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New pound coins in 2017

Started by andyg, March 18, 2014, 11:47:34 PM

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malj1

It was obvious to me they would be counterfeited as how many people actually look at their coins when receiving them ???

The lack of minute lettering would prove its not genuine but who will look at every one to check? Maybe the first few weeks and then....

Change sorters will reject them but by then its too late for Joe Citizen.
Malcolm
Have a look at  my tokens and my banknotes.

eurocoin

#451
Quote from: malj1 on December 31, 2017, 10:29:19 PM
It was obvious to me they would be counterfeited as how many people actually look at their coins when receiving them ???

The lack of minute lettering would prove its not genuine but who will look at every one to check? Maybe the first few weeks and then....

Change sorters will reject them but by then its too late for Joe Citizen.

Correct indeed. Many of the security features in this 'high secure coin' are only things that banks or The Royal Mint will check. The only real improvement normal citizens may notice is when a counterfeit does not have the 12-sided shape but apparently counterfeiters are able to copy that without any problem (and also including the alternate reeding on the edge).

Alan71

Plus there's still only the one reverse design so far, so that must also help the counterfeiters. 

I'm not too surprised either, the Royal Mint were never going to be ahead of the game for too long.

What next, a polymer £1 banknote?!

redlock

Quote from: Alan71 on January 01, 2018, 12:16:47 PM
What next, a polymer £1 banknote?!

No, a polymer-ringed £1 coin  ;D

andyg

always willing to trade modern UK coins for modern coins from elsewhere....

Figleaf

First, four times £1.15 is £4.60, not £5. I understand typos (boy, do I understand them!) but the mistake is made repeatedly.

Second, if I understand this fuzzy article correctly, it is possible to pay electronically, in which case a pound will go for one quid. I understand inertia, but a market in old pounds?

Third, if buying old coins above par is a black market, all coin collectors are black market operators. Does the author even understand the concept of a black market?

Draw your own conclusions.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

chrisild

Quote from: Figleaf on January 25, 2018, 12:11:29 PM
First, four times £1.15 is £4.60, not £5. I understand typos (boy, do I understand them!) but the mistake is made repeatedly.

But is it actually a mistake? To me this looks like a span - he heard that some people pay something between £1.15 per old pound coin and £5 for four of them ...

In any case, I think the key term here is "ahead of local elections". ;)

Christian

EWC

Its a further move against free at point of use coin, to a profit generating system favouring card and phone companies

Alan71

Quote from: Figleaf on January 25, 2018, 12:11:29 PM
First, four times £1.15 is £4.60, not £5. I understand typos (boy, do I understand them!) but the mistake is made repeatedly.
I'm reading it that's it's different black market sellers.  One is selling them at £1.15 each and another at four for £5.  It wouldn't be the same seller, but the article doesn't make it clear.

malj1

Malcolm
Have a look at  my tokens and my banknotes.


eurocoin

Quote from: Alan71 on January 31, 2018, 08:45:27 PM
The latest £1 coin error... the 12-sided designs struck on the old round £1 blanks...

http://blog.changechecker.org/?utm_source=chch%20site&utm_medium=menu&utm_campaign=blog%20link&utm_content=blog%20link&utm_campaign=1+pound&utm_content=post&utm_medium=social&utm_source=general&utm_term=

Complete (explicative deleted). This is the outer ring of a new 1 pound coin of which the center was not punched out.

Alan71

I wasn't sure, it's hard to tell from the photos.  The 12-sided rim is part of the strike so still shows, but I can't make out if the coin itself is round or 12-sided.  It does seem extremely unlikely that the Mint would make such an error so you're probably right. 

milkshakespeare

There is also the possibility that it is not an accident, but a result of greedy hands at the mint.

eurocoin

Of the approximately 235,586 2015 and 2016-dated trial pieces that were lend to vending machine manufacturers, only around 15,000 were so far returned and processed. The deadline for the return of the pieces was December 31, 2017.

The Royal Mint has contacted all manufacturers that have not returned (all of) their pieces to remind them of their obligations under the terms and conditions of the contract they have signed. This to the surprise of many collectors who thought The Royal Mint would not bother about the pieces once the deadline had passed.

The manufacturers had to pay the mint 1 pound per trial piece which would be refunded once the mint had received the trial piece back. Although The Royal Mint has always refused to provide a copy of the agreement, it is my understanding that it also contains a clause which says that manufacturers that only return a part of the lend trial pieces do not receive any of the deposit back.

Mid January of this year also monometallic 2014-dated trial pieces have suddenly appeared. Although these appear to be very rare, it is unknown how many were made. Furthermore it is unknown how these got out of the mint.