Fake pound coins

[Finn235]

I was sorting through some european coins that one of my coworkers gave me, and my gut instinct told me that the 1996 1 pound coin just wasn't right. The relief seems too shallow and poorly struck, almost like a minor grease strike-through. The main give-away to me was the edge lettering, though. The letters are different sizes, sloppily stamped into the coin, and they clearly are not of any particular font--each of the three E's in DECUS ET TUTAMEN is radically different from one another.

 

Since I am 99% sure this is fake, I don't really need it for my collection. My question is, what's the best thing to do with it? I live in the USA and don't particularly plan on visiting the UK anytime soon. Is the official UK policy on counterfeit coins "We'll take that and give you a real pound for your spending pleasures" or "We'll take that. Serves you right for taking a fake pound"? Fortunately, I didn't pay for it, so it wouldn't be any terrible loss if I just threw it in the garbage.

[grivna1726]

Is the official UK policy on counterfeit coins "We'll take that and give you a real pound for your spending pleasures" or "We'll take that. Serves you right for taking a fake pound"?

I'd be very surprised if there is a government anywhere in the world that is willing to exchange genuine coins or currency for counterfeit money.

 

I have heard that there are many counterfeit pound coins circulating in the UK.

 

I doubt that anyone other than collectors ever bother to examine such coins. To make the point, if you're in the US, when was the last time that you closely examined a dollar bill that you received in change?

[Scottishmoney]

I have read varying accounts from the British press, but there is some suggestion that up to 1-2% of Pound coins in circulation are fakes. An awful lot of them are cast and plated fakes that are not very good. But there are some die struck examples that cost a bit more to make, but are much more convincing.

 

And do you think the US $1 coins are not faked?

 

Here is an example of a fake Sackie buck, not faked in the USA, but likely in Colombia for sale into circles in Ecuador, the only country in the world where USA $1 coins actually circulate, and the $1 bill doesn't.

 

[ScottO]

its more then 1-2% i have a fair few on omni, keep it, it might be worth something in a few hundred years..

there are even fake 20p's over here