New £1 coin hologram

[34theletterbetweenB&D]

I received a pair of the new £1 coins in a retail transaction on Saturday, having seen them loaded into the till from a sealed plastic pack while queusing to pay (for my preferred Simmons baked goods).

 

Sunday lunchtime, we had a family game of spot the holograms. Results:

Over-seventies - whazzat? there's nothing there anywhere, let me get my magnifier, no, still nothing, etc. (It kept them busy for an hour to be positive about it, with no talk of medication.)

Rest of party - coin 1, the strangely squashed pound symbol and heavily seriffed 1 were seen by all, coin 2 occasional glimpses of the heavily seriffed 1, but only by the under thirties, no pound symbol ever in evidence to anyone.

 

I think that's a fail as a security device, at least for human detection.

 

Other experiences?

 

[BG John]

Don't care about holograms, but will they work in Aldi shopping trolleys, and Carmarthenshire Council car park ticket machines?

[melmerby]

I received a pair of the new £1 coins in a retail transaction on Saturday, having seen them loaded into the till from a sealed plastic pack while queusing to pay (for my preferred Simmons baked goods).

 

Sunday lunchtime, we had a family game of spot the holograms. Results:

Over-seventies - whazzat? there's nothing there anywhere, let me get my magnifier, no, still nothing, etc. (It kept them busy for an hour to be positive about it, with no talk of medication.)

Rest of party - coin 1, the strangely squashed pound symbol and heavily seriffed 1 were seen by all, coin 2 occasional glimpses of the heavily seriffed 1, but only by the under thirties, no pound symbol ever in evidence to anyone.

 

I think that's a fail as a security device, at least for human detection.

 

Other experiences?

I'm over 70 and have no problem seeing the hologram, so I would say it's more to do with eyesight than age. (one sample only)

 

Keith

[Phil Bullock]

Took me a while to clock it under Hm's cameo

 

Phil

[Horsetan]

Given the counterfeiters' past success at making the previous £1 coin (seems the North Koreans had a go at it too), no doubt they're already on the case to see if they can fake the new one.

[brigo]

I think the hologram is rather subtle, almost too subtle. The £ is a bit more obvious than the 1 but lighting seems to have an effect. I can't see it in bright sunlight but can in a duller room light, the sort of light where I suppose most transactions occur.

 

The coin I have is dated 2016, why 2016 for a coin not introduced until this year. On my coin the "micro" 2016 looks like 2010, even with a magnifying glass.

 

I notice the "nickel plated alloy" used for the centre is slightly magnetic, definitely not as strongly as the plated steel 5 and 10 p's. I wonder if this is one of the "hidden security features" they are meant to have.

 

Brian

[30801]

Given the counterfeiters' past success at making the previous £1 coin (seems the North Koreans had a go at it too), no doubt they're already on the case to see if they can fake the new one.

 

The bar for a successful counterfeit Pound is pretty low. I had one in my change that was entirely blank on one side. I didn't notice it 'till I tried to use it in the crisp machine.

It also fooled whoever it was that nicked it off my desk.

[Reorte]

I think the hologram is rather subtle, almost too subtle. The £ is a bit more obvious than the 1 but lighting seems to have an effect. I can't see it in bright sunlight but can in a duller room light, the sort of light where I suppose most transactions occur.

 

The coin I have is dated 2016, why 2016 for a coin not introduced until this year. On my coin the "micro" 2016 looks like 2010, even with a magnifying glass.

 

I notice the "nickel plated alloy" used for the centre is slightly magnetic, definitely not as strongly as the plated steel 5 and 10 p's. I wonder if this is one of the "hidden security features" they are meant to have.

I've got one, 2016 too. I guess they were minted last year ready for release. The hologram on it isn't all that visible - like you I found the pound rather easier to see than the one. On the one I've got it was made a little harder by a small dent in the bottom left corner of the hologram, so I wonder how long they'll remain visible at all in circulation.

[57xx]

The coin I have is dated 2016, why 2016 for a coin not introduced until this year. On my coin the "micro" 2016 looks like 2010, even with a magnifying glass. 

 

Reported over a year ago:

 

http://www.bbc.co.uk/newsround/35935007

[phil_sutters]

I have yet to see one of the new pounds. I have been told that the new fivers are being forged, except that the hologram had proved too difficult. It only shows one of the options 'five' or 'pounds'. I can't remember which. Of course that might have changed by now.

[Reorte]

I'm a little surprised how easy it is to accept these as pound coins. I'm not trying to make a judgment on them there, I mean that I've found my brain instinctively saying "that's a pound coin" without having to think about it or get used to them. Being as close to the same size (as close as can be considering they're not round) and the same outside colour might explain it.

[Kickstart]

Hi

 

We got one at the weekend for the first time. Neither of us can see any trace of the hologram on it.

 

It is a 2016 dated coin.

 

It also looks remarkably battered for a coin that had been in circulation for less than 10 days.

 

Suppose for irony it could be a fake

 

All the best

 

Katy

[Orange Cat]

The bar for a successful counterfeit Pound is pretty low. I had one in my change that was entirely blank on one side. I didn't notice it 'till I tried to use it in the crisp machine.

It also fooled whoever it was that nicked it off my desk.

 

Anyone with basic whitemetal casting equipment and a plating tank could counterfeit the old pound coin. Most of the fakes were pretty obvious, but most people don't look at them that carefully. No doubt for all their supposed 'advanced features' it will be easy enough to produce equally crude copies of the new ones once they become a familiar sight and nobody really looks at them any more.

[mjkerr]

I have yet to see one of the new pounds. I have been told that the new fivers are being forged, except that the hologram had proved too difficult. It only shows one of the options 'five' or 'pounds'. I can't remember which. Of course that might have changed by now.

Yes, I have seen two forged £5 notes already 

Handed them back, "Can I have a real £5 please" 

 

Rub your finger over the hologram, the forged one has an edge you can feel

Edited April 10, 2017 by mjkerr

[Spitfire2865]

Reported over a year ago:

 

http://www.bbc.co.uk/newsround/35935007

Reading the article, it almost sounds like the old coin will stop being valid, which is a bit odd.

[coachmann]

I dropped a half-crown on the platform when a bus conductor and it was dented. It must have been cast in whitemetal. It was reported as I had to make up any losses out of my own pocket. The outcome was some old geezer in Greenfield went to jail!

[Prometheus]

Oddly enough I have a fake half-crown. It's made from a softish lead-like alloy. Completely inappropriate for circulation you might think but apparently it did the rounds as I was given it [maybe 50 yrs ago] by a relative who worked in a bank.

 

Anyway, I've seen a new £1 coin and the £ and 1 images were quite visible. Are they really part of a hologram though or is it just the way in which they were originally engraved ?

 

Tony

[57xx]

Reading the article, it almost sounds like the old coin will stop being valid, which is a bit odd.

 

It will indeed. Come October this year, they will be worthless lumps of metal. It's not odd though, the whole point is to get rid of them from circulation as they reckon that 1 in 40 of the old coin is a counterfeit.

[57xx]

Are they really part of a hologram though or is it just the way in which they were originally engraved ?

 

It's not a hologram, it's just clever engraving that the Royal Mint are calling a "latent image".

[Spitfire2865]

It will indeed. Come October this year, they will be worthless lumps of metal. It's not odd though, the whole point is to get rid of them from circulation as they reckon that 1 in 40 of the old coin is a counterfeit.

I rather like the fact I could take one of my 1886 Silver Dollars to the store and buy a soda, simply because it says One Dollar on it. Id be stupid to do that due to its age and value, but the point still stands. Modern currency is only worth what the government says it is, and if they say this entire denomination is now worth nothing, that brings into doubt the future validity of any other denomination.

Yes this is wild exaggeration but the concept still stands. Id be cautious of any unforseen consequences this could bring as the billions of coins are weeded out over the next 6 months.

[Kickstart]

Hi

 

The coins will not become worthless, just not acceptable in general circulation. Can still be exchanged for a new one (assuming it is real).

 

First fake pound coin i was given many years ago looked very off. Looked a bit like painted lead. I tried to find something hard to press against it to see if it was soft, and used the end of a small stapler. The stapler went off and put a staple straight through it, which at least answered the question

 

All the best

 

Katy

[LBRJ]

I rather like the fact I could take one of my 1886 Silver Dollars to the store and buy a soda, simply because it says One Dollar on it. Id be stupid to do that due to its age and value, but the point still stands. Modern currency is only worth what the government says it is, and if they say this entire denomination is now worth nothing, that brings into doubt the future validity of any other denomination.

Yes this is wild exaggeration but the concept still stands. Id be cautious of any unforseen consequences this could bring as the billions of coins are weeded out over the next 6 months.

You can still use a Sovereign coin as legal tender where you feel the need to spend £1.05.

 

Indeed send me ten of them and Ill give you £15 in return

[34theletterbetweenB&D]

He has some ulterior motive - he need only have offered £10.50...

[exet1095]

You can still use a Sovereign coin as legal tender where you feel the need to spend £1.05.

 

Indeed send me ten of them and Ill give you £15 in return

A sovereign is a pound. A Guinea is 21 shillings, or £1.05 in decimal currency.

[57xx]

The coins will not become worthless, just not acceptable in general circulation. Can still be exchanged for a new one (assuming it is real).

 

 

I rather like the fact I could take one of my 1886 Silver Dollars to the store and buy a soda, simply because it says One Dollar on it. Id be stupid to do that due to its age and value, but the point still stands. Modern currency is only worth what the government says it is, and if they say this entire denomination is now worth nothing, that brings into doubt the future validity of any other denomination.

Yes this is wild exaggeration but the concept still stands. Id be cautious of any unforseen consequences this could bring as the billions of coins are weeded out over the next 6 months.

 

I wouldn't worry about unforeseen consequences, we have been through this already with the 5p, 10p and 50p coins, recently with the £5 note and are soon to have new polymer £10 and £20 notes, all of which themselves have been through various incarnations in the past. As Katy pointed out, they aren't strictly "worthless" as high street banks will still exchange them after October 15th, however they are under no legal obligation to do so and so could stop taking them at any time. The Bank of England will always honour the face value of any bank note it has issued but they do not exchange coins (the Royal Mint is the sole issuer of coins in the UK).