Another possible recent security feature is a polymer ring: http://news.coinupdate.com/germany-introduces-next-generatio...
It's super cool, but this coin is not used in general circulation and is more or less only a collectors item.
The new £1 Coin
71–80 of 421 posts
Re: The new £1 Coin
#72The 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...
It looks like the only problem is they've missed off the GoDaddy intermediate certificate (which presumably most users will have cached from other sites). Funny how all the more complicated things like ciphers are considered well-configured but something simple like this is missed, but I guess it's an easy mistake to make (if you're not checking ssllabs) depending on how the certificates have been supplied by the vendor.
Re: The new £1 Coin
#73Earlier quoted context omitted.
From all the big ForEx investors who will only learn about Brexit when they read in the papers that it has happened?
There is a strong emotional effect at play, so it's hard to say what will happen. I know someone currently buying a house, and the question of what will happen when Article 50 is invoked has been a persistent theme. E.g. in London, thousands of banking jobs may hang in the balance, with at least one bank having made it very clear internally that once Article 50 is invoked they will start planning which jobs to move -…
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Re: The new £1 Coin
#74Re: The new £1 Coin
#75> 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?
It would be quite amusing if this feature didn't actually exist and it was only an attempt to confuse potential counterfeiters.
-It would definitely be amusing, but given the current state of affairs - basically, the public is ignorant and vending machines are used to weed out the fakes - I don't think your average counterfeiter would care.
After all, your fakes don't need to be perfect; they just need to be good enough to enter the system without you getting caught every time.
(Which leads me to wonder - how do counterfeiters insert their fake coins in the monetary system? Where can you spend a lot of coin without arousing suspicion?)
-Coins sold at a discount to people who, perfectly aware they are fakes, use them for small purchases?
-Perhaps more likely - the customer is your friendly neighbourhood cigarette shop, which then mixes them in the change they give?
-Are some vending machines so bad at detecting fakes that you can use those (preferably ones with no security camera watching, which can be a challenge in the UK nowadays) to launder your fakes?
-Other?
Off to google I go. I really wonder how one can make a viable business model from getting fake coins into circulation.
I just looked over the £1 coins in my desk drawer (22!) - I found two dodgies. Perhaps I should bring them to the UK next time and ask in a bank - they may be just worn...
Re: The new £1 Coin
#76> "Approximately one in thirty £1 coins in circulation is a counterfeit." That took me completely by surprise. Is there really that much of a market in counterfeit coins? The profit margins just seem so modest relative to counterfeit bills.
>Is there really that much of a market in counterfeit coins?
Take the amount of £1 coins in circulation. Sum the value. Divide by 30. Equals the market in counterfeit coins.
From http://www.royalmint.com/discover/uk-coins/circulation-coin-...
£1 are 1,671.328 £m / 30 = 55.71 £m
The market in counterfeit coins is therefore over 55 million pounds. This is, however the cumulative, total value of the market and not per year.
Re: The new £1 Coin
#77Funnily, 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.
You'd think so, but every stage in the process so far has led to another drop, at least temporarily, even though they've all be widely trailed beforehand.
Re: The new £1 Coin
#78Re: The new £1 Coin
#79Is counterfeiting coins very lucrative?
From my other comment above:
We know 1 in 30 £1 coins are counterfeit.
Take the amount of £1 coins in circulation. Sum the value. Divide by 30. Equals the market in counterfeit coins.
From http://www.royalmint.com/discover/uk-coins/circulation-coin-... £1 are 1,671.328 £m / 30 = 55.71 £m
The market in counterfeit coins is therefore over 55 million pounds. This is, however the cumulative, total value of the market and not per year.
Re: The new £1 Coin
#80As 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!
Nah, the fakes are fairly obvious once you know what to look for. It doesn’t really matter so long as they circulate like other currency though. Money is weird.
You could call it an unofficial form of Quantitive Easing.