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How to make a mint..... (1)

Sep 23, 2008 5:43 AM CST How to make a mint.....
phoenix
phoenixphoenixparis, Ile-de-France France103 Threads 4 Polls 5,247 Posts
By DAVE MASTERS

Published: Today

ONE in fifty pound coins is a fake — DOUBLE the number five years ago.
More than 30 million dodgy quids are in circulation, the Royal Mint said yesterday.

Gangs with special machines are believed to be churning them out.

Tell-tale signs of a fake coin include a poorly-ribbed edge and faded colour.

In 2003, just one per cent of £1s in circulation were estimated to be false. The figure is now two per cent — the level at which public confidence in a coin is known to dip.


Concerns

Coin consultant Robert Matthews warned: “In 2004, people started refusing to take the South African 5 Rand coin due to concerns about counterfeits. Surveys put the number at two per cent.

“Eventually it had to be re-designed and re-circulated. If we’re not careful the same will happen to the pound coin.”

The Royal Mint said: “Anyone who suspects they have a counterfeited coin should not attempt to spend it.”

But it insisted that the forgery rate was “comparatively low” by global standards.

The euro coin is said to be far harder to copy, with duds estimated at just 0.1 per cent.
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by phoenix (103 Threads)
Created: Sep 2008
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