Are five pound coins legal yet and has any one seen or used one of these mythical coins??

Question

Me and my brother have been arguing when £5 coins become legal, he thinks that they are already circulating,I don't think that thaey will be for a few more months.

Answer 1

£5 coins are legal, but they're often worth more than £5. The royal mint sell them for nearly £10, although you do get a presentation case with them. They're used as commemoration coins; they feature some sort of anniversary, for instance this year it's the 450th anniversary of the begining Elizabeth I's reign. Most shops and businesses will refuse to accept them, although state-run agencies (such as the post office) accept them.

Answer 2

They're around.

But immediately grabbed by collectors.

And they've been legal tender since the 90's.

Judging by the state of £5 notes, they'll have to be in use soon.