UK NEWS
1 IN 40 CHANCE POUND IN YOUR POCKET IS FAKE
Watch out for fakes
By Anil Dawar
More than one in every 40 pound coins in circulation is counterfeit, the Royal Mint revealed yesterday.
This represents £375million in fakes.
And the problem is getting worse, threatening to undermine public confidence in the currency.
Annual surveys show the ease with which criminals are pumping millions of fake coins into the system.
In 2002, fakes accounted for one in every 100 coins sampled by the Royal Mint. By 2007 it was one in 50 and last year it had risen to one in 40 – the highest figure since the one-pound coin was introduced in 1983.
Counterfeit expert Gerry Day said one of the reasons there were so many fakes is because the one-pound coin is made from a single alloy of metal.
He urged the Royal Mint to switch to a two-alloy design similar to that used for two-pound coins.
Mr Day said: “You can never stop forgers but you can make it more difficult and expensive.
“The Royal Mint should seriously consider changing the pound coin to a two-metal coin. They are much more expensive to counterfeit. The pound coin as it is, is too easy to copy. The quality of them is getting better.
“Some fakes are so good they are even slipping through the banks’ filters.”
Mr Day estimated the cost of setting up a counterfeiting operation was about £10,000, which could then churn out fakes at a rate of about 100 an hour.
He said: “The coins cost about 30p each to make and sell for about 80p.”
Royal Mint officials are in talks with the Treasury and police about the problem.
Martin Cragg, Royal Mint head of corporate affairs, said: “A number of measures are being undertaken by the Royal Mint with third parties to combat counterfeiting, including HM Treasury, the banks, vending operators and law-enforcement agencies.
“In particular, we are considering whether it would be appropriate and helpful to issue further publicity material which may assist the public and others to identify counterfeit coins.”
HAVE YOU'RE SAY -DISABLED
31.01.09, 11:27am
Has the Daily Express been leant on by shaddowy figures in the government to deny people their right to free speach and to comment on politically sensative subjects....is in the interests of National security or just to save the morons running this country from the truth or to save their red faces??????
Also has the DE been leant on to supply the details of those dissenters (sorry law abiding members of society ,voters and taxpayers i meant to say) so they can be put on file in some secret STAZI office within the government.......? you tell me?
• Posted by: jonG • Report Comment
THE POUND IS WORTH SO LITTLE AT THE MOMENT WE MIGHT AS WELL GET THE MONOPOLY OUT AND USE THAT
30.01.09, 11:24pm
• Posted by: Manc_Mike • Report Comment
BANNED
30.01.09, 7:57pm
We definitely aren't allowed to comment on those two famous doctors who seem to have got away with murder.
• Posted by: Majomvagyoksziasztok • Report Comment
I ALSO AGREE.......EXPRESS HAS BEEN NOBBLED!
30.01.09, 7:13pm
IS THIS ANOTHER EXAMPLE OF THE DENTISTS CHAIR SYNDROME........
IE THE ONE IN THE CHAIR GETS HOLD AND SAYS WE ARE NOT GOING TO HURT EACH OTHER ARE WE!
BEEN BUYING THE EXPRESS FOR THIRTY YEARS BUT THAT IS SOON TO CHANGE
• Posted by: JackDoff • Report Comment
VERY SMALL ODDS......
30.01.09, 7:10pm
ESPECIALLY AS THE POLITICIAN / LORD IN YOUR POCKET IS 100 PER CENT FAKE!!!!!!!!
• Posted by: JackDoff • Report Comment
PELTAST AND COMMENT UNAVAILABLE............
30.01.09, 6:34pm
I totally agree. There's something very strange going on at the Daily Express, we used to be able/free to comment on anything and everything which is why so many of us liked using the site.
Smacks of something political and involving this present government who's interference reaches everything.
AS FOR TONY BLIAR, I HOPE TO GOD HE NEVER GETS A GOOD NIGHTS SLEEP EVER AGAIN FOR WHAT HE HAS DONE TO THIS COUNTRY AND FOR THE LOSS OF THE LIVES OF SO MANY OF OUR SERVICEMEN FOR HIS OWN ENDS.
• Posted by: Jac16 • Report Comment
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