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 Replies: 12 / Views: 2,016 |
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Pillar of the Community
United Kingdom
2887 Posts |
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Pillar of the Community
United Kingdom
2217 Posts |
Forget The Royal Mint - collectors say there are at least twice that many of them out there! (or so I read somewhere..). I keep getting them in change, so I try and use them in the store that gave them to me ;) (the grocer's haha..) |
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Pillar of the Community
United States
5318 Posts |
Pretty amazing...would you say the banks dropped the ball regarding removing these from circulation? Is the weight exactly the same? I suppose if enough are dumped on the market, nobody wants to be left holding the bag.  If you have one of these fakes, I might like getting one for my collection. Edited by KurtS
09/23/2008 1:58 pm
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Pillar of the Community
United Kingdom
2217 Posts |
Another thing about these fakes that I've just thought of, is that the brassy outer surface is actually quite thin so you sometimes notice the steel underneath when the coin has been scratched. So that answers another question - of what they are made of - steel is a very cheap metal!...
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Pillar of the Community
United States
5318 Posts |
Steel...they're magnetic? That should be easy to filter. |
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Pillar of the Community
United Kingdom
2217 Posts |
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Bedrock of the Community
United States
12437 Posts |
Coin counting machines should be able to filter via electrical signature. In the US, the publicly available Coinstar machines will reject silver and steel US coins, foreign coins, and any type of slug. |
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Pillar of the Community
United States
5318 Posts |
sorry...perhaps I'm assuming something where I have no clue, particularly if the fakes are non-magnetic. Are they?
I'm just "wondering out-loud" if bank counting machines filter out magnetic coins, such as our CoinStar counters do here?
The sorting mechanics are pretty easy to do. This thread got me wondering if our $1 coins are being copied.
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Pillar of the Community
United Kingdom
2217 Posts |
1. We're not in the U.S. - 2. Again, where do we put the filter to find these things before they are used and found in change?
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Pillar of the Community
United States
5318 Posts |
1. Right  2. I thought many countries use mechanical counters (merchants, banks, etc.), and will try to sort out magnetic and slugs of wrong weights. If that doesn't apply here...no biggie. I'm not trying to put anyone on the spot--I'm really wondering how banks protect themselves. It applies here as well, as some 30 million fake $1 coins have originated in S.America. Edited by KurtS
09/23/2008 6:16 pm
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Pillar of the Community
United Kingdom
2217 Posts |
I have no idea really... :( but that doesn't take them out of circulation until they get to the banks anyway so there isn't that much that can be done but to be aware of them I guess.. |
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Pillar of the Community
Australia
2830 Posts |
G'day,
so, are they magnetic or not ?
Peter
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Pillar of the Community
United Kingdom
2217 Posts |
Is it of infinite importance?  |
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Replies: 12 / Views: 2,016 |
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Posted 09/23/2008 1:53 pm
