New 12 sided £1 coin is now in circulation

[melthebell]

Oh dear, counterfeiters actually copy the one pound coin. The metals used probably cost more than the value of the coin, in it's current free fall. Is this to create a vending machine manufacturing boom?

apparently theres about 40 million fake £1 coins in circulation so its to get those out of circulation and apparently the new coin is to STOP fakes, it cant be copied (alledgedly)

https://arstechnica.co.uk/information-technology/2017/03/uk-new-pound-coin-release-security-features/

[Eater Sundae]

It were aiius threppenny bit when I were a lad thruppenny wert t' posh version.

 

Probably a cross between the e and the u, but I'd say nearer u. Certainly not a clear "eh" sound. But thinking about it, the last e was silent, so I think I'll go for thrupny

[sgtkate]

apparently theres about 40 million fake £1 coins in circulation so its to get those out of circulation and apparently the new coin is to STOP fakes, it cant be copied (alledgedly)

https://arstechnica.co.uk/information-technology/2017/03/uk-new-pound-coin-release-security-features/

 

I think it can be copied, but that the cost of production would cost more than £1 therefore making it pointless to try. That article makes no sense. It's the shopkeepers who will be the ones who get defrauded my fake pound coins so having a 'secret' security feature won't help stop it's usage at the point of sale and in fact it might encourage more usage as if it looks good enough then how is a shopkeeper going to know it's fake or not without some expensive machine that will be able to tell if it is fake. Even if banks can detect and remove the fakes using this hidden feature it won't matter as the faker has already got their pound of stuff with the fake coin and don't give a damn whether it's removed after that point.

Edited March 28, 2017 by sgtkate

[MEC176]

So is that 'threppenny' bits or 'thruppenny' bits?

 

No it’s thrup-ence - or three pennys or six half pennys or twelve farthings.

 

depending on which part of Yorkshire you come from.

 

 

Next they will bring back Crowns and Half Crowns that’s when the money in your pocket was worth something as most of the early Crowns were 95% silver.

 

Any body remember threpenny Luck Bags.

[silentP]

No it’s thrup-ence - or three pennys or six half pennys or twelve farthings.

 

depending on which part of Yorkshire you come from.

 

 

Next they will bring back Crowns and Half Crowns that’s when the money in your pocket was worth something as most of the early Crowns were 95% silver.

Any body remember threpenny Luck Bags.[/QUOTE]

 

I do, they were also called Jamboree bags further south in the smoke.

[MEC176]

Will any one save a new pound as a memento, recently I was in a local antiques centre and there was a table with numerous coins on it from commemorative issues of decimalisation coin set’s to a pile of commemorative crown’s, Princess Diane, Winston Churchill the Queens Silver Wedding etc., and they were being sold for a pound a coin, the guy explained that anything like this minted before 1990 was only worth 25p at the current rated of coinage at that time so he was making 75p,

Royal Mint says, traditionally crowns had a face value of 25p (or 5 shillings prior to decimalisation in February 1971). In 1990 the face value was increased to £5 to give the coin a value consistent with its weight and size in relation to those of in the then current range of coins.

Each crown issue is authorised by Royal Proclamation in accordance with the requirements laid down by the Coinage Act 1971. This means that - in common with other coins in general circulation - a crown has legal tender status.

Most people would not wish to exchange a crown piece, but in recognition of the fact that some people may wish to do so, some post offices have agreed to accept crowns in exchange for goods and services.

 

So is there a question here if the Royal Mint have made pound coins difficult to copy these commemorative coins that are legal tender at £5 and look plain and simple but they weigh your pocket down a bit going to the Post Office can we spend them?

[Guest]

No, I think the change in shape is to prevent them rolling away under sofas and the like.

 

Didn't work then did it

 

http://metro.co.uk/2017/03/27/bbc-breakfast-presenter-left-red-faced-after-losing-brand-new-pound-coin-6536125/

[silentP]

Didn't work then did it

 

http://metro.co.uk/2017/03/27/bbc-breakfast-presenter-left-red-faced-after-losing-brand-new-pound-coin-6536125/

 

Ha! Ha! Just as well it's not a publicised property then.

[kidneystone]

I think this is the reason why a lot of supermarkets have removed the locking mechanism off their trolleys.

[MEC176]

According to the news some new pound coins have slipped through quality control with miss aligned die casting and few coins in circulation that were wrongly listed as 2016 and are already selling on eBay for as much as £250 also sold recently an uncirculated trial coin for £310.01 last month.

Alex Cassidy, from GoCompare’s Coining It In, told the Mirror what people should be looking out for the first batch of coins commemorating Jane Austen, Sir Isaac Newton and the Royal Flying Corps as these will soar in value over the coming months.

The pound in your pocket could be worth more.