Not isolated, it's been going on around the country. The store I work out had people queuing onto the main road for petrol and that's unprecedented.You guys don't know? Which means this story is just dramatizing some isolated circumstance? Interesting.
Le NewsThree pound coins in every 100 were found to be fake, according to official figures.
A Royal Mint sampling of coins has discovered that just over 3 per cent – about 44 million £1 coins – are counterfeits. The number of fake £1 coins has more than doubled in the past decade.
Any person using one is breaking the law, meaning that millions are unwittingly committing a crime.
Key signs that betray a fake include a poorly defined ribbed edge and a date and design on the reverse that do not match, experts say.
Lord Sassoon, the Commercial Secretary to the Treasury, disclosed that the number of counterfeit banknotes, mostly £20 notes, taken out of circulation last year was about 374,000.
Looks like we are possibly in for some trouble...
http://www.telegraph.co.uk/news/new.../Three-pound-coins-in-every-100-are-fake.html
Imagine the amount of money it would take to replace the 1£ coin if it ever gets too bad?
homeforsummerOkay, I accept there are problems with this, and someone is illegally profiting from it, but at the same time...
...is it not just really tempting to sort of... ignore it? 44 million counterfeit £1 coins is £44 million extra solvency, being used to buy products and services in the economy... I mean I'm probably missing something huge here but once it's left the hands of the crims surely it's beneficial to just turn a blind eye? I'm not saying that people should make counterfeit money in the first place but once it's out there do you really want to remove it?
heir warning came as new figures indicated there were £41 million fake £1 coins in Britain – one in every 36 in circulation.
Royal Mint figures released in September last year suggested that 2 per cent of the coins - around 30 million in total - were fakes, but in January that figure was increased to 2.5 per cent.
Possibly a new coin, maybe something similar in design to the £2 or Euro coins that were created for just this reason.^ I knew there has been a problem with forgeries for a while now, I think it just made the news because it seems to have broken the 3% mark.
So, what damage could this do if it gets worse? Will we be forced into producing a new coin?
ExigeEvanPossibly a new coin, maybe something similar in design to the £2 or Euro coins that were created for just this reason.
...is it not just really tempting to sort of... ignore it? 44 million counterfeit £1 coins is £44 million extra solvency, being used to buy products and services in the economy... I mean I'm probably missing something huge here but once it's left the hands of the crims surely it's beneficial to just turn a blind eye? I'm not saying that people should make counterfeit money in the first place but once it's out there do you really want to remove it?
^ I knew there has been a problem with forgeries for a while now, I think it just made the news because it seems to have broken the 3% mark.
So, what damage could this do if it gets worse? Will we be forced into producing a new coin?
Scottish notes are not legal tender, but they are legal currency. There's nothing wrong with accepting them in England or Wales.Illegal tender is used all the time in the UK. While it is permitted and accepted, Scottish or Northern Irish money is not legal tender outside of its respective country. That's a grey area that could be exploited. I don't know a bent Scottish £20 from Adam, so if I accidentally accept one, I'd be double screwed.
Bank of England websiteAre Scottish & Northern Irish notes legal tender?
In short ‘No’ these notes are not legal tender; only Bank of England notes are legal tender but only in England and Wales.
The term legal tender does not in itself govern the acceptability of banknotes in transactions. Whether or not notes have legal tender status, their acceptability as a means of payment is essentially a matter for agreement between the parties involved. Legal tender has a very narrow technical meaning in relation to the settlement of debt. If a debtor pays in legal tender the exact amount he owes under the terms of a contract, he has good defence in law if he is subsequently sued for non-payment of the debt. In ordinary everyday transactions, the term ‘legal tender’ has very little practical application.
There's nothing wrong with accepting them in England or Wales.
But you do get funny looks. And god forbid you're working in a shop and try to give out a Scottish note as change![]()
I'm guilty of that. I also do a full legit check on them, but then I do the same when I get £50 notes too.But you do get funny looks. And god forbid you're working in a shop and try to give out a Scottish note as change![]()
You get the odd one in supermarkets. It's usually a fairly well-off person who hasn't discovered the wonders of Chip+Pin.Fifties are the worst. Who gives them out? And then, what evil so-and-so used them to pay for a £3.99 meal?
Had them on Uni campusWhich reminds me. Little things that make you smile? Finding a cashpoint that gives out fivers.
Had them on Uni campus![]()
MatskiMonkI had an English £5 turned down at the Supermarket in Wick (Top of Scotland) before.
Anyone want to see if they are properly British?
http://www.ukcitizenshiptest.co.uk/
I got a rather rubbish 14/24 - that's a fail![]()