Tag Archives: coin collecting

New fake pound coin type? Coin forgery for fun and profit…

First post of 2011! Just when it seemed the Police had the pound coin forgers licked (or at least nicked) a possible new fake pound coin type has emerged, if not a new type it is certainly a new one to this area at least, far brighter and shinier than the previous ones:

fake pound coin photo
Though the numbers of fake pound coins in circulation seems to have decreased over the last few months, I still wonder what impact they are having on the economy. Time to go back to the good ole £1 note!
fake pound coin photo

The easiest way to spot them is still the poorly executed edge inscriptions:

fake pound coin photo

fake pound coin photo

fake pound coin photo

fake pound coin photo

Wikipedia says: “A Royal Mint survey in January 2009 estimated that 2.58% of all £1 coins in circulation are counterfeit. This represented a considerable increase, up from 2.06% a year earlier, with the highest level of counterfeits being in Northern Ireland (3.6%) and London and the South East (2.97%) and lowest in Northwest England. Some estimates place the figure closer to 5%. An earlier survey in 2006 gave an estimate of 1.7%, which itself was nearly twice earlier estimates.

In July 2010, it was reported there were so many counterfeit pound coins in circulation (about 2.81% or about 1 in 36) that the Royal Mint were considering removing the current £1 coin from circulation and replacing it with a new design. Bookmakers Paddy Power offered odds of 6/4 (bet £4 to make £6 profit) that the £1 coin would be removed from circulation.

One common method of detecting counterfeits (if the sound of the coin on a table or the colour of the metal does not indicate something suspicious) is to check whether the reverse matches the edge inscription for the alleged year – it is extremely common for counterfeiters to get this wrong. Also, the writing on the edge may be in the wrong font and look very poor (see image), and the coins often generally look much less sharp and defined, lacking intricate details. Most counterfeit £1 coins in circulation are made of brass, and most lead copies are easy to spot and are quickly removed from circulation.”

New London Coins Auction catalogue, auction 131 on 5th and 6th of December

New London Coins Auction catalogue

The new London Coins Auction catalogue is out. The catalogue for the auction is up to London Coins Auction usual high standard (with loads of colour photographs), as are the the offerings within. The sale catalogue contains more than 2300 individual lots. Fewer ancients in this one than usual, but as always, there is something in this sale for everybody.

The auction takes place on the Sunday 5th and Monday 6th of December at the Grange Hotel, Charles Square, Bracknell, Berks, RG12 1ED.

Bids by e-mail : bids@londoncoins.co.uk,  or  snail mail to 4-6 Upper Street South, New Ash Green, Kent DA3 8JJ, phone 01474 871464 or fax 01474 872173. See www.londoncoins.co.uk for more info.

Metal Detecting UK