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IR £1 coins in bank polybags - collectable or go to Central Bank?

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  • 10-09-2019 9:29pm
    #1
    [Deleted User]
    Posts: 0 ✭


    Hello all - first-time poster here.


    Apologies if it's felt that the valuations sticky is a better place for this so mods please decide accordingly.



    But here's the query: we're cleaning out a late relative's personal effects and there are some bags of 1990 IR £1 coins to decide upon. I suspect these were ordered on the first day of issue so they may have come from the Central Bank or from Bank of Ireland.


    Image: https://imgur.com/a/Uqyi7Ug


    Should we cash them in at the Central Bank or are they of interest to collectors?


    Thanks so much.


Comments

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    #2
    coylemj
    Registered Users Posts: 25,326 ✭✭✭✭coylemj


    Being in bags, they would by now all have minor scratches called 'bag marks'. The 1990 £1 coin was introduced to replace the £1 note so as the first issue of that coin and as the intention was to rapidly remove the £1 note from circulation, a large number of that coin would have been minted. Another thing against you is that the 1990 £1 coin was issued in a proof version in a presentation case so your examples are unlikely to be of interest to collectors.


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    #3
    Agent Smith
    Moderators, Regional East Moderators Posts: 21,502 Mod ✭✭✭✭Agent Smith


    I'll Swap you 1:1 if you like?


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    #4
    antix80
    Registered Users Posts: 2,419 ✭✭✭antix80


    You'll only get €1.27 for them with the central bank.
    They're definitely worth more than face value, it just depends on the effort you want to go to to make a bit of cash.
    See https://www.irishcentral.com/roots/history/guide-valuing-old-irish-coins .. I reckon the values on this are highly inflated,probably how much you'd pay a collector to get your hands on one. Apologies, that article doesn't even provide a value for regular £1 coins.


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    #5
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Agent Smith wrote: »
    I'll Swap you 1:1 if you like?


    As in £1 = €1? Nah; if there's no collectable value then off to the Central Bank with them along with a few odds and ends I've been saving up for a while. Thanks.


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    #6
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,622 Mod ✭✭✭✭L1011


    The proof case was at least meant to be issued in a volume of 50k (randomly fell across the Central Bank ad for it when doing newspaper research this week) so there's plenty of proof condition out there.

    If you were willing to ebay them individually you would probably get more than face value over time but the effort to return ratio would be quite poor.


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    #7
    antix80
    Registered Users Posts: 2,419 ✭✭✭antix80


    Deleted User wrote: »
    As in £1 = €1? Nah; if there's no collectable value then off to the Central Bank with them along with a few odds and ends I've been saving up for a while. Thanks.

    A basket of goods and services that cost £100 in Jul 1990 would cost €220 in today's money. You should have just spent them!

    Spare a thought for my neighbour who collected 100s of millennium £1 coins after they were introduced. His house was broken into and they took the entire jar.


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    #8
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    If you're thinking of selling them individually, I'll take a few off your hands. Drop me a PM with prices for maybe 5 or 10 of them


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    #9
    signostic
    Registered Users Posts: 5,878 ✭✭✭signostic


    so will i, pm with details


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    #10
    coylemj
    Registered Users Posts: 25,326 ✭✭✭✭coylemj


    antix80 wrote: »
    A basket of goods and services that cost £100 in Jul 1990 would cost €220 in today's money. You should have just spent them!

    Not a fair comment, the OP has only come across the coins now ....
    Deleted User wrote: »
    ... we're cleaning out a late relative's personal effects and there are some bags of 1990 IR £1 coins to decide upon.


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    #11
    Blade
    Moderators, Business & Finance Moderators, Music Moderators, Recreation & Hobbies Moderators Posts: 4,499 Mod ✭✭✭✭Blade


    I would not open those bags to sell them individually. They appear to mint bags and you will get more than face value for them sealed. So certainly don't bring them to the CB or flog them too cheap. PM if want advice and still have them.


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    #12
    Spocker
    Moderators Posts: 6,851 ✭✭✭Spocker


    +1 for chatting with Blade first - you'll get good advice there. I'll take a bag, if you do decide to sell them


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    #13
    signostic
    Registered Users Posts: 5,878 ✭✭✭signostic


    if selling i would be interested in a bag, looks like 20 in a bag?


  • Options
    #14
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Hello all - thanks for the comments. If I do decide to sell individual bags then I'll pop a PM to those who asked, but that won't be for some time.

    Much appreciated


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