43m fake £1 coins in circulation. Should we revert to notes?

[Nottseagull]

They have plasticy ones in the Isle of Man which last!
http://uk.finance.yahoo.com/news/how-to-spot-a-fake-£1-coin.html

 

[Gritt23]

No.

 

[Djmiles]

If it's good enough for the Americans......

 

[Manx Shearwater]

I haven't had a Manx plasticy one given to me for years and years, they're all paper again now.

 

[Triggaaar]

They have plasticy ones in the Isle of Man which last!
http://uk.finance.yahoo.com/news/how-to-spot-a-fake-£1-coin.html

From that article:

"Counterfeit £1 coins circulating in Britain right now are worth a whopping £43 million."
"A fake £1 coin in your wallet is not only absolutely worthless but it’s also illegal to pass it onto anyone else."

Make your mind up.


"If you do find a counterfeit coin, make sure you hand it in to your local police station so that it can be taken out of circulation."
So someone has printed these to make a profit, and the person paying for that profit should be me. No thanks. And if I really wanted to take it out of circulation, I could just put it in the bin.

 

[Tony Meolas Loan Spell]

I haven't had a Manx plasticy one given to me for years and years, they're all paper again now.

Indeed they are!!

 

[seagullsovergrimsby]

"A fake £1 coin in your wallet is not only absolutely worthless but it’s also illegal to pass it onto anyone else

*not if you're unaware its a fake when giving change to an Eastern European

 

[dgh123]

I was given one not long ago but didn't notice until I left the bus!

 

[Nottseagull]

From that article:

"Counterfeit £1 coins circulating in Britain right now are worth a whopping £43 million."
"A fake £1 coin in your wallet is not only absolutely worthless but it’s also illegal to pass it onto anyone else."

Make your mind up.


"If you do find a counterfeit coin, make sure you hand it in to your local police station so that it can be taken out of circulation."
So someone has printed these to make a profit, and the person paying for that profit should be me. No thanks. And if I really wanted to take it out of circulation, I could just put it in the bin.

That's a great spot, I didn't notice the contradiction, but I should have done! I did notice you state that coins are printed, not minted; maybe they actually were, what with the advent of the '3D printer'.

 

[ManxSeagull]

They have plasticy ones in the Isle of Man which last!
http://uk.finance.yahoo.com/news/how-to-spot-a-fake-£1-coin.html

We havnt had the plastic £1 notes for a decade or more. I cannot recall the last time I saw one.

Apparantly they were not good for the economy was they didn't deteriorate. They were great if you left them in your pockets and wiife ran them through the washing machine.

 

[SK1NT]

I bloody wona fake coin at poker last night... will fob it off on someone....

 

[Chicken Runner61]

Get rid of the crap paper money and coins and get back to silver and gold. The only real currency !

 

[ben andrews' girlfriend]

"If you do find a counterfeit coin, make sure you hand it in to your local police station so that it can be taken out of circulation."
So someone has printed these to make a profit, and the person paying for that profit should be me. No thanks. And if I really wanted to take it out of circulation, I could just put it in the bin.

Surely too, that means you lose out on a pound?!

 

[Arkwright]

I bloody wona fake coin at poker last night... will fob it off on someone....

You have just hit the nail on the head, if it's fake just pass it on the the next person no one knows any better.

In my small village shop and post Office I get handed over all sorts of money and I just pass it on to the next customer.

One reason that there are so many £1 coins in circulation is because the banks won't call off £5 notes from the mint as they don't pay them out at the cash points.

 

[El Presidente]

On the day the B of E announced they are increasing QE by a further £50 BILLION, a few fake coins are an irrelevance.

 

[beorhthelm]

On the day the B of E announced they are increasing QE by a further £50 BILLION, a few fake coins are an irrelevance.

what i was thinking. im also curious when these un-fakable notes were invented and what countries use them...

 

[ben andrews' girlfriend]

Surely it's just quantitative easing?

 

[tgretton87]

what i was thinking. im also curious when these un-fakable notes were invented and what countries use them...

Australia all there money is in like a plastic wrap, Not due to counterfeiting its because the goverment was concerned that to many people went in the Sea with there cash in there pocket.

*may not strictly be true but my mate an Aussie told me

 

[El Presidente]

Surely it's just quantitative easing?

That's just posh talk for the second poo of the day.

 

[GT49er]

Well, if you want to put a couple of million of them my way.............................................