Originally posted by AtW
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Reply to: Fake coins
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Previously on "Fake coins"
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Originally posted by AtW View PostJust remember one thing - if you are using a coin that you are aware as a fake then in all probability you are committing a serious crime...
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Originally posted by sasguru View PostDoes it really matter with a fiat currency? The coin symbolises a value of £1, so surely a "fake" can do that as well as a "real" one?
What does the value of £1 really mean?
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Originally posted by sasguru View PostThe coin symbolises a value of £1, so surely a "fake" can do that as well as a "real" one?
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Does it really matter with a fiat currency? The coin symbolises a value of £1, so surely a "fake" can do that as well as a "real" one?
What does the value of £1 really mean?
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Just remember one thing - if you are using a coin that you are aware as a fake then in all probability you are committing a serious crime...
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Do banks do anything with bags of coins except recycle them back to shop keepers?
If I take a bag of £1 coins in and bank the proceeds, I'm pretty sure the bank doesn't track where that bag of coins has come from, much less check each individual coin for validity.
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Originally posted by Platypus View PostThe biggest losers are small shopkeepers who are not refunded by banks if they send fake coins from their tills.
Pah. Small shopkeepers don't bank pound coins, they just give them back as change.
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The biggest losers are small shopkeepers who are not refunded by banks if they send fake coins from their tills.
Pah. Small shopkeepers don't bank pound coins, they just give them back as change.
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Fake coins
The Bank of England has competition:
There are now so many fake £1 coins in circulation the Royal Mint could be forced to scrap all of the coins and reissue the entire denomination.
Record number of fake £1 coinsTags: None
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