Hardest to fake new pound coins have been faked.

[barleycorn]

But it will cost you money to buy the peso coins in the first place....

You could always counterfeit them... Er...

[dutch]

Er... Surely if you're passing them off as 10p pieces, then 650 of them would net you £65.

 

650 pesos cost about £10. But still £55 for £10 investment is not bad.

 

It has not even been a month but a lot of UK fake coin forgeries come from Asian factories with advanced equipment. Many people will not have the time to waste to check holograms and printing on the side on every pound they exchange.

 

Pound has dropped a lot in value and will be worth even less after brexit, tories have money to save dropping coins after they take it from human services.

[nightrider]

650 pesos cost about £10. But still £55 for £10 investment is not bad.

 

It has not even been a month but a lot of UK fake coin forgeries come from Asian factories with advanced equipment. Many people will not have the time to waste to check holograms and printing on the side on every pound they exchange.

 

 

Yes its all very well saying the hologram makes it harder to counterfeit - but is your average till assistant going to inspect every single pound coin? Can self-service tills scan the hologram or would new expensive tills be needed to be installed first?

[LLVL]

Yes its all very well saying the hologram makes it harder to counterfeit - but is your average till assistant going to inspect every single pound coin? Can self-service tills scan the hologram or would new expensive tills be needed to be installed first?

 

They don't need to inspect the hologram, they can make use of the magnetic signature to check.

[dutch]

They don't need to inspect the hologram, they can make use of the magnetic signature to check.

 

Have not seen any magnetic signatures on them, do you need some special glasses?

[nightrider]

They don't need to inspect the hologram, they can make use of the magnetic signature to check.

 

So the shop assistant has to scan every pound coin to check the magnetic field matches what one expects?

 

I still think all this security falls apart, at first glance, because shops are not going to check it all carefully because it would take too long. The number of security features appears long and would be complicated to check oneself:

 

https://www.thenewpoundcoin.com

 

However perhaps they will spend lots of money on new machines which can quickly check all the security features. But I don't know if thats viable for independent shops.

 

---------- Post added 26-04-2017 at 16:29 ----------

 

They don't need to inspect the hologram, they can make use of the magnetic signature to check.

 

Why would they not check it? Its supposed to be one of the new security features. If you don't need to check it, then it would be redundant.

[dutch]

Looking at holograms to save a pound. Can't even buy half a cup of coffee for that and we are supposed to check all these silly safety features. I will look like a fool checking holograms but will shrug my shoulders if one were fake.

[little malc]

I would have thought the cost of producing a passable £1 coin would hardly be worth it considering £1 these days buys very little. Better to produce the £2 coin at least.

[Yorkshire 53]

It resembles the old,brass, Threp'ny Bit.

 

Can anybody work out how much the pound's value/worth has diminished since, say 1970 ? Best I can work out is, the 1970 pound would be equivalent to ( would buy ) what it would take £11 to buy today ?

[LeMaquis]

Can anybody work out how much the pound's value/worth has diminished since, say 1970 ?

 

It hasn't diminished at all. It's still worth 16 ounces.