Nickel-plated steel 5p and 10p coins

[Eagle]

So, 20 years after coppers stopped being made of copper, now the next tier of coins has switched over to cheap steel. (In fact, they're now nickel-plated steel, copper free, rather than the 3:1 cupronickel that they were made of.) At current rates, the cupronickel in a 5p coin costs 3.1p, and in a 10p coin double that. The new steel coins cost about 0.2p.

I wonder how long before all coins go the same way, because although there's no way in hell the material costs will ever approach the face value of the higher coins, it'll still represent a hell of a saving to the Mint to make them this way.


I only mention it because I had about four steel 5p and 10p coins in my wallet and a vending machine rejected them all, either because they're the wrong thickness or they're ferromagnetic.

 

[Trog]

If you want a quick way to increase the value of the coins in your pocket. Try drilling a hole in the middle of them and turn them into the more valuable washers.

 

[Eagle]

Which is, of course, illegal under Section 10 of the Coinage Act 1971.

 

[Xenophon PCDGS]

Are coins expected to now have any significant correlation to the value that is expressed on coins.....or is this now just a symbolic representation ? I remember silver coinage of the pre-1947 vintage being said to be worth significantly more in terms the metallic content they possessed in the value of those coins.

You make a very good point indeed when you referred to machine rejection of this newer coinage, as this point will now gradually became more and more significant over the passage of time. I wonder if discussions have been held by the Royal Mint and those manufacturers of coin-input machinery that is installed in many machines these days.

 

[NLC1072]

So, 20 years after coppers stopped being made of copper, now the next tier of coins has switched over to cheap steel. (In fact, they're now nickel-plated steel, copper free, rather than the 3:1 cupronickel that they were made of.) At current rates, the cupronickel in a 5p coin costs 3.1p, and in a 10p coin double that. The new steel coins cost about 0.2p.

I wonder how long before all coins go the same way, because although there's no way in hell the material costs will ever approach the face value of the higher coins, it'll still represent a hell of a saving to the Mint to make them this way.


I only mention it because I had about four steel 5p and 10p coins in my wallet and a vending machine rejected them all, either because they're the wrong thickness or they're ferromagnetic.

If it was an S & B machine, this is because S & B have yet to upgrade most to accept them!

NLC1072

 

[Tibbs]

I was wondering why the vending machine at work kept rejecting the shiny new 5p coins.

Ah well, I need to lose weight anyway!

 

[richw]

Which is, of course, illegal under Section 10 of the Coinage Act 1971.

Incorrect, hence why tourist attractions have machines that turn 1p into commemorative medal things.

The act was repealed in it's entirety by the Forgery and Counterfeiting Act of 1981

 

[Eagle]

Are coins expected to now have any significant correlation to the value that is expressed on coins...

No, because there's no reason why they should any more. Coins are intrinsically valuable by virtue of being coins, not because of what's in them.

 

[causton]

Incidentally, how much does it cost to make a note?

 

[Eagle]

Incidentally, how much does it cost to make a note?

Of the order of ten pence. (Not sure how much more or less this would be if we switched from cotton to plastic.)

 

[Xenophon PCDGS]

No, because there's no reason why they should any more. Coins are intrinsically valuable by virtue of being coins, not because of what's in them.

You have now answered the part of my posting that you have omitted in the other part of my posting that you quoted above which went on to say.....or is this just now a symbolic representation ?

It is always better to make quotes in full, as it appeared that I was not comprehending the query, when in fact I was asking two sides of a question.

 

[GB]

Incorrect, hence why tourist attractions have machines that turn 1p into commemorative medal things.

The act was repealed in it's entirety by the Forgery and Counterfeiting Act of 1981

Is it not against some law to deface the queens image or is that a myth?

 

[ainsworth74]

Is it not against some law to deface the queens image or is that a myth?

I think at one time it was illegal but no longer. However two things a) If it were illegal someone better tell those touristy places with the coin machines and b) find me a police officer who'd be willing to charge someone for it even if it was!

 

[Eagle]

Is it not against some law to deface the queens image or is that a myth?

It's only against the law to deface her real-life face. :P

 

[GB]

It's only against the law to deface her real-life face. :P

Lol, Ill have to remember that for future reference!

 

[Xenophon PCDGS]

I think at one time it was illegal but no longer. However two things a) If it were illegal someone better tell those touristy places with the coin machines and b) find me a police officer who'd be willing to charge someone for it even if it was!

Did a punk band once have a defaced picture of the Queen on an album cover ?

 

[ainsworth74]

Did a punk band once have a defaced picture of the Queen on an album cover ?

I believe there was, it looked something like this I think: