Thursday, 29 July 2010

Fake pound coins

Have you ever had the annoying experience of trying to pay for a ticket and the machine keeps spitting out your pound coins. The chances are that the pound coins you are using are fake. I was horrified to hear that 1 in 36 pound coins currently in circulation are counterfeits. The figure is rising year on year.
It is illegal to use counterfeit pound coins so how do you spot them?
This depends on the quality of the fake.
Here are some guidelines from the Royal Mint – you can look at their website for more detailed information.
The date and design on the reverse do not match (the reverse design is changed each year) – see royal mint website for details
The lettering or inscription on the edge of the coin does not correspond to the right year.
The milled edge is poorly defined and the lettering is uneven in depth, spacing or is poorly formed. The obverse and reverse designs are not as sharp or well defined.
Where the coin should have been in circulation for some time, the colouring appears more shiny and golden and the coin shows no sign of age.
The colour of the coin does not match genuine coins.
The orientation of the obverse and reverse designs is not in line.

So next time you hold up the queue at a ticket machine as it spits out your pound coins you can thank the scumbags who are making the fakes!

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