Fake pound coins

I heard on the radio the other day that half of the £1 coins are fake and if somethings not soon done about it the royal mint won't be making them anymore. Apparently these coins are very easy to make by unscrupulous people.

There is a way of telling if they are legal or not, you have to turn it on it's side and I can't remember what else you do, sorry.

Re: Fake pound coins

I just had to look this up to see how to spot one........this is the page I read.
http://news.bbc.co.uk/1/hi/magazine/7628930.stm

Re: Fake pound coins

As far as I understand there are around 3% of fake £1 coins in circulation, and if it gets to more than 4% then the Bank of England would have to issue new coins...

Re: Fake pound coins

Hi Ali I heard about this before.
I don't use much cash these days, everything goes on my card to be paid off once a month. I find this so much easier than carrying lots of cash around.

Re: Fake pound coins

Sometime I find car parking machines will not accept a £1 coin that I put in........ I wonder if someone has given me a dud in change!

Re: Fake pound coins

I never carry cash these days, except for a few coins, relying on my Direct Debit card, but I do keep a £1 in my car for the trolleys at supermarkets. It is a bit disconcerting though to hear about this.

Re: Fake pound coins

That link was very interesting Janelia, thanks for that , I only heard the bit when they said you turn it on it's side.

I remember they said if you receive one you're not supposed to use it.

I heard it on LBC radio, I've started listening to that so I'll probably come up with quite a few things I hear.

Re: Fake pound coins

It said that the Bank of England will stop making them if it continues which will be a shame as I do like the pound coins, they're nice and chunky, it's the two pound coins I'm not so keen on.

Re: Fake pound coins

Not heard about this before. I know quite often I get a pound coin that the parking machine won't accept. I'll look closer at those in future.

Re: Fake pound coins

I think, now I'm not sure, but I heard that if you hold a genuine pound coin in your fingers and turn it flipside the image still remains upward facing.