Pounds: Exchange old banknotes

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If you find pound notes or old banknotes, do not throw them away, as you can almost always exchange them for euros. With a few exceptions, this always works and can be worthwhile.

Old pound notes are not waste paper.
Old pound notes are not waste paper. © S._Flaisch / Pixelio

You have to consider this with pound banknotes

Before you start exchanging old banknotes, you should study the pound currency:

  • Pound is the name of many currencies. Pound banknotes can come from the UK, Cyprus, Lebanon, Egypt and many other countries. You can hardly tell right away whether it is old, invalid banknotes.
  • Since the euro has not yet been introduced in Great Britain and the introduction is not expected in the foreseeable future either you can even assume that the pound notes are current means of payment and not invalid.
  • You can usually exchange current banknotes at your house bank. This can also definitely tell you whether the banknotes are old, invalid, because new notes are introduced from time to time without the currency being converted. In 2003, for example, the £ 1 banknotes with the portrait of Georg Stevenson and the £ 5 notes with the portrait of Charles Dickens became invalid.

This is how you can exchange old money

  • Look closely at the pound notes. There you can find the bank from which they were issued. For example, in the UK you can also find English, Northern Irish, Scottish, Isle of Man (Manx), Guernsey and Jersey pound notes. The respective issuing bank is the point of contact if you exchange old pound notes for new or want to exchange for euros.
    • Exchange old money - this is how it works

    You have old foreign money from the current euro countries and want to know ...

  • Since it is often complicated to get in touch with the issuing banks for a few banknotes, there are Dealerswho will do it for you. These will of course only buy your old pound notes at a lower price than the issuing bank, but it will save you a few trips.
  • You can also generally offer old pound notes at coin dealers or auction houses if it is not possible to exchange them at your house bank.

Think about donating instead of exchanging. In Banks, at McDonald's and also at the checkouts of department stores there are often boxes in which you can put any banknotes and Coins can throw in. These stores handle exchanges and the proceeds will be donated to charity.

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