New Pound Coins
- Thread starter Craig1981
- Start date
And yet nothing else is more reliable than cash.
Tell that to Venezuelan's, they're only mildly comforted by the black market.
Saying that though, a digital currency wouldn't help there either, but it's still relevant.
Tell that to Venezuelan's what? The black market isn't the only reason to want physical currency to stay around. It's about the reliability and there isn't really an argument against it.
That a currency can be come useless and no longer be "reliable", just like in the depression.
11p coins are definitely fake.
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It's pay and display machines I work on. Wear/damage will be a big factor in the machine not accepting them, machine needing recalibrated, dirt in the coin sensor etc etc
If you're finding half of your coins don't work either the machines your using are crap or you need to make better coins
It'll depend on the machine that initially accepts them, if it's only looking at diameter or width then it'll accept a lot of coins.
As money moves further up the cash chain ie counting houses/bigger banks they count/sort coins in bigger fancier machines that will effectively check every coin rather than a bag of 20 weighs x grams.
I suspect that the end user is given the benefit of the doubt and dodgy coins are filtered/swapped out higher up the chain.
Years ago I did hear that royal mint changed metal content of one pence coin and the payphones in schools were full of them - seems payphone thought it was a 20p coin -- BT had to go round programing them to ignore 20p coin
I remember you used to be able to stick two old 5p coins together and use them as a pound coin in some places.
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I hardly use cash anymore, contactless cards + chip and pin FTW. Plus I use apps to pay for parking and bus tickets when required.
I travel to the US frequently and haven't used cash there either in the last couple of years. Card machines everywhere.
I travel to the US frequently and haven't used cash there either in the last couple of years. Card machines everywhere.
That depends on the machine, which largely depends on its purpose and price. Machines intended to rapidly sort and count large numbers of coins probably won't distinguish fakes of the right size and weight from real coins. Often not even fakes of the right size but wrong weight, since sorting is often done solely by size and counting solely by simple sensors that will be triggered by pretty much anything opaque and even close to the right size. Automated machines made for a lower rate of coin handling can be far more discerning when it comes to fakes, even to the extent of detecting fakes that humans miss.
In both cases, more discerning equipment is more expensive, sometimes to the extent that it's cheaper to allow better fakes through than to buy the best coin mechs. For example, a low volume vending machine will probably have a less discerning coin mech than a fruit machine.
So, for example, my workplace has a sort/count machine that will sort and count mixed coinage at a startling rate. I'd estimate about 2Kg per second. It's very fast, very reliable, very accurate and not horribly expensive...but it'll pass anything that's opaque and the right diameter. At the other extreme are the mechs in the fruit machines, which have a coin handling rate low enough to be easily outpaced by a dextrous person feeding it one coin at a time and are rather expensive...but I've never known one accept a fake coin at all, ever.
That's an urban myth. There's no evidence of there ever having been any such law and there certainly isn't one now, not even one that isn't enforced.
A less implausible version of the myth is that there was at some point a local law allowing people in York to kill armed Scotsmen in the city, but there's no evidence for that either and it doesn't bear much scrutiny. The alleged reason is defence against the city being attacked, but obviously it would be legal to kill people attacking the city. There wouldn't be any reason to have an extra law about it. The idea that it was explicitly made legal in York to assume that any armed Scotsman was part of an invading army and to kill them is dubious at best without any evidence of any such law ever existing.
We get fake pound coins in our deliveries from the security company. We're sure of this because the coins are checked on site as they're counted and repackaged(*). It's common enough to have a standard accounting procedure. We also get some coming in from customers which aren't noticed and rejected by staff at the time but are noticed later and that's also common enough to have a standard accounting procedure. I don't doubt that we bank some fake ones too, since in our case the bagging is automated and the high volume coin sorter and counter sorts on diameter only.
* Standard £1 delivery is in £500 bags and that's not a practical amount for most of the day to day usage in my workplace. It's too heavy to carry around conveniently and too slow for serving customers at busy points.
I am sure I saw I thing a few years ago about a new conterfeit detecting machine which could catch 20 to 30% more fakes and even the best counterfeit machines only detect 70% of fake pound coins so they keep going round and round in circulation.
A quick google found this
A,axing the royal mints machines are worse than commercial ones.
Really? It was mentioned lots in 2012 when 800 old and archaic acts were removed from uk law and this was supposedly one of them
http://metro.co.uk/2012/04/04/scott...elax-in-york-as-archaic-laws-face-axe-375726/
Although I do note that the original law was that the Scotsman had to be carrying a bow and arrow.
I'd happily use such if I could do so anonymously. But so far as I know, there's no way to load something up with cash to use without it being tied to your bank account, personal details, etc. I don't want my shopping habits compiled and shared with Google, et al.