Arizona Coin Collector wrote:
"Michael G. Koerner" wrote in message
...

Arizona Coin Collector wrote:
FROM:
http://www.independent.co.uk/news/uk...s-1519082.html

Surge in number of fake pound coins

Alarm at the Royal Mint as one in every 40 is found to be counterfeit

By Martin Hickman, Consumer Affairs Correspondent
Thursday, 29 January 2009

Criminal gangs have dramatically increased their
output of counterfeit £1 coins in the past year,
pumping millions of fakes into the economy and
threatening to undermine public confidence in the
money supply.

Sampling by the Royal Mint of coins in circulation
across Britain has found that the number in
circulation rose by 27 per cent during 2008,
raising the amount of sham coinage to £37.5m - or
one £1 coin in every 40 - the highest since the
coin was introduced in 1983.

[major snippage]

Short of the UK potentially soon going with the Euro, me thinks that the
time
has come for the Royal Mint to change the composition of the £1. If it is
really THAT bad (1:40 is now fake), I'd seriously consider not accepting £1
coins at all if I were a British shop keeper. Ditto in change as an average
consumer.

Would a USA-style clad style work?

------------------

Hello

I was curious if the counterfeit coin problem exist
due to how the coins are made, or the ease of the
raw material that counterfeiters can get? Changing
the coin specification, and making sure the raw
material to make the coins can only be made and
sold to the Royal Mint.

British £1 coins are about the same diameter, but with about twice the
thickness, of a USA/Canada/Euro 5¢ coin and are made out of a sort of
pea-greenish solid metal alloy.

Just holding a real one in my hand (and I have gotten a couple of them over
the years), I can't help but notice that they have a look and feel that tells
me that they would be a fairly easy coin to fake. Just having the Royal Mint
change their metal to a USA-style clad composition, perhaps using the same
alloys and clad layers as USA Sacs/Prezzies, while leaving everything else
about them (diameter/thickness/reeding/edge lettering/obverse and reverse
designs) as they are now would, IMHO, substantially improve their security.

I almost NEVER hear of any problems with counterfeit USA clad coins, including
the various $1s.

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Regards, | |\ ____
| | | | |\
Michael G. Koerner May they | | | | | | rise again!
Appleton, Wisconsin USA | | | | | |
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