"The pound won’t be round for much longer" is a pretty awful tagline, I'm not sure they realised what this sounds like...
It's a play on words. Of course they realised.
I know that, but I'm not sure they realised it's a BAD play on words
The new £1 Coin
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Re: The new £1 Coin
#62> Hidden high security feature – a high security feature is built into the coin to protect it from counterfeiting in the future. "security through obscurity" as a feature?
What's even the benefit of anti-counterfeiting measures that people don't know about? It doesn't matter if you fail a test that nobody knows to run.
Presumably some people will know about it, but who? If banks are the only places that can detect a fake, for example, does that gain you anything?
I suppose you can do something like "ah, this bank is getting a lot of fake coins, which means they're probably getting injected somewhere in the local area, maybe let's interview some people who've been cashing them in and see if there are any businesses they all frequent". Might be valuable.
Something I've missed?
Re: The new £1 Coin
#63As a UK citizen, it stuns me that one-in-thirty pound coins is a fake because a) i can't imagine how it's possibly worth it b) out of the thousands of pound coins i must have handled, I've never spotted a fake - they must be very good. Still, the new coin certainly looks nice!
Is there any insight into who might be making the fakes and with what tools?
They use coins from South Africa which are made from the same planchets. They put those into a hydraulic press with hardened steel dies.
Re: The new £1 Coin
#64Is counterfeiting coins very lucrative?
Hard to know, but what I do know is it tends to be done in bulk. You need someone with a job that handles a lot of cash e.g. a sandwich shop. Then they are given 1,000 coins to mix in with the float. What I don't know is the going rate for 1,000 fakes.
Bulk shipments of as many as 500,000 have been intercepted in the past, although that was further up the distribution chain than someone trying to actually pass them off in retail: http://www.bbc.co.uk/news/uk-england-tyne-33650317
Re: The new £1 Coin
#65From my understanding, all money is created as debt. Counterfeits would be an exception. What is the impact of this?
Only 3% of "money" is cash.
Re: The new £1 Coin
#66Just curious, has anyone any insight into what that "hidden high security feature is"?
I think it's some kind of radio signal transceiver, because I saw a video where they talk about detecting it at high speed from a small distance as coins pass through a system.
Which also tallies with the stylistic ripples emanating from the centre of the coin in the promotional video, when the 'hidden feature' is mentioned.
Re: The new £1 Coin
#67Funnily, the new "most secure" pound will be introduced one day before a pretty big event, Mrs. May's Article 50 invocation, which widely predicted to devalue the pound significantly. You might buy new pounds as "secure" coins, but you'll probably some percentage of their value the next day...
Article 50 has been priced into the markets for months, I’d be very surprised to see any significant movement.
Re: The new £1 Coin
#68Earlier quoted context omitted.
If it meant that, I'd expect it to be: "The pound won’t be a round for much longer" so the original sentence is sort of a pun. Maybe "around" is a local use of English.
Just like “until” is commonly shortened “till”, “around” is commonly shortened as “round”.
Thanks to the "you see what you expect to see" effect, it took me until someone pointed out the pun before I realized the word was "round" and not "around".
Re: The new £1 Coin
#69The website for the most secure coin in the world only gets a B rating from ssllabs: https://www.ssllabs.com/ssltest/analyze.html?d=www.thenewpou...
I just checked bitcoin.org as a comparision (A+): https://www.ssllabs.com/ssltest/analyze.html?d=bitcoin.org
If only bitcoin exchanges were actually secure...
Re: The new £1 Coin
#70Funnily, the new "most secure" pound will be introduced one day before a pretty big event, Mrs. May's Article 50 invocation, which widely predicted to devalue the pound significantly. You might buy new pounds as "secure" coins, but you'll probably some percentage of their value the next day...
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