We’ll send you a link to a feedback form. The (UK) Coinage Act 1816 therefore applied and British coins were confirmed as legal tender in New Zealand. The 50 pence piece has featured the profile of Queen Elizabeth II since the coin’s first introduction in 1969. To help us improve GOV.UK, we’d like to know more about your visit today. Gibraltar £1 coins are not legal tender in the UK. Four different portraits of the Queen have been used. If a retailer wants to accept it, you can use it. The motto round the milled edge of Jersey pound coins was: Caesarea Insula ("island of Jersey" in Latin). For England and Wales, legal tender consists of coins minted by the Royal Mint and banknotes produced by the Bank of England. Legal tender allows UK coins to be accepted for payment of debts in court, but only circulating legal tender coins are designed to be spent and traded at businesses and banks.” Many of our customers ask what legal tender really means, and why the value on a bullion coin is different from the actual sale price of the coin, so we thought we’d explain below. A retailer has every right to refuse payment if there are more than ten pounds worth of fifty pence coins presented. 1. Learn what makes a coin legal tender and the process that each design goes through before receiving Royal Proclamation. 1ps only count as ‘legal tender’ for any transaction equal to or less than 20p Are Scottish notes worthless? 2. Description Description This is a collection of 13 UK 50p coins which are all legal tender and in good condition Two are duplicates, please see photos for exactly what's included. It does not actually mean that the coins can be accepted by banks, shops and businesses for cash transactions. In 1992 10p coins were made smaller, lighter and generally more convenient. SHIPPING. In 2008, the back of all the pence coins were redesigned to show different segments of the Royal Shield. 0. tsx080 Posts: 102. The history of bank notes in New Zealand was considerably more complex. The design: Scottish Thistle, royally crowned. For the previous larger ones, see here. Coins had to be issued by the Minister of Finance.) is, or has been, legal tender in its country of origin, and is of a description of coin that is normally sold at a price that does not exceed 180 per cent of the open market value of the gold contained in the coin, or (c) an investment gold coin as specified in Notice 701/21A Investment gold coins of the VAT Act 1994. . £20 – for any amount. Jersey £1 coins ceased to be legal tender in Jersey on 15 October 2017 to coincide with the withdrawal of the circular £1 coin in the UK. Coins are legal tender throughout the United Kingdom for the following amounts: £100 – for any amount. Only the smaller post 1990 5p coins shown on this page are legal tender. £5 (Crown) – for any amount. 'Legal tender' simply means that an item can be used to settle debts to a court. Martin went on to add: "Briitsh bank notes are Royal Mint coins are (legal tender). Our notes are designed to be difficult and time consuming to copy. Legal? One of the items within the regulations states that the following coins and denominations shall be legal tender: Coins made from silver or cupro-nickel of a denomination of more than 10 pence, for payment of any amount not exceeding £10. Although legal tender, £5 coins are rarely seen in circulation and are intended as souvenirs. Advice for retailers and businesses. However, you can use more coins if the person you’re paying is willing to accept them. It will take only 2 minutes to fill in. In Scotland and Northern Ireland, the only legal tender is Royal Mint coins. Earlier this month, a 50p coin was selling for a staggering £3,500 on eBay. By Claire Schofield. More than a year after they ceased to be legal tender, there are still £1.5bn-worth of paper £5 and £10 notes that haven’t been cashed in. However, coins cease to be legal tender at certain amounts. We work closely with De La Rue, the company that currently prints our notes, to ensure they are of a consistently high quality. Amazingly the British Coinage Act (1971) states that 1p and 2p coins are only legal tender up to the value of 20 pence. We aim to dispatch all items within 2 working days of cleared received payments. It doesn't matter if it's legal tender or not - that's a largely legal term that is seldom used. From a legal perspective the meaning of ‘legal tender’ is that you can’t be sued for not paying a debt as long as you give the right amount of money in ‘legal tender’. Are commemorative coins legal tender? Bullion coins, and many other proof and Brilliant Uncirculated coins, have a monetary value stamped on them, ranging anywhere from £1 up to £100. Equally, traders may offer to accept payment in foreign currency, such as Euro, Yen or US Dollars. The original 10p coins were first issued in 1968 as a larger coin and was initially used alongside and was the same size as its predecimal equivalent coin, the florin (or two shillings). Exclusive figures from the Royal Mint for YourMoney.com reveal £131m worth of old pound coins have yet to be returned to the Royal Mint. Advice for law enforcement. View the designs and specifications for each of the UK coins in current and previous years: Forum Member 14/12/07 - 07:47 #25. August 9, 2018 12:57 pm. Mark. Mr Chamberlain attempted to pay for £87.49 worth of petrol using five of the £20 coins at a Tesco store in Tiverton, Devon. Coins in the UK are regulated by the Coinage Act of 1971. You can spend up to £5 in 5p or 10p coins, or up to £10 each in 50p and 20p pieces. 0. You may be surprised to see the mention of the 25p coin there; this is the ‘Crown’ and they do still exist, albeit mainly in collector’s hands. For the record, here are the legal tender limits for all UK coins: 1p and 2p: up to 20 pence in total; 5p and 10p: any amount up to £5; 20p, 25p and 50p: any amount up to £10; All others: any amount. The term legal tender only comes up in normal conversation when people discuss Scottish money. Only the smaller post 1992 10p coins shown on this page are legal tender. The old "round pound" stopped being legal tender on Sunday, October 15. Post-1971 coins can be used anywhere. £1 and £2 coins are legal tender without any restriction. Discover the art and craft of coin design through the coins in circulation today.