Spot the fake!
Detail:
It’s a story that keeps resurfacing – I’m referring, of course, to the vast numbers of fake £1 coins in circulation. And chances are retailers will handle this fake currency every day.
Yet most people realise they have a fake coin only when a vending machine or parking meter spits it back, as these contain devices to monitor whether the metal composition of the coins is correct.
The number is mind-boggling: it is thought that one out of every 36 coins in use today could be a fake, or 41 million coins. Apparently, counterfeiters have turned their attention to pound coins because increased security measures make it easier to spot counterfeit notes.
Yet if you do hand in your counterfeit money to a bank or police station, you are not refunded. Which to me seems to compound the problem because there is no incentive to get these coins off the street, and so they will remain in circulation.
But if you do knowingly trade in fake currency, you could be liable for prosecution. Damned if you do, damned if you don’t, by the looks of things!
What you have to do, therefore, is become a bit of a sleuth at detecting these fake coins and refuse to accept them as payment.
But how can you spot a fake one-pound coin? Well, apparently there are five possible ‘tells’.
• The first is that the Queen’s head may be indistinct on a fake coin
• The cross found on the edge of real coins is finely engraved, but potentially less distinct on fakes
• Fake coins are also often thinner, lighter or a different colour
• If you hold the coin so the Queen’s head is upright and facing towards you, when you look at the back, the pattern should also be upright on a real coin
• Finally, the ribbed edge of the coin is less distinct on fakes.
I tried comparing the pound coins in my wallet, and spotted at least one that falls into the counterfeit bracket. But it sure took me a long time to compare and come to that decision – much easier with a £20 note and special pen. I honestly do not see how busy retailers are going to be able to spend the time to check each and every single pound coin that is offered as payment.
My sister-in-law knowledgeably informs me that if a pound coin has been rejected from a parking meter, to wet it and the machine will then accept it the second time round. I think I might just use that counterfeit coin in my wallet and try her method – all in the name of science, you understand.
Yet most people realise they have a fake coin only when a vending machine or parking meter spits it back, as these contain devices to monitor whether the metal composition of the coins is correct.
The number is mind-boggling: it is thought that one out of every 36 coins in use today could be a fake, or 41 million coins. Apparently, counterfeiters have turned their attention to pound coins because increased security measures make it easier to spot counterfeit notes.
Yet if you do hand in your counterfeit money to a bank or police station, you are not refunded. Which to me seems to compound the problem because there is no incentive to get these coins off the street, and so they will remain in circulation.
But if you do knowingly trade in fake currency, you could be liable for prosecution. Damned if you do, damned if you don’t, by the looks of things!
What you have to do, therefore, is become a bit of a sleuth at detecting these fake coins and refuse to accept them as payment.
But how can you spot a fake one-pound coin? Well, apparently there are five possible ‘tells’.
• The first is that the Queen’s head may be indistinct on a fake coin
• The cross found on the edge of real coins is finely engraved, but potentially less distinct on fakes
• Fake coins are also often thinner, lighter or a different colour
• If you hold the coin so the Queen’s head is upright and facing towards you, when you look at the back, the pattern should also be upright on a real coin
• Finally, the ribbed edge of the coin is less distinct on fakes.
I tried comparing the pound coins in my wallet, and spotted at least one that falls into the counterfeit bracket. But it sure took me a long time to compare and come to that decision – much easier with a £20 note and special pen. I honestly do not see how busy retailers are going to be able to spend the time to check each and every single pound coin that is offered as payment.
My sister-in-law knowledgeably informs me that if a pound coin has been rejected from a parking meter, to wet it and the machine will then accept it the second time round. I think I might just use that counterfeit coin in my wallet and try her method – all in the name of science, you understand.
By:
Sandra
Date/time :
31/08/2010
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