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Counterfeit £1 Coins


Despite the Royal Mints efforts to withdraw counterfeit £1 coins at cash centres, a survey undertaken by themselves in November 2013 found that the rate had risen from 2.74%to 3.04%, that’s despite withdrawing an estimated 2 million fakes during the year?


In March 2014 the Chancellor revealed that the HM Treasury believes there is now a strong case for introducing a new £1 coin to help reduce counterfeiting and ensure the integrity of the UK’s currency.


However, the Royal Mint has yet to finish the design of the coin stating that ‘’A public consultation will be held over the summer focusing on how to manage any impacts before a final decision is made on the precise specification of the new coin, including the metal composition .'’


They also state that ‘’A public design competition will be held at a later date to choose the design for the reverse, or ‘tails’, of the coin which is expected to be introduced in 2017.’’


It seems strange that the Treasury have announced a new coin before it has been designed and before the key industry stakeholders have been consulted on how to manage any potential impact for industry?


The Royal Mint also use the word '' EXPECTED' to be introduced in 2017, so it its anything like the new 5p and 10p it will be delayed.



Latest News

Five arrested 25/1/2015

Five arrested 25/1/2015

New £1 consultation

Counterfeit £1 coin information

Catalogue of fakes

Counterfeit fact file No6

Counterfeit fact file No5

Counterfeit fact file No4

Counterfeit fact file No3

Counterfeit fact file No2

Counterfeit fact file No1

1 in 40 £1 coins worthless

Taking on counterfeiters

1 in 20 £1 coins worthless

Fakes level rises to 2.81%

External Links

Royal mint - Don't get trapped

Royal Mint - £1 coin designs

Government disclosure

Mint report May-June 2008

Mint report Oct-Nov 2008

Mint report May-June 2009

Announcement of new £1 coin

New £1 consultation

News Articles

BBC News 23/05/2014

BBC News 21/05/2013

Burton Mail 07/02/2012

Independent 25/05/2012

BBC News 25/05/2012

BBC News 06/07/2012

Independent 26/02/2010

Independent 31/03/2010

BBC News 01/04/2010

BBC News 26/02/2010

BBC News 04/12/2009

BBC News 23/12/2009

BBC News 15/12/2009

BBC News 21/09/2009

BBC News 07/12/2007

BBC News 14/12/2007

BBC News 22/12/1999

The prototype £1 coin will be constructed from two different coloured metals and contain an integrated Secure Identification Systems - iSIS a revolutionary new high security coinage currency system developed by The Royal Mint.


This new technology will apparently – enables not just coins, but the whole cash cycle to be more secure, protecting the public, vending machine operators, retailers, and the wider banking system.


Andrew Mills, The Royal Mint’s Director of Circulating Coin, said, “The development of our iSIS project has enabled us to develop a new generation of low cost, high security, plated coin with multiple levels of banknote-strength security built in. It will enable enhanced security throughout the cash cycle, from vending, parking, retail, and banking.” iSIS is the culmination of a period of intense research and development by The Royal Mint’s in-house team, and has seen an investment of over £2m to date, with a significant amount more planned over the next couple of years as the iSIS technology is commercialised.


Reporting Fake £1 Coins