It has been announced today that an estimated 1 in 36 pound coins are counterfeit. This is more than 6 times higher than the amount seized last year.
The Royal Mint have described how to spot a fake from an authentic pound coin, apparently the fake coins have:
- a poorly defined ridged edge
- indistinct lettering or wrong typeface on the edge
- On an authentic coin the Queen's head and the pattern on the reverse should both be upright when the coin is turned over
- The design on the reverse should correspond with the official design of the year of its issue
I think these guidelines are pretty vague, and if that's the case then I could have easily handled a lot of fakes in my time. It is quite scary to think how easy it must be for people to replicate these.
Jenny
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