Really Good Fake Pound Coins

[david@naughtyvend]

We've noticed an increase in the use of "nuggets" a.k.a. counterfeit pound coins over the last five years, with a spike around 2008 nationally which has thankfully faded away but during the last six months there has been an increase again... with even better fakes.

These are so good that NRI-G13 coin mechs with the sensitivity set to high are validating them... the coins are very bright so at first we thought they were just new coins which had been issued, the weight is wrong when you measure them in bulk. Has anyone else observed similar?

[Venderbase]

I remove the obvious, old style fake coins and I've never had a bag rejected by the bank. Maybe i'm lucky.

It reminds me of a local news report last year when our local Toll Tunnel issued a warning that is was going to try and catch users that are using fake pound coins as they where getting hundreds of thousands of them.

However, the percentage they where getting compared to their turnover was way below the percentage the bank of england said where currently in circulation.

[Venderbase]

Up here, they dont have the equipment to manufacture good fakes.

This is the best they can manage

penny.jpg

[Coin Operated Group]

We've noticed an increase in the use of "nuggets" a.k.a. counterfeit pound coins over the last five years, with a spike around 2008 nationally which has thankfully faded away but during the last six months there has been an increase again... with even better fakes.

These are so good that NRI-G13 coin mechs with the sensitivity set to high are validating them... the coins are very bright so at first we thought they were just new coins which had been issued, the weight is wrong when you measure them in bulk. Has anyone else observed similar?

Dont you just bag em & bank em.

[david@naughtyvend]

We've noticed an increase in the use of "nuggets" a.k.a. counterfeit pound coins over the last five years, with a spike around 2008 nationally which has thankfully faded away but during the last six months there has been an increase again... with even better fakes.

These are so good that NRI-G13 coin mechs with the sensitivity set to high are validating them... the coins are very bright so at first we thought they were just new coins which had been issued, the weight is wrong when you measure them in bulk. Has anyone else observed similar?

Dont you just bag em & bank em.

...on grounds of incrimination I have no recollection of that event, m'laud.

[BigVend]

We pay in our cash through the HSBC electronic coin counters, which rejects fake coins.

We get about 1 reject per thousand on average, which is 0.1%, way below the Bank oF England quoted rate of 3% which I always thought was high.

[Coin Operated Group]

We pay in our cash through the HSBC electronic coin counters, which rejects fake coins.

We get about 1 reject per thousand on average, which is 0.1%, way below the Bank oF England quoted rate of 3% which I always thought was high.

Hows that work with HSBC do you have to bag it first then they check???

[BigVend]

Hows that work with HSBC do you have to bag it first then they check???

No, if you pay in via plastic money bags over the counter anywhere they never check to my knowledge, as they don't have any equipment to do so. Same as every branch.

What we use are the very large coin paying in machines that are in a small number of the newer HSBC branches (there are similar machines in some Barclays as well). You just pour big bags of assorted coins into it and it counts them and credits the total to your bank account. It also checks every coin and rejects fakes and tokens. It's great for paying in bigger amounts, as we often pay in £2-3k in one go and it takes a few minutes to do it, whereas counting that much into bags of 20 would be a real pain. They also have a note machine that takes notes if we get too many change-ups.

[Coin Operated Group]

Hows that work with HSBC do you have to bag it first then they check???

No, if you pay in via plastic money bags over the counter anywhere they never check to my knowledge, as they don't have any equipment to do so. Same as every branch.

What we use are the very large coin paying in machines that are in a small number of the newer HSBC branches (there are similar machines in some Barclays as well). You just pour big bags of assorted coins into it and it counts them and credits the total to your bank account. It also checks every coin and rejects fakes and tokens. It's great for paying in bigger amounts, as we often pay in £2-3k in one go and it takes a few minutes to do it, whereas counting that much into bags of 20 would be a real pain. They also have a note machine that takes notes if we get too many change-ups.

Do they charge much for it?

[BigVend]

Do they charge much for it?

Free to use.

The problem is that very very few HSBC branches have them and there's no way of finding out which branches do other than actually going in and checking.

They are fitting them to new and re-furbished branches, as they are increasingly trying to automate their services, obviously to save on staff costs etc.

My local branch even has machines that dispenses foreign notes (only USD and Euros I think), so they can do away with that till.