Have you ever found British coins confusing? As a metal craftsman working with international clients, I've handled over 200 UK coin designs. Let's cut through the complexity together.
The UK currently uses eight coin denominations (1p-£5) with bi-metallic £2 coins being legal tender. Older coins remain usable if matching current sizes, except demonetized pre-1992 "copper" pennies.
Last month, a London client nearly rejected 5,000 commemorative coins due to outdated size specifications. This guide prevents such costly mistakes by clarifying modern UK coin standards.
Is there a 5 coin in the UK?
The "5 coin" confusion stems from mixed references to pence and pounds. Let's separate fact from fiction.
Yes, the UK has 5p coins and £5 commemorative coins1. The 5p (19.5mm diameter) circulates widely, while £5 coins (38.61mm) are collectibles without general circulation status.
Key Differences: 5p vs £5 Coins
| Feature | 5p Coin | £5 Coin |
|---|---|---|
| Material | Nickel-plated steel | Cupro-nickel |
| Weight | 3.25g | 28.28g |
| Legal Tender | Yes (unlimited) | Yes (£5 face value) |
| Common Uses | Everyday purchases | Collectors/souvenirs |
The Royal Mint issues special £5 coins for events like Queen Elizabeth's Platinum Jubilee. These contain 28.28g of cupro-nickel - enough material to make nine standard 5p coins2.
What are the current UK coins?
Britain's coin system underwent major changes in 2008 and 2017. Here's what stays in your pocket today.
Eight coins circulate: 1p, 2p, 5p, 10p, 20p, 50p, £1, and £2. All feature Queen Elizabeth II's portrait (until 2023 updates) and security edges except the smooth 1p/2p.
2023 Circulation Facts
- New Charles III coins phased in from December 2022
- 12-sided £1 coins introduced in 2017 (replaced round £1)
- Magnetic detection identifies post-1992 steel coins
- Average lifespan: 25 years for coppers, 40+ years for silver coins
The 20p coin's unique seven-sided shape helps blind users distinguish it from similar-sized 5p coins. This accessibility design has been copied by 13 other national mints.
Do UK banks accept coins?
Banks follow strict Coin Processability Standards (CPS) that surprise many account holders.
All UK banks must accept legal tender coins for deposit, but may charge fees for large quantities. Personal customers can exchange up to £300 in coins monthly without fees under Post Office agreements.
Coin Handling Policies (Top 5 UK Banks)
| Bank | Free Limit | Large Volume Fee | Bag Requirements |
|---|---|---|---|
| Barclays | £100/day | £5 per £100 excess | Pre-sorted (£1/£2 bags) |
| HSBC | £200/month | 1.5% handling fee | Sealed Royal Mail bags |
| NatWest | £300/month | None | Coin trays provided |
| Lloyds | £250/month | £10 per transaction | Self-counted only |
| Santander | £150/week | £15 admin fee | Original bank bags |
Pro tip: Use supermarket coin kiosks for smaller amounts - they offer 98% face value exchange with no ID required.
What is an old English coin called?
Britain's numismatic history spans 2,100 years - here's how to identify key eras.
Pre-decimal coins (pre-1971) include crowns (5 shillings), sovereigns (£1 gold), and groats (4p). Medieval coins like angels and nobles remain collectibles with no face value.
Historic Coin Timeline
| Era | Example Coins | Metal Content | Modern Value |
|---|---|---|---|
| Anglo-Saxon | Sceat, Penny | 92.5% silver | £800-£12,000 |
| Tudor | Testoon, Sovereign | 22k gold | £5,000-£200,000 |
| Georgian | Guinea, Cartwheel | Copper/Britannia | £20-£1,500 |
| Victorian | Florin, Half Crown | 92.5% silver | £15-£800 |
I recently authenticated a 1703 Vigo Five Guineas coin containing gold captured from Spanish galleons - numismatic history literally in your hand.
Can I use old coins UK?
Legal tender rules create a minefield for vintage coin users. Let's map safe usage.
Pre-1947 silver coins retain face value but higher melt value (£1.20 per 50% silver shilling). Only post-1992 copper coins remain legal without quantity limits.
Practical Guide to Old Coins
-
Pre-1971 (Decimalization)
- Shillings = 5p
- Sixpence = 2.5p
- Maximum £5 per transaction
-
Pre-1992 (Bronze Pennies)
- 1p/2p coins accepted up to 20p total
- Melt value exceeds face value (2p=3.2p scrap)
-
Gold Sovereigns
- £1 face value
- Actual gold value: £380+ (2024 prices)
Last year, a Bristol pub owner made headlines by accepting 18th-century coins at face value - until realizing a single gold guinea covered his £3,500 monthly rent!
Custom Commemorative Solutions from INIMAKER®
Our Wenzhou workshop produces museum-grade replica coins ideal for educators and collectors. Whether you need Tudor rose sovereign reproductions for history classes or Brexit commemorative coins for political collections, we offer:
- Historic Accuracy: Laser-scanned reproductions with optional artificial aging
- Educational Kits: Coin sets with magnifiers/date charts (MOQ 100 units)
- Custom Designs: Combine multiple UK eras in layered metal coins
Why Our Clients Choose Us:
- ISO 9001-certified plating (up to 18K gold finishes)
- 15-day production for school/university orders
- Free 3D proofs with historical accuracy certification
Conclusion
The UK's coin system blends tradition with modern security. From spending 5p coins to preserving gold sovereigns, understanding these details prevents financial losses and historical preservation errors.
