Currency for which the exchange deadline has expired no longer has a monetary value. So-called ‘demonetised‘ banknotes and coins have no value except for the raw materials they are made off, and a possible collector value to . A banknote or coin’s collector value is determined by its condition, rarity and popularity among collectors.
At Leftover Currency we continue to exchange a number of currencies for which the exchange deadline has expired. Although we pay less than the old face value, we are still able to pay a fair amount for old demonetised currencies such as the Cypriot Pound, French Franc, Italian Lira, Greek Drachma or Maltese Pound.
The rules around the legal tender status of coins in the UK are set out in the Coinage Act 1971 and the Currency Act 1983. In England, Scotland, Wales and Northern Ireland, all coins minted by the Royal Mint and authorised by Royal Proclamation are legal tender.
The following coins are legal tender in the UK:
When choosing a currency calculator, make sure that the purpose of your query fits the purpose of the calculator. If you want to know a mid-market exchange rate, don’t use a currency calculator on a travel money website or one on a money transfer website.
Ask yourself what you want to use the currency converter for. If you want to trade currency on the foreign exchange market, you’ll need to consider using a paid-for currency rates service with real-time information without delays.
As described by ex-metal detectorist John Winter, sixpence love tokens were common in the 19th century. A man would give his sweetheart the crooked coin, no longer spendable: It would be a statement to deliberately mess up hard earned money, and to give it away as a token of love.
Some sixpence love tokens would have initials or heart symbols engraved on them. They were popular on the Feast of Saint Valentine. The lady who received the coin could either keep the love token when the love was reciprocal. Or she could throw the coin away. Metal detectorists find many crooked sixpences at the site of old fairs…