Property News · November 1, 2016

How much will the new £1 coin cost the UK?


Britain’s easily forged pound is getting a high-security update in March, but what does this mean for coin-operated lockers, launderettes and shopping trolleys? We add up the billBritain does need a new pound coin. The chunky faux-gold nugget that we have feels good in the hand, but since its launch in 1983 it has become easy to forge, and now about one in 40 of them is phoney. You’ve almost certainly spent some yourself. Though the bimetallic dodecagon we’re going to get lacks charm, it has micro-lettering, a latent image and a secret security feature, which ought to take care of forgery for good, if the pound’s plummeting value doesn’t get there first. It also looks somewhat like an old threepenny bit and somewhat like a euro, which ought to please both leavers and remainers.For most of us, the changeover next March will be a novelty soon absorbed, but for the vending industry it is big. In case you weren’t aware, there are two broad types of coin-operated machine. Virtually all modern ones use electronic sensors to “validate” a coin with as many as a hundred different checks, including speed past the sensor, diameter and metal content. Depending on the machine, some coins may then be passed to a change hopper, which could struggle with the new pound. Otherwise the job is essentially just a software update, installed in person by an engineer. Continue reading…

Source : theguardian.com
Read more…How much will the new £1 coin cost the UK?

You may also like...