30 million dodgy pound coins…
Howard Lake | 22 September 2008 | Blogs
The Royal Mint says that there are now an estimated 30 million counterfeit £1 coins in circulation. According to the BBC, that means one in fifty pound coins is worthless.
What do you think the chances are that some of those will end up in charity collecting tins, especially the unattended kind on shop counters? It is illegal not only to make a counterfeit coin but also to use one.
So, any fake coins you might find in your next street collection are worthless. You need to hand them in to a bank for presentation to the Royal Mint.
How can you spot a fake? According to the BBC, “It all depends on the quality of the counterfeit, but key signs include a poorly defined ribbed edge, the wrong typeface and an indistinct design or bust of the Queen. A fake can also be slightly different in colour”.
http://news.bbc.co.uk/1/hi/magazine/7628930.stm
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.