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General Chat Thread, The new £1 coin in General; ...
  1. #16

    abillybob's Avatar
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    Quote Originally Posted by FN-GM View Post
    They do it in Australia. They don't have 1 & 2 cent coins. But they sell stuff at 99c so it gets rounded to $1 anyway. Why bother?
    Shopping scam? Shops will do that so your unconscious mind will think due to the lack of a 3rd zero it's cheaper than a whole £1.00 thus you're more likely to buy the item. It has been proven to work but cba to find the artical!

  2. #17

    korifugi's Avatar
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    Am I the only person thinking about the cost to produce them as well???

    I'm not saying each'll cost more than £1 to produce - but you have to wonder about the production costs.

  3. #18

    localzuk's Avatar
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    Quote Originally Posted by alexbillbridgnorth View Post
    It will cost us a fortune, all car parks machines will need to be changed, vending machines, shopping trolleys everything that takes a £1 of today will have to be changed and this means higher costs on those machines we use everyday as the new one has just cost a fortune to put in so they need to get their money back someway! It's stupid yet another government theme thought up to force people to spend more unnecessary money and put it back in the economy, and for what.... a new coin!
    It is to reduce counterfeiting! The pound coin is ridiculously copied all over the place. When I was at uni, we pretty much had to test every coin it was so rife.

    Quote Originally Posted by korifugi View Post
    Am I the only person thinking about the cost to produce them as well???
    Quote Originally Posted by korifugi View Post

    I'm not saying each'll cost more than £1 to produce - but you have to wonder about the production costs.


    The value to the economy well exceeds the cost to produce a coin.
    Last edited by localzuk; 19th March 2014 at 08:33 AM.

  4. #19

    abillybob's Avatar
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    In all my life I have never had a counterfeit coin, nor did I even know they existed until that post came up, suppose it could depend on where you live!?

  5. #20

    sparkeh's Avatar
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    Quote Originally Posted by alexbillbridgnorth View Post
    In all my life I have never had a counterfeit coin, nor did I even know they existed until that post came up, suppose it could depend on where you live!?
    I seriously, seriously doubt that given the amount in circulation.

    I dropped a 50p once that shattered. :S

  6. #21
    hardtailstar's Avatar
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    As long as I can buy stuff with it then im fine with it.

  7. #22

    GREED's Avatar
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    Quote Originally Posted by alexbillbridgnorth View Post
    Shopping scam? Shops will do that so your unconscious mind will think due to the lack of a 3rd zero it's cheaper than a whole £1.00 thus you're more likely to buy the item. It has been proven to work but cba to find the artical!
    It's not a scam it is marketing psychology. But these days we actually like even more when shops just say £1 and not £0.99

  8. #23

    korifugi's Avatar
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    Quote Originally Posted by localzuk View Post
    The value to the economy well exceeds the cost to produce a coin.
    Oh good - are they still on about getting rid of the copper coinage as well?

    I'm sure I've had some counterfeit coins in my time - but I've always found that the machines in Sainsburys don't seem to mind them.

  9. #24
    Sdrawkcab's Avatar
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    Quote Originally Posted by alexbillbridgnorth View Post
    In all my life I have never had a counterfeit coin, nor did I even know they existed until that post came up, suppose it could depend on where you live!?
    You definitely have, you probably just couldn't tell the difference. Three of the six people in my office had counterfeit pound coins when we checked just now. The easiest way to check is to look for off-centre writing around the edges/illegible writing around the edges.

  10. #25

    localzuk's Avatar
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    Quote Originally Posted by korifugi View Post
    Oh good - are they still on about getting rid of the copper coinage as well?

    I'm sure I've had some counterfeit coins in my time - but I've always found that the machines in Sainsburys don't seem to mind them.
    Pennies and Two pence pieces are copper plated steel anyway, not completely copper. The change away from bronze (97% copper) coins happened around 1992!

  11. #26

    abillybob's Avatar
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    Well as long as they accept the coin that's all that matters !

  12. #27

    korifugi's Avatar
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    Quote Originally Posted by localzuk View Post
    Pennies and Two pence pieces are copper plated steel anyway, not completely copper. The change away from bronze (97% copper) coins happened around 1992!
    I know they went to 'non-bronze', more about the fact they were talking about abolishing the denominations altogether.

  13. #28

    sonofsanta's Avatar
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    Easiest way to spot a counterfeit is the two faces not lining up, IME.

    Still, £45m of fake coins... can't we just knock that amount off the quantitative easing the Bank of England does? And we all know there are much bigger fish to fry than that in the corporate tax evasion column of the ledger.

    Design is not half bad, so long as the new coin is still chunky like the current quid, I like the weight and satisfaction of a pound coin!

  14. #29

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    How do people even make fake coins!?

  15. #30

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    How to spot fake £1 coins: Counterfeit One Pound Coins | The Royal Mint

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