Yes, 2p coins are still legal tender in the UK, but only for amounts up to 20p in England and Wales; shops aren't obliged to accept more than that for a debt, though they often do for general transactions. They remain accepted in everyday commerce, but their legal tender status for large debts is limited to 20p, with higher values (like £1 or £2 coins) having different limits, notes the Bank of England and The Royal Mint.
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.
Downing Street said 1p and 2p coins are not being phased out in the UK after Donald Trump ordered an end to minting one cent coins. The US president said he had told the Treasury Department to stop producing new pennies. “For far too long the United States has minted pennies which literally cost us more than 2 cents.
For example, 1p and 2p coins only count as legal tender for any amount up to 20p. And 5p and 10p coins only count for any amount up to £5. But £1 and £2 coins count as legal tender for any amount. Many common and safe payment methods such as cheques, debit cards and contactless are not legal tender.
Two pence coins are legal tender for amounts only up to the sum of 20p when offered in repayment of a debt; however, the coin's legal tender status is not normally relevant for everyday transactions.
What happens to old pound coins, now they’ve been replaced? – BBC London News
What to do with old 1p and 2p coins?
Most high-street banks in the United Kingdom are willing to accept demonetised coins from their customers. Larger Post Office branches are usually willing to accept demonetised coins in exchange for goods and services.
An extremely rare limited edition 1971 2p New Pence Coin with a unique print detail is selling on eBay for £14,000. Hundreds of the 2ps are being auctioned. When decimal currency was introduced by England in 1971, all 2p coins in the UK had an inscription 'New Pence'.
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.
Are commemorative coins a good investment? Commemorative coins can be a good investment for collectors. Their limited mintage and artistic designs give them strong collectibility and the potential for price appreciation over time. However, there is always a risk that certain coins may decrease in value.
deposit at the bank – most UK banks and building societies still accept old coins and notes if you have an account with them. You may need to visit a branch and potentially fill out a deposit slip.
"In 1983, there were supposed to say Two Pence, but a few were accidentally printed with the old design 'New Pence'. "From 1971, when decimal coins were introduced, all 2p coins said 'New Pence' on them so they are not rare or valuable."
If you've been noticing fewer pennies in your pockets lately, it's not your imagination. The U.S. Treasury has officially begun phasing out the penny, with production expected to end entirely by early 2026. After more than 160 years in circulation, the country's smallest coin is finally stepping off the stage.
So, what should you do with those pennies now? You can continue to spend them. Retailers will continue to accept pennies if you want to pay with exact change. However, you certainly shouldn't save them in the hopes that their value will increase, as that's unlikely to happen in the near future.
The Post Office will only buy back current, clean banknotes, and even then, only from a few currencies. If you've been turned away with a handful of coins or old notes, you're not alone — but you're also not stuck. There's a better way to exchange foreign coins and notes.
The value of a 1977 Silver Jubilee coin depends heavily on the metal: the common cupronickel version (higher mintage, thicker) is worth a small premium over face value (around £2-£5), while the scarcer sterling silver proof version (thinner, often in original packaging) is worth significantly more to collectors, ranging from £30 to over £100 or more depending on condition and presentation.
Some 1999 pennies are worth thousands of dollars because of a rare "Wide AM" error, where the "A" and "M" in "America" on the back (reverse) are widely spaced, a feature meant for proof coins, not regular circulation. While most 1999 pennies are common, those with this specific wide spacing, especially in pristine, uncirculated condition (like MS-67 or higher), command high prices, with top examples selling for over $4,000 due to the rarity of this manufacturing mistake.
No, standard 1971 2p coins aren't rare as nearly 1.5 billion were minted; they are common, but their value increases significantly if they have specific, rare mint errors like die cracks or if they are in flawless, uncirculated condition, making them more collectible as the first decimal 2p coins. The truly rare ones are usually 1983 2p coins accidentally struck with "New Pence" instead of "Two Pence," which can fetch high prices.
Why Are Pre-1947 Coins Still Valuable? For centuries, British coins were struck from precious metals. Gold was used for higher-value pieces such as Guineas and Sovereigns, while everyday change, from Halfcrowns to Sixpences, was traditionally made of silver.
1. Commonwealth Games Northern Ireland 2002. Cherished for its rarity and connection to the momentous sporting event, the 2002 Commonwealth Games Northern Ireland £2 coin is a gem with collectors.
Check the piggy bank A small batch of 2p coins minted in 1983 had the words 'new pence' instead of 'two pence' on one side. They're now worth £500. Copper coins: A small batch of 2p coins minted in 1983 are now worth £500 All 2p coins minted before 1982 should say 'new pence'.
The denomination of the coin is 2p and it was issued in 1971, making it a rare find for collectors. The coin is a part of the British Money and is extremely rare, making it a valuable addition to any collection. The coin was manufactured in the United Kingdom and is a great representation of the decimal coinage era (c.
Those minted after this date should say 'two pence'. But an error in 1983 means there are a small number of 2p coins from that year which say 'new pence'. Royal Mint does not know how many exist but today but they are highly sought after — though only if it is dated 1983.
