Author Topic: New pound coins in 2017  (Read 96901 times)

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Offline Bimat

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New pound coins in 2017
« Reply #360 on: April 25, 2017, 05:24:38 AM »
NO CHANGE Royal Mint hit back at fake £1 coin claims and say ‘we are confident this is not a counterfeit’

By Brittany Vonow
24th April 2017, 6:12 pm  Updated: 24th April 2017, 9:08 pm

THE Royal Mint has hit back at claims that a counterfeit £1 coin was found after a charity worker pointed out discrepancies between two coins.

Roy Wright said he was shocked when he noticed the potential fake, despite claims it the new coins were near-impossible to copy.
But a Royal Mint spokesperson said the coin is not a fake – but a genuine coin with a production fault.

He said: “The Royal Mint has not had an opportunity to examine the coin, but is confident that this is not counterfeit.

“We are not aware of any counterfeits entering circulation but welcome the public’s caution.”

He added: “The organisation produces around five billion coins each year, and will be striking 1.5bn new £1 coins in total.

“As you would expect, we have tight quality controls in place, however variances will always occur in a small number of coins, particularly in the striking process, due to the high volumes and speed of production.”

Concerns had been raised after Roy said there were subtle differences between the coin from a Co-Op in Addlestone, Surrey and others.

It is heavier, the Queen's head is more to the left, the edge is more rounded, it doesn't have a hologram and there is no detail on the head of the thistle.

The new 12-sided piece only came into circulation last month with the Royal Mint proudly announcing it was "forgery proof" and the world's most secure coin.

The new coin is meant to feature a hologram at the bottom which shows a £ symbol and the number one depending on the light.

There is also a secret high-security feature built into the coin designed to protect it from counterfeiting.

Roy said he had gone to get some change to tip for their dinner and noticed the £1 was slightly different to others.

He said he started to look closely at the coin, saying: "I then compared it against three of the normal pound coins and realised it was completely different.

"It has a different thickness and is a different colour."

He added: "The coin is completely different and is more rounded around the edge.

"There is clearly space between the engraving lines, it's a different size, the Queen's head is to the left, and there is no detail of the head of the thistle - it's just a blob.

"The stem of the coin has got no detail on it, there are a lot of things wrong with it."

The new pounds were introduced amid reports that as many as one in every 30 old pound coins were counterfeit.


Source: The Sun

It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline augsburger

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Re: New pound coins in 2017
« Reply #361 on: April 25, 2017, 07:47:26 AM »
The problems are, it doesn't need to be an exact replica of the coin, as shown by the previous pound coins, and the other is that either there's a massive quality control problem, or there are fakes out there.

Offline chrisild

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Re: New pound coins in 2017
« Reply #362 on: April 25, 2017, 10:57:06 AM »
If the obvious differences are there merely due to some production fault, then that is a major flaw. ;) Guess that this piece is either from an earlier phase (trial period maybe) of the production, and should not have left the mint - or it is a counterfeit. And yes, of course coins (and notes) and be counterfeited, even the most secure ones. After all, the fake piece does not have to be "perfect" in order to be accepted by a human eye and hand, just reasonably similar.

But this is certainly a dilemma. Fake? People may say, look, only a few days after the date of first issue we have counterfeits out there again. Authentic? Ah, then why should I care about subtle security features which, after all, may or may not be there ...

Christian

Offline eurocoin

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Re: New pound coins in 2017
« Reply #363 on: April 25, 2017, 11:21:40 AM »
Of course this is absolutely not a counterfeit. The micro edge lettering on the coin of which is suspected that it is a fake is clearly visible. Counterfeiters are unable to copy that. Quality standards clearly seem to have dropped at the Royal Mint in recent years. There are quite a few reports of new 1 pound coins that are a little off, just like this one. 1.5 billion coins had to be made, it is not very strange at all that not every coin is the same.

Offline FosseWay

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Re: New pound coins in 2017
« Reply #364 on: April 25, 2017, 11:35:51 AM »
Weak strike, especially on the brass part? It's not just the thistle - the definition is less good on the brass parts of the shamrock and the rose, as well.

Offline eurocoin

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Re: New pound coins in 2017
« Reply #365 on: April 25, 2017, 07:00:40 PM »
The total number of trial pieces for the new 1 pound coin that was made by the Royal Mint is 234,586 these were handed out to 743 different applicants, meaning that on average every applicant requested 315 trial pieces.

Offline eurocoin

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Re: New pound coins in 2017
« Reply #366 on: May 25, 2017, 04:35:29 PM »
First lookalike new pound coins have been found in circulation. The Singaporese 1 Dollar coin is very similar to the new pound coin and only worth 55p. The Singaporese 1 Dollar coin is 1 gram lighter and 1 mm larger so I do not think it works in vending machines.


Offline augsburger

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Re: New pound coins in 2017
« Reply #367 on: May 26, 2017, 03:34:50 AM »
Maybe I should go to Singapore before I go home. If each coin makes me 1.45 then then I need to bring back about 200 to make any kind of profit........  >:D >:D

Offline Figleaf

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Re: New pound coins in 2017
« Reply #368 on: May 26, 2017, 11:06:28 AM »
If you have been in China that long, Singapore is the perfect decompression method: friendly people, good food, excellent tailors, wild shopping and one the best bird parks in the world. However, unless you plan to swim home, don't forget that they scan your luggage. ;D

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

Offline eurocoin

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Re: New pound coins in 2017
« Reply #369 on: June 06, 2017, 12:33:18 PM »
There are currently rumours that because of the extremely large amounts of coins that had to be minted, a part of the new 1 pound coins has been minted at a foreign mint. Does someone on here know more about that?

Offline AardHawk

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Re: New pound coins in 2017
« Reply #370 on: June 07, 2017, 11:08:04 AM »
The total number of trial pieces for the new 1 pound coin that was made by the Royal Mint is 234,586 these were handed out to 743 different applicants, meaning that on average every applicant requested 315 trial pieces.
Eurocoin, where did this information come from? Do you have a link?
Thanks.

Offline eurocoin

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Re: New pound coins in 2017
« Reply #371 on: June 07, 2017, 12:38:32 PM »
Eurocoin, where did this information come from? Do you have a link?
Thanks.

I have asked my contact at The Royal Mint to provide me this information. I am the only one, outside of the Royal Mint, who has received this information. A copy of the correspondence between my contact at The Royal Mint and I related to the trial 1 pound coin has been provided to you by private message. Exclusivity is something that you will find more often on this forum.

Offline eurocoin

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Re: New pound coins in 2017
« Reply #372 on: June 07, 2017, 05:43:47 PM »
I have now seen the first reports of people having rusted new 1 pound coins, all of which are dated 2016. This is possibly related to the production error that happened at the Royal Mint during the production of the new 10 Rupees coin of the Seychelles which appears to have been made of the same alloy.

Offline Bimat

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New pound coins in 2017
« Reply #373 on: June 07, 2017, 05:56:43 PM »
I have now seen the first reports of people having rusted new 1 pound coins, all of which are dated 2016. This is possibly related to the production error that happened at the Royal Mint during the production of the new 10 Rupees coin of the Seychelles which appears to have been made of the same alloy.

*Facepalm*.

Aditya
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Offline andyg

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Re: New pound coins in 2017
« Reply #374 on: June 07, 2017, 06:30:27 PM »
I have now seen the first reports of people having rusted new 1 pound coins, all of which are dated 2016. This is possibly related to the production error that happened at the Royal Mint during the production of the new 10 Rupees coin of the Seychelles which appears to have been made of the same alloy.

Wonder how common the problem is,  at work we usually handle two to three thousand per day of which maybe 30% are still old ones and I've yet to spot a dud one (or a foreign one). Maybe they might be worth something if you get one.  I do have a big pile of fake old type pound coins though....
always willing to trade modern UK coins for modern coins from elsewhere....