are all versions of the old round £1 coin.
Why Was the Round £1 Coin Withdrawn?
One of the main reasons was counterfeiting.
By the time the round pound was replaced, counterfeit versions had become a significant problem.
The Royal Mint says approximately one in every 30 round £1 coins in circulation was counterfeit when the replacement programme began.
The new £1 coin was therefore designed with a completely different shape, two-metal construction and additional security features that made it much harder to copy.
The new 12-sided coin entered circulation on 28 March 2017.
For several months, both types circulated together before the old round pound finally lost legal tender status on 15 October 2017.
Are Old Round Pounds Still Legal Tender?
No.
Old round £1 coins stopped being legal tender in October 2017.
In practical terms, that means shops, restaurants and other businesses are no longer required to accept them as payment.
If you discover one in an old purse or money box, you cannot normally use it to pay for your shopping.
However, no longer being legal tender does not mean the coin has no exchange value.
You simply need to use an appropriate route to convert it.
How Much Is an Old Round £1 Coin Worth?
For ordinary currency exchange purposes, an old round pound has a denomination value of £1.
However, the amount you receive from a specialist exchange service depends on the exchange rate being offered.
We Buy All Currency displays the current exchange value directly on our old £1 coin page, so you can see what we will pay before sending anything.
Visit the old round pound exchange page and enter the number of coins you have to calculate the value.
Do You Accept All Old Round £1 Coin Designs?
Yes.
There were many different designs of the round pound during its years in circulation.
These included designs featuring:
- The Royal Arms
- Scottish thistles
- Welsh leeks
- English oak trees
- Northern Irish flax
- Bridges
- British cities
- Floral emblems
- National and regional symbols
You do not need to have one particular design to use our exchange service.
Our dedicated listing covers all designs of the old British round £1 coin.
How Do I Exchange Old £1 Coins With We Buy All Currency?
The process is straightforward.
1. Find Your Old Round Pounds
Gather together any old £1 coins you have.
Check drawers, old purses, money boxes, travel wallets, car compartments and other places where loose change tends to accumulate.
2. Enter the Number of Coins
Visit our old £1 coin page and enter how many round pounds you want to exchange.
Your online account will show the exchange value.
3. Send Your Coins
Follow the instructions provided for sending your currency to us.
4. We Check Your Currency
When your coins arrive, we count