Fake £1 coins

[Emirzan]

BBC News - Number of fake £1 coins 'doubles'

After reading that article I had a rummage around for £1 coins and gathered a massive 7. Apparently the number of counterfeits has now doubled to around 1 in 50, 2%, so my chance of finding a fake amongst those 7 seems pretty small, but not impossible. According to that article:

HOW TO SPOT A COUNTERFEIT COIN:

• Look at the edge - on fake coins the lettering will often be indistinct, or the wrong typeface.
• Hold the coin so the Queen's head is upright and facing you. The pattern on the reverse side should also be upright
• The colour can be a give-away, although real coins can become discoloured in circulation
• Most fake coins often won't operate automated vending machines

Placing the coins on the table I noticed after about 10 seconds that the colour on one of them was a little off. Picked it up and it hits all the above points (well not the vending machine one, didn't try that). Pretty obvious when you know what you're looking for. All the other 6 passed as 'real' coins.

It would be interesting to see if there really are that many out there (although this is about as unscientific a way as any) so has anyone else found a fake?

Oh, and thanks to the BBC I am now £1 down for the evening, unless I knowingly break the law by spending my fraudulent coin.

[this_is_gav]

Somewhat disappointingly, out of the 15 on me, nothing. Though one does have a smooth edge (though the text is still pronounced). Just looks like it's a one-off genuine - nothing else to suggest it's a fake.

[danroyle]

i had quite a few come through my hands in the summer at work

all the students went to london for a day and seemed to pick up loads of them from souvenir stalls and such

[Emirzan]

http://www.royalmint.gov.uk/Corporat...PoundCoin.aspx

The design on the front of the pound coin changes each year. Often fake ones will have the wrong design for that year (based on the year stamped below the queen's head on the reverse) which is another way of spotting fake ones. That link above is the royal mints list of designs and which years they were used in.

this_is_gav, why the disappointment? That's good that all your coinage is valid

danroyle, I'm guessing you work in a bar or shop? I've done bar work and to be honest I don't think I ever had the time to check the coins were genuine, was more concerned with the notes. Logically it's a place where you'd probably get loads of fakes though.

[this_is_gav]

this_is_gav, why the disappointment? That's good that all your coinage is valid

If I'm honest, even in these times of money being grabbed from your grasp the moment you've got it, I don't think losing a quid or 2 will make much of a dent in my life.

Just wanted to see one... no real reason. Don't even know why to be honest. :\

[MadduckUK]

ignorance is bliss then, sure glad im not going to be checking any of mine anytime soon

[Funkstar]

i'm surprised it's worth their time to fake a £1 coin.

[mmh]

i'm surprised it's worth their time to fake a £1 coin.

read the related news...

one guy made about 12000 per day...

he made about 13m over 7 years!

still think its not worth it to them?

[chuckskull]

i'm surprised it's worth their time to fake a £1 coin.

I've been going to my local shop since I was 8, usually served by the same person, whom I know quite well. If I pay with a £20 they check it every time, pay with coins and it's just thrown in the till.

[Funkstar]

I'm still surprised it is a profitable enterprise, I always assumed producing fake coins would end up costing more than the face value. Obviously that is an incorrect assumption. Although his profits will be down due to the increase if metal prices over the last few years

[DDY]

The article on the BBC website, How do you spot a fake pound coin? estimates 1 in 50 £1 coins are dodgy.

After a quick rummage through my change tin I found 3 out of 32 of my £1 coins are counterfeit

[staffsMike]

Think I have one or two after looking at that. Guess I will do the honourable thing..

[TAKTAK]

3 out of 4 in my pocket are fake

[ionicle]

sigh
i work at mcdonalds, and we're only suposed to check £20 notes to see if they're fake...

but i've noticed a few of those coins before..

[XA04]

Mine seem genuine. I handle lots of pound coins every day at work though, will be interesting to see how many fakes I can find now!

[staffsMike]

Seems you were beaten to it lol
http://forums.hexus.net/general-disc...e-1-coins.html