Face Value for Corroded Decimals?

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Face Value for Corroded Decimals?

Post by coinery » Mon Jul 30, 2018 9:43 am

Good Morning,
I’ve seen a lot of pictures on here and across the net of badly damaged/worn and defaced/stained decimals. If they are still identifiable, do banks exchange them for you, or do they remain forever as scrap?



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Re: Face Value for Corroded Decimals?

Post by Buriedbytime&dust » Mon Jul 30, 2018 9:57 am

I'd love to see the face of the bank clerk as they're presented with a bag full of verdigris encrusted pennies! :))

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Re: Face Value for Corroded Decimals?

Post by Dave The Slave » Mon Jul 30, 2018 10:02 am

Never tried the banks for low denominations.
Normally try and get rid of them in parking machines or self service tills but even these are starting to get a bit choosy. If the metal has started to expand, just goes in a bag with the rest of the unusables.
Suprising how quick a beach can destroy the most recent coins.
If you have enough undamaged of the correct denomination, you could always try and sneak a couple into the bag as the bank just weighs the bag.
Good Luck ::g
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Re: Face Value for Corroded Decimals?

Post by PHILLUCKY » Mon Jul 30, 2018 10:54 am

only bank notes I believe as they say 'promise to pay bearer'

I may be wrong tho

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Re: Face Value for Corroded Decimals?

Post by erm1969 » Mon Jul 30, 2018 11:27 am

Last week we took 36 old pound coins and 40 cruddy 20p coins to the bank (all beach coins and too far gone to spend in a shop). They happily handed over £44 in crisp new notes and shiny coins! Result.

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Re: Face Value for Corroded Decimals?

Post by Pathfinder1977 » Mon Jul 30, 2018 8:41 pm

I once had a clearout of modern coinage and, having spent the decimals in change, took in a bag of detected, soil-darkened, non-silver sixpences to my bank. Perhaps there were £1 worth (ie around 40 coins). It must have been in the 1980s, when the large-sized English and Scottish shillings were still valid along with the equivalent larger-sized 5 new pences. First they asked if I had an account with them. I did, and so they took the bagful away somewhere for examination. They were gone for at least fifteen minutes, but eventually came back and changed them for cash. They must have been checking them one by one with a lens. The old sixpences were equivalent to 2.5 new pence each, and hadnt been usable in shops for years. Im not sure they would accept sixpences today though.

Re decimals you have my sympathy! Id be inclined to put a few at a time in bank bags and pass them off that way. As long as theyre recognisable as current coins they should be legal tender, and if the bank opens the bags they will withdraw the bad condition ones from circulation - which is what they already do with coins and banknotes anyway. But dont put in any that have become simply blank iron discs - they could rightly argue that these arent coins at all and you are trying to defraud them!

Re-starting the hobby after a 'dead' period of 10 or 20 years does indeed bring in this new problem of iron 'junk' money which didnt exist before. Not only do the skins on modern coppers peel away quickly when lost outside for a while (you see these mostly iron discs in town gutters all the time knowing they are/were coins but theyre so far gone its pointless picking them up); but metal detectors will even reject them as iron when theyre buried in the ground!
Id go so far as saying that, for the UK at least, 1991 marked the end of the Golden Age of metal detecting, as that was the last year they made entirely non-ferrous coppers. Coins were coins, and you could detect all of them without fear of rejecting them as iron.

This state of affairs makes the idea of iron discrimination more problematic. Do you discriminate against the iron scrap and say goodbye to all the modern small change? Or do you go for the change and put up with the bottle tops, screws, fragments, etc?
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Re: Face Value for Corroded Decimals?

Post by coinery » Mon Jul 30, 2018 10:51 pm

Many thanks for all the insights, peops, much appreciated and very interesting. ::g

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Re: Face Value for Corroded Decimals?

Post by targets » Tue Jul 31, 2018 12:12 pm

yes i found a hoard of pennys in a river and they were knackered very bad so took them to the coin machine at asda poured them in and they all went thru ok depite them being very knackered..why they was chucked in river i dont know ::g
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Re: Face Value for Corroded Decimals?

Post by beachmaster66 » Tue Jul 31, 2018 12:52 pm

Yes the coinstar thing is excellent for offloading detecting finds, I put around £40 worth through and it only spat a few back at me :)

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Re: Face Value for Corroded Decimals?

Post by Buriedbytime&dust » Tue Jul 31, 2018 1:01 pm

It's surprising what those Coinstar machines will accept. I took a bunch of cleaned, but very poor condition change (1p to 20p) and poured it into the machine, half expecting most of it to end up in the coin reject tray, but to my amazement it took every single one! ::g

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Re: Face Value for Corroded Decimals?

Post by Dangerous Norman » Tue Jul 31, 2018 1:52 pm

Buriedbytime&dust wrote:
Tue Jul 31, 2018 1:01 pm
It's surprising what those Coinstar machines will accept. I took a bunch of cleaned, but very poor condition change (1p to 20p) and poured it into the machine, half expecting most of it to end up in the coin reject tray, but to my amazement it took every single one! ::g
Maybe that's why the commission is so high! lol

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Re: Face Value for Corroded Decimals?

Post by Buriedbytime&dust » Tue Jul 31, 2018 2:39 pm

Dangerous Norman wrote:
Tue Jul 31, 2018 1:52 pm
Maybe that's why the commission is so high! lol
Could be! They're probably fed up of emptying manky detecting coins from their machines :D

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Re: Face Value for Corroded Decimals?

Post by JBM » Thu Sep 13, 2018 11:12 am

I put them in the tumbler with other run of the mill finds and most of the coins come out spendable.

I then bag them up for the bank.

The old Pound coins go to the charities who can still exchange them for their original face value.

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Re: Face Value for Corroded Decimals?

Post by ROCK HOPPER » Thu Sep 13, 2018 12:21 pm

Most of my damaged modern coins just go into the local shops charity containers including pound coins.
If the powers that be would make coinage out of proper metal we would be able to use them in the shops instead of the mint having to mint more coins.
Recently I found three old pennies down the beach in the same tiny hole, Victorian, Edward VII and George V all in good condition after all that time.
Don't forget now that the winds are getting stronger to get down the beach and find some of the 150+ million of the old pound coins that are still mising.

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Re: Face Value for Corroded Decimals?

Post by targets » Thu Sep 13, 2018 12:59 pm

i stick em in the coinmat machine at asda or tesco and they never get rejected despite theyre bad
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Re: Face Value for Corroded Decimals?

Post by vladorado » Thu Sep 13, 2018 1:18 pm

I have some of the old £1 coins. Will the coinstar machines or the banks accept them?
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Re: Face Value for Corroded Decimals?

Post by hihosilver » Thu Sep 13, 2018 1:47 pm

Yes banks still accept the £1 coins as long as you have an account with them.
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