£19bn in old UK banknotes and coins not cashed in
The round £1 coin was replaced by the 12-sided version in October 2017, to crack down on counterfeiting.According to the Royal Mint, a company wholly owned by the UK Treasury, about 138 million round £1 coins were melted down to make some of the new ones at its base in Llantrisant in Rhondda Cynon Taf.
Old notes can also be taken there in person but the the bank warns of "long queues and waiting times up to an hour". If you have a UK bank account, the Bank of England said the simplest and quickest way to exchange paper £20 and £50 notes "will normally be to deposit them with your bank".
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