Downing Street has promised that 1p and 2p coins are not being phased out in Britain, after Donald Trump ordered the US Treasury to stop minting one cent pennies. The president announced on Sunday night that America would stop manufacturing new coins, claiming on Truth Social that it was “so wasteful”.
However, in May 2019 Chancellor Phillip Hammond announced the outcome of a 2018 consultation, suggesting there were no plans to scrap copper coins and that he wanted the public to "have choice over how they spend their money".
Beyond the usual commemorative versions, no standard two pound coins have been minted for general circulation since 2016, although examples have been issued in uncirculated sets at a premium.
A quick and easy way to determine whether your 1p and 2p are copper because looking at dates takes a
What coins are being discontinued?
After 233 years of production, the U.S. Treasury Department announced that the production of the penny will come to an end, and soon, the only ones available will be pennies currently in circulation. The announcement comes after President Donald Trump stated in February that production was going to stop in 2025.
A coin has not been taken out of circulation in the UK since the half-penny was removed in 1984. New 2p coins have not been minted since 2021, according to the most recent figures from the Royal Mint, while none were made between 2018 and 2020.
Yes. A shop is under no obligation to sell you anything, nor to sell it to you at the price on the label. They can choose to refuse your note because a display of priced goods is merely an "offer to treat" - to negotiate a deal - although negotiating the price of a Mars bar downwards doesn't often work.
Some banks now have coin machines that let you pay in your spare change without needing to sort it first. Not all banks offer these machines, and even those that do might not have one in your local branch. However, they should be able to take your coins if you sort them yourself.
Money A brief reminder: These are the current coins that are used within England. They are the only legal tender coins that can be used in shops. 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2.
But eventually, stores won't be able to get new rolls of pennies from their banks and will start rounding transactions up or down to the nearest nickel. The decision on when to do that will rest with each retailer, not official government policy.
The 1933 penny is a famous coin in the UK, with only seven being struck and never released into circulation. Due to a large stock of pennies in 1933, no more were required to be struck.
The penny is going out of circulation. What should I do with my change? The U.S. Treasury will stop minting pennies in early 2026 due to production costs exceeding face value. Pennies will remain legal tender and accepted for transactions, with some amounts rounded to the nearest nickel.
1971 Pennies are worth little more than their face value of 1p. While more than 1.5 billion were issued, many have been withdrawn from circulation, making them hard to find in your change. If you need one for your collection, you should pay no more than £1-2, including shipping costs.
We just ask that you separate the coins into full bags that contain only one type of coin. If you have a large number of coins to deposit, please call your local branch first to see if they are able to accept them.
Pennies will remain legal tender, so you've got several options for putting them to good use: Cash them in: Most banks will accept rolled pennies, and coin-counting machines at grocery stores (like Coinstar) offer cash, gift cards, or donation options.
Trading in your loose coins at Coinstar is easy. Just pour your coins into a machine and let us do the work. Take your coins to a Coinstar machine. A 12.90% coin processing fee applies.
The £100 note is currently the largest denomination of banknote issued by The Royal Bank of Scotland. The current Ilay series of banknotes was first issued in 1987. These banknotes feature a portrait of Lord Ilay, first governor of the bank, on the front. Lord Ilay's image is also used as a watermark on the notes.
However, please note that, whilst the coins are legal tender, banks are not obliged to accept the coins (please refer to guidelines on legal tender status). Policies on accepting crowns do vary and it is therefore advisable to check with your bank in advance.
In short: Yes, UK law allows private businesses to refuse cash if they wish. While the Bank of England issues 'legal tender', this term only applies to settling debts, not requiring shops or services to accept cash outright.
In 1797, the government agreed to let Boulton coin a penny and a two pence. Each denomination is perfectly round and the excellent craftsmanship eliminated counterfeiting. The wide raised rim led to the term 'cartwheel'. The copper penny was minted for two or three years, but continued to carry the date 1797.
Following a regular review, officials decided there were already enough coins in circulation. But a Treasury spokesman stressed that coppers were not being dropped completely. "We are not scrapping 1p or 2p coins," he said.
All 2p coins struck between 1971 and 1981 included the words 'NEW PENCE' as part of their reverse. In 1982 and in subsequent years the words 'NEW PENCE' were replaced with the word 'TWO PENCE'. However, in 1983 a small number of 2p coins were mistakenly struck with the wording 'NEW PENCE' on the reverse.
