I'd guess it will have a steel core like the 10p , 5p & 1p coins

so its metal content doesn't cost more than its face value –

if not the ones issued on Tuesday  it will sooner or later

John

Edited By john swift 1 on 27/03/2017 00:01:06

Some of the old pound coin counterfeits were terrible, if you spot one do you take the hit and declare it fake or just pass it on?

Mike

I think the hidden security feature will be inside, something like a hollow section to alter the weight or balance.

Edited By vintagengineer on 27/03/2017 08:19:23

I can still remember feeling rich when entering the local sweet shop armed with a threepenny bit. It was able to purchase quite a lot in those days.I have noticed that the self service machines at the supermarket have been spitting out a number of one pound coins of late so there must be a lot of counterfeit ones about. One thing though it must be legal to machine a fake one.

Doug

On the news this morning the guy at the Royal Mint showed that they have a small hologram on them…

Martin

.

Sorry if I didn't go into detail

• -9.9% seems pretty reasonable if you are processing fake coins
• the Coinstar machines have accepted fakes of the current £1 coin
• it was recently estimated that approximately 1 in 40 of all  £1 coins in circulation were fake

There are obviously other channels available.

MichaelG.

Edited By Michael Gilligan on 27/03/2017 10:07:30

I am not disagreeing with you with regards laundering of fake coins, 90p in the pound is indeed a resaonable return, I was not aware that the machines had already proven successful with regards laundering in this regard – begs the question why the producers bother putting them into circulation, just dump them straight into one of these machines for a suitable voucher.

Although one has to question the return on investment for those counterfeiting £1 coins in the first place, you must need tens of thousands of them to just cover the equipment and manpower costs of producing them, and then you have to get them into circulation. £20 notes on the other hand, much faster ROI, but more people will bother to check them for being genuine.

However with regards processing my own non fake coins, I would prefer to receive all of the funds, rather than be subject to an admin fee.

You mean it wasn't just my Mum who went through this ritual!

And the joy of saving up enough pennies to buy a quarter of sweets instead of having to be happy with two ounces!

Neil

The simple solution to the problem of getting rid of a large number of coins is to use the self-service checkout at these supermarkets.

Not long ago and over a period of a week or so, I managed to 'shift' more than £60 worth of small change by using the rather useful facility of these tills that counts coins without help from the user. So if your bill comes to say, £13.51, then just chuck as much change in as you dare and 'top it up' with a fiver – the till does all the hard work for you and returns change as required.

Martin.

You should all know how to identify a fake old £1 coin? If you examine both sides, then the Queens head and the legend/scene on the other should have the same orientation. If not it is a fake!

Clive India….. Re last para. Yes I do. The mars bar had the appearance of a loaf it was kept wrapped and sliced up to share. Sweet rationing lasted untill 1953 do your remember waiting to discover what value the coupons in your mums ration book for the next period. Cutting the tiny coupons out of the ration book(first entry into scissors eng) clutching the tiny square in one hand and a tanner in the other. The chocolate dragees at 6.5d were always just too expensive. And ALL those glass screw cap jars on view.

Apologies to all who haven't a clue what we are talking about……………

John