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 Replies: 11 / Views: 1,804 |
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Pillar of the Community
Germany
1064 Posts |
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Moderator
 Australia
16859 Posts |
Am I the only person with the little voice in their head screaming, "this thing looks way too much like an old pre-decimal threepence!"? Apparently, nobody at the Mint had that little voice. Or at least, no-one seems to have considered the possibility of people passing old threepences as pounds in change.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
 Germany
1064 Posts |
 To be honest, no, I don't think people will get them mixed up. I think the bimetallic nature of the coin will rule that out. The design is almost completely different, three pence and one pound are in different places, using different flowers and so on. However considering the modernity with Dent's designs, and then having a design that, yes, could have been designed in the 1930s, is where I might have an issue with this coin. I like the design, it could have been a lot worse. |
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Pillar of the Community
Sweden
1078 Posts |
Also, if I'm not mistaken, this coin will have a similar size to the current £1 coin. Not sure know where I've got that info.
The only thing I honestly think is missing on this coin is a holographic image, like on the current (?) £2 coin. Wonder if this will be added later. I don't know if I would consider it to be 'the most secure coin in the world' without this particular feature.
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Pillar of the Community
Canada
2805 Posts |
Lateral images are hard to fake but they wear out kind of quickly as well.
I think the microlettering, unconventional shape, alternating reeding, and bimetallic composition will be more than enough to make this one pretty secure.
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Pillar of the Community
United Kingdom
1324 Posts |
What's odd is that the new £2 will not include a hologram unlike the old one.
We're already seeing fake £2's (made of two metals) - so I think they will just move the problem.
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Valued Member
United Kingdom
188 Posts |
Biggest thing is, it's going to cost the economy £125-£200m to adapt all machines to the new coin (working estimates) plus who knows the cost of re-issuing 15 billion coins (less the net precious metals recovered), for the sake of £2m annually in avoided fake withdrawals ( Royal Mint estimate), less the displacement to faking £2 etc. And less aggro sometimes at coin machines, but more aggro with supermarket trolleys (odd shaped slots or a change to £2 size). What kind of return on investment is this, and think how many libraries, police stations etc could have been saved with the 'overspend'? |
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Pillar of the Community
United Kingdom
548 Posts |
Replacing the £1 coin is long overdue. I've been finding counterfeit versions in my change for several years now. It's just a pity we have to wait until 2017.
I'm ambivalent about the new design. It's a safe option, I suppose.
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Pillar of the Community
Germany
1064 Posts |
Yes it will cost money to change the machines. However the machine business knows this is a potential problem with their business, they take the hit when the hit has to be taken. Maybe it will create jobs and help lead us out of the recession a little bit. Every coin has two sides (excuse the pun).
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Pillar of the Community
Germany
1064 Posts |
Yes, it's the safe option. Nothing special, not bad, will do the job better than many other designs, perhaps there were better designs the mint wouldn't go for because they were a little more modern. Would be nice to see which designs go to the final stages (none of mine by the looks of it).
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Pillar of the Community
United States
4883 Posts |
It's not quite clear to me from the article if the existing £1 coins are to be withdrawn and/or demonetised.
Colligo ergo sum
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Pillar of the Community
United Kingdom
548 Posts |
Given the main reason for the re-design is the amount of forgeries in circulation I reckon the existing £1 coins will be withdrawn and replaced very quickly.
It will be years before they're demonetised but it won't take long for most of them to disappear from circulation.
I've heard they're minting 1.4 billion copies of the new design which pretty much confirms that they're going to replace the entire supply currently in circulation.
Edited by Demarco Bishopp
03/19/2015 12:52 pm
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Replies: 11 / Views: 1,804 |
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Posted 03/18/2015 09:56 am
