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 The Royal Mint interfering with the free market: New £1 coin to be introduced to combat counterfeiting

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The Royal Mint interfering with the free market: New £1 coin to be introduced to combat counterfeiting Vide
PostSubject: The Royal Mint interfering with the free market: New £1 coin to be introduced to combat counterfeiting   The Royal Mint interfering with the free market: New £1 coin to be introduced to combat counterfeiting Icon_minitimeTue Mar 18, 2014 11:09 pm
A new £1 coin, designed to be the "most secure in the world", is set to be introduced in 2017.

The Royal Mint interfering with the free market: New £1 coin to be introduced to combat counterfeiting _73667988_73667987The Royal Mint interfering with the free market: New £1 coin to be introduced to combat counterfeiting _73668091_392f38c6-d55e-4ff3-89ad-a8f6b8f31139

It comes amid concerns about the 30-year old coin's vulnerability to counterfeiting, with an estimated 45 million forgeries in circulation.

The new coin is based on the design of the old 3d (three penny) piece, or threepenny bit, a 12-sided coin in circulation between 1937 and 1971.

A competition will be held to decide the image on one side of the coin.

The Royal Mint, which believes 3% of existing £1 coins are fake, said the move would increase "public confidence" in the UK's currency and reduce costs for banks and other businesses.

http://www.bbc.co.uk/news/uk-politics-26632863#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
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