Author Topic: UK Finance warns for counterfeit 2 pound coins  (Read 353 times)

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Offline eurocoin

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UK Finance warns for counterfeit 2 pound coins
« on: July 14, 2020, 04:11:25 PM »
UK Finance has in conjunction with the National Crime Agency's Counterfeit Currency Unit and The Royal Mint released an alert for financial institutions in Scotland. Counterfeiters there deposit fake coins in bulk and pre-bagged at banks, likely hoping that the coins will not be sent to the cash centres but rather will be given out again by the bank branch. The fakes are dated 2011 and 2015. A copy of the alert can be viewed here.

This counterfeiting ring, of which specialized collectors have been able to determine that it is located in Glasgow, has been actively producing counterfeits since at least June 2017 (over 3 years). It is bad that only now there is being warned for this.

The UK government and The Royal Mint have very limited information about counterfeits. Their approach to this problem fails miserably. It is unfortunate that they show little to no interest in the enormous amount of data collected by a small group of collectors who have become the real experts in this area.
« Last Edit: July 14, 2020, 05:13:33 PM by eurocoin »

Offline brandm24

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Re: UK Finance warns for counterfeit 2 pound coins
« Reply #1 on: July 14, 2020, 05:14:12 PM »
The Royal Mint would be wise to heed the advice of those who actually know what's going on. It must be frustrating beyond belief to share their expertise with the institutions that can actually do something about it and then be ignored. Sheer stupidity.

Have you seen any pictures of the fakes? I was going to say they must be of high quality to have been passed for that length of time, but it seems that maybe the counterfeiters were just lucky. In any case, to have been going on for three years is unacceptable. Thanks for the heads-up, eurocoin.

Bruce
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Offline andyg

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Re: UK Finance warns for counterfeit 2 pound coins
« Reply #2 on: July 14, 2020, 05:34:57 PM »
I'm glad only 2011 and 2015 are fakes...

These all received January to March this year,  none since we stopped using cash in lockdown.
always willing to trade modern UK coins for modern coins from elsewhere....

Offline eurocoin

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Re: UK Finance warns for counterfeit 2 pound coins
« Reply #3 on: July 14, 2020, 05:35:47 PM »
Over the years they have used several minting dies, resulting in several types. Below I will post a few images that the collector-experts have. I do not have the images that were shared by UK Finance as part of their alert.

This counterfeiting ring in Glasgow has been faking Technology 2 pound coins. Until very recently they only did 2011-dated ones but since a few weeks they have started producing 2015-dated pieces. I will include a piece of each date.




Offline andyg

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Re: UK Finance warns for counterfeit 2 pound coins
« Reply #4 on: July 14, 2020, 05:44:12 PM »
One of our forum members "RED" maintains a website of these things -
plenty to choose from, the special designs though (eg the Gib Breast Cancer coin) seem to be made for collectors.
http://www.thefakepoundcoindatabase.co.uk/TwosByYear.html#2016
always willing to trade modern UK coins for modern coins from elsewhere....

Offline eurocoin

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Re: UK Finance warns for counterfeit 2 pound coins
« Reply #5 on: July 14, 2020, 05:53:09 PM »
You have found a varied selection of counterfeits.
Our forum member RED is indeed one of these 4 collector-experts.

Offline eurocoin

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Re: UK Finance warns for counterfeit 2 pound coins
« Reply #6 on: July 14, 2020, 08:12:26 PM »
Post offices in the UK have now also received an internal warning about these fakes. The warning contains a few further details about the fakes. Amongst other things they mention a lack of detail in the hair, crown and on the cogs. They also write that all of the pieces have the same reverse design (so all Technologies). Furthermore they mention that some of these fakes leave a metallic residue when handled.

Offline brandm24

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Re: UK Finance warns for counterfeit 2 pound coins
« Reply #7 on: July 14, 2020, 08:37:16 PM »
I can see the lack of detail in the hair especially. If you know what to look it doesn't look too difficult to spot.

Bruce
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