Published On: Mon, Jul 31st, 2017

Find out how to spot a FAKE one pound coin – do YOU have one in your pockets?

It has been estimated that as many as three per cent of the spherical kilos are pretend representing £50million of faux coinage in circulation within the UK.

This is among the explanation why the Royal Mint are phasing the coin out of circulation and introducing the brand new 12 sided £1 coin.

The brand new cash are mentioned to be utterly counterfeit-proof, however should you spot a pretend outdated £1 coin, it’s unlawful to make use of it and you have to hand it in – nevertheless you received’t get actual money in change.

With the outdated cash nonetheless in circulation till October 15, how do you see if in case you have a pretend in your palms?

Royal Mint have defined find out how to spot a counterfeit:

As but, there usually are not believed to be any pretend new £1 cash in circulation.

Exchequer Secretary to the Treasury Andrew Jones mentioned: “It is a very, very safe coin. The Royal Mint estimate that that is probably the most safe coin on the earth for the time being they usually have their very own particular person and reasonably secret methodology of safety which is new on this coin.

“It’s important to keep one step forward of the counterfeiters however that’s precisely the place we’re proper now.”

In addition to searching for pretend one pound cash, it’s price making an attempt to spot rare one pound coins too, as they might be price a fortune.

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