New Pound Coins

Tesco are also in the process of changing all the trolleys to take the new coin plus older tokens. An article says it will cost the vending and entertainment industry 31 million to change over.
 
DONOHUE07 said:
I didn't even know there was a new £1 coin!
Click to expand...

Have you been living under a rock? :D

The old £1 dates back years, so it's no wonder that 1 in 30 are likely to be a fake. I suspect it probably costs the treasury more in losses each year than the R&D for the new coin. As these coins have become very high tech, i suspect the typical low end crook will find these too hard to attempt to copy. Any copies will likely be from large organised crime groups that have specialist equipment and someone in the know.

I wonder if they'll move the new tech into other coins such as the £2 (albeit being fairly new), the 50p and the 20p. I suspect maybe over time, but with lower end coins it's probably more of a cost to replace than the loss that they make.
 
Greebo said:
Issue is cost though. If costs the forgers too much to fake each pound coin it wont be worth it for them.
Click to expand...

The issue would be as much with the average persons attitude towards the fake. If a good quality forgery is unprofitable, they would forge poorer quality ones as long people still pass them round.

How many people here have refused to use every fake £1 they have received?
 
Ekim said:
I read an article about this recently. An arcade owner had to spend £30k updating his machines.

*edit* here it is:
http://www.bbc.com/news/uk-wales-north-west-wales-39416192
Click to expand...

It's a fair comment, but he had 1000 slot machines, that makes it £30 to change each slot machine. If there's a 1 in 30 chance of £1 coins being fake, would mean every 900 coins goes through his machine, 30 would be fake, which effectively means it would pay for itself.
 
Forgers are good though. They do say there are a lot of £20 forgeries which passes the banks machines for checking and then get handed back out to the public.
 
Crpwned said:
One thing I was wondering with the introduction of the new £1 coins is who pays to have all the things amended that take them? i.e. supermarket trolleys, gambling machines, vending machines, lockers etc.?
Click to expand...

The Mexicans. If Trump can make them pay for a wall, we can make them pay for this.
 
Semple said:
It's a fair comment, but he had 1000 slot machines, that makes it £30 to change each slot machine. If there's a 1 in 30 chance of £1 coins being fake, would mean every 900 coins goes through his machine, 30 would be fake, which effectively means it would pay for itself.
Click to expand...

Yeah, he also had in-house engineers so is likely significantly cheaper for him in comparison to others.
 
robfosters said:
When I was in year 9, about 1993-4, there was a Somalian kid whose dad was a right crook. This kid used to bring in bags of fake pound coins and handed them out to everyone in an attempt to win friends. The tuck shop workers knew they were fakes, but the coke machine (yes, schools were allowed coke machines back then) didn't and my rucksack would weigh a ton carrying it home full of fizzy drinks. The staff didn't suspect anything, they just refilled the machine daily, and we'd go again. Eventually, it all came to an unhappy end when the engineer came to empty it and notified the headmistress that it was full of fake coins. They switched it off and put a fridge in the tuck shop. Spoilsports.
Click to expand...

You were happy to commit mass fraud?

Nice
 
Flashy high tech machines will just need a firmware update and the less flashy ones just need the slot changed over, which does not require any special skills to do and is fairly easy as they are made for easy maintenance.

The vast majority of places rent their machines and so will be managed by engineers anyway. Even blokes who applied for a license, buy a dozen second hand Noel's off ebay and rent them out to pubs would easily change them themselves with a screw.driver
 
opstrat said:
Tesco are also in the process of changing all the trolleys to take the new coin plus older tokens. An article says it will cost the vending and entertainment industry 31 million to change over.
Click to expand...

I thought they'd designed the coin so that extremely low tech items (e.g. trolleys & lockers) would still work with the new design?

After all, they essentially just need a round(ish) object of roughly the same dimensions
 
Daaaavvveee said:
Who wouldn't at 9 years old!

I suspect he didn't actually think of it as that!
Click to expand...

Exactly, this is just the kind of capers that went on at my school, we would never have dreamed of stealing from a shop or anything but cheating the systems in the school was another matter.

The future will be a far more boring place...
 
Of course not when your are kids. We had a vending machine go wrong one day and when you put a quid in it gave you the item and change of a pound. Who wouldnt empty it?
 
Semple said:
It's a fair comment, but he had 1000 slot machines, that makes it £30 to change each slot machine. If there's a 1 in 30 chance of £1 coins being fake, would mean every 900 coins goes through his machine, 30 would be fake, which effectively means it would pay for itself.
Click to expand...
You're making the assumption that his machines would accept a fake coin anyway.
Our machines are calibrated to accept coins within a tolerance of the Mints coin specs, doesn't meet that machine won't accept it. Our cash is counted by G4 and I've never seen anything in the fake column on our banking spreadsheet.
 
Craig1981 said:
So the new pound coins have come out. Not seen any yet though. Any of you seen them turning up yet in your change?

And do you think this will have a major impact on forgeries? Or will the crooks just up their game and turn out fake versions of the new coins?
Click to expand...

Can't we just dole out the death penalty to anyone caught unofficially making them?
 
I had a new pound in some change yesterday...

Pretty nice - disappointed by the "hologram" (which is quite cool but not technically a hologram)...

Queenie is looking super old on it... Haven't tried putting it in a vending machine yet but comparing it to an old coin it seems pretty similar size/weight so I reckon it might work
 
pioneer2000 said:
Can't we just dole out the death penalty to anyone caught unofficially making them?
Click to expand...

Well until 1998 it was the last thing your could still get capital punishment for despite all other offences been stopped since 1965.

Purely on the basis that counterfeiting money is hgih treason and hence punishable by death.

Equally until 1998 the death penalty was still in force for having sex with the Queens husband or unmarried daughters.
 
uncle_rufus said:
I had a new pound in some change yesterday...

Pretty nice - disappointed by the "hologram" (which is quite cool but not technically a hologram)...

Queenie is looking super old on it... Haven't tried putting it in a vending machine yet but comparing it to an old coin it seems pretty similar size/weight so I reckon it might work
Click to expand...

Weighs less. Quite a bit less as well. Its thinner but slightly wider.
 
You must log in or register to reply here.
Back
Top Bottom