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Despite being fully legal tender the five pound coin (crown) will often be refused in shops simply because it is not commonly seen in circulation. The reason for this is that though coin is of a standard size and weight it has no standard face designs, the coins are always of a commemorative nature and so are often kept away in private collections.
There is no way to force an individual to accept any form of payment, including legal tender. Transactions in the UK are always a mutual agreement between two parties.
The Post Office have stated that they are happy to receive the coin as payment for goods and services. A bank should also be able to exchange the coin for change or a banknote, or you can deposit it into an account.
However it is recommended that you keep hold of the coin, and if you really want to get rid of it. Selling the coin to a collector will get you more than the face value.
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Where can you spend a British Five Pound coin?
You can spend euros at shops such as Marks and Spencers, Topshop, Macdonalds etc. Search on the internet for a full list. Yet, it is only likely that main branches in cities or major tourist areas or ports will accept euro payments.
Will there be a British Five Pound coin?
There has been a British Five Pound coin on and off since 1817. The British decimal Five Pound gold bullion coin was first issued in 1980 and the Five Pound "Crown" coin was first issued in 1990. The current British Five Pound "Crown" coin is intended to be a non-circulating legal tender commemorative coin. The Royal Mint has no current plans to produce a general circulation Five Pound coin in the foreseeable future.
Can you spend a five pound coin in the shops?
No, they wont accept it because they want to have coins to make change for when other people buy stuff with like 50 pound notes - so what will a 5 pound coin come use to them? - Hope this helps.
Who invented the Five Pound coin?
The Royal Mint "invented" the Five Pound coin. The gold Five Pound coin (quintuple Sovereign) was first issued in 1820 when it effectively replaced the Five Guinea coin. The gold Five Pound (Sovereign) coin was issued infrequently, mostly when a new King or Queen took the throne, and in their various Jubilee years. The modern gold Five Pound coin has been issued as a non-circulating bullion coin since 1980. The decimal cupro-nickel Five Pound (Crown) coin was first issued in 1990 and is intended as a legal tender non-circulating commemorative coin, usually commemorating some regal event or occasion.
What are all the types of British Pounds?
British Pound denominations currently in circulation include - One Pound coin Two Pound coin Five Pound coin (legal tender and often found in circulation) Five Pound note Ten Pound note Twenty Pound note Fifty Pound note
Where would you find the mintmark on a five pound coin?
If you refer to the British Five Pound (Crown) coin, they do not have a mintmark. They were all minted at the Royal Mint in Wales.
Where can you exchange Gibraltar Five Pound coins?
The Gibraltar Five Pound coins are similar to the British Five Pound coins in that although they are legal tender, the Five Pound coin is not intended to be a circulating coin, but a collectible of a commemorative nature and many businesses are reluctant to accept them. Gibraltar currency is only legal tender in Gibraltar and most authorities advise changing your currency before you depart Gibraltar. If you want to sell your Five Pound coin, take it to a reputable coin dealer.
Will Tesco supermarkets accept a Five Pound coin?
The British Five Pound coin is Legal Tender in Britain and can be accepted as payment for goods and services anywhere in Britain. However, the Five Pound coin was minted for collectors as a souvenir or investment and were not intended as circulating currency. The Royal Mint advises that "most retailers will refuse to accept them". If your Five Pound coin is in mint condition, it is probably worth more than Five Pounds.
Is the British Five Pound a banknote or a coin?
The Bank of England Five Pound note, as are all Bank of England banknotes, is made from cotton and fibre manufactured under extremely high pressures. It is the Five Pound note that is used in general circulation. The Royal Mint produces a cupro-nickel Five Pound coin as a commemorative. The coin is legal tender but is not intended as a general circulation coin and many businesses will not accept them.
What is the value of an 1893 British Five Pound silver coin?
There was no British 1888 Five Pound coin minted. The Five Pound coin with the Jubilee portrait of the Queen was only minted for Queen Victoria's Golden Jubilee year of 1887. During her reign the only other dates, with different designs, were 1839 and 1893. A number of forgeries dated 1888 are known.
What is highest valued coin?
In the UK we have a commemorative five pound (£5) coin. Five pound coins are legal tender, but are intended as souvenirs and are not usually seen in circulation.
Is there a picture of a Five Pound coin from 1981?
Pictures of a specific coin are difficult to come by. Usually you should be able to find one on eBay, but the picture is withdrawn after the coin is sold. The only Five Pound coin issued in 1981 was a "Proof in gold FDC" coin.
