Some new \u00a31 coins – introduced into circulation last month as the “most secure coin in the world” – may be defective, the Royal Mint has admitted.<\/p>\n
It said that a “small number of coins” were affected when they were struck at a rapid rate during production.<\/p>\n
The Royal Mint is striking 1.5 billion new 12-sided \u00a31 coins, introduced to help crack down on counterfeiting.<\/p>\n
Out of shape versions of the coin, considered collectors’ items, are appearing on internet auction sites.<\/p>\n
The\u00a0Sun newspaper\u00a0has spoken to a number of people reporting warped coins, although doubts have been raised about the cause of reported highly-damaged coins.<\/p>\n
A spokeswoman for the Royal Mint, which produces three million new \u00a31 coins a day at its headquarters in Llantrisant, South Wales, said: “The Royal Mint produces around five billion coins each year, and will be striking 1.5 billion new \u00a31 coins in total.<\/p>\n
“As you would expect, we have tight quality controls in place, however variances will always occur in a small number of coins, particularly in the striking process, due to the high volumes and speed of production.”<\/p>\n
The Mint has claimed the new \u00a31 is the “most secure coin in the world”, replacing the previous \u00a31 coin, of which about one in 40 are thought to be fake.<\/p>\n
Philip Munsell, director of Coin News magazine, told the BBC that only a tiny minority of these new coins would be affected, but that fact made them highly collectable.<\/p>\n
“The thing about the Royal Mint is that they are very, very good with their quality control, so therefore if you have something that has passed through without being quality checked then it is likely to be collectable, it is likely to therefore be worth more than one pound,” he said.<\/p>\n
He said that if the middle of the two-piece \u00a31 coin was missing, it would not get through the quality checks.<\/p>\n
The new coin has a string of anti-counterfeiting details, including material inside the coin itself which can be detected when electronically scanned by coin-counting or payment machines.<\/p>\n
Other\u00a0security measures\u00a0include an image that works like a hologram, and micro-sized lettering inside both rims.<\/p>\n
However, it is not the first currency launch to have hit problems in recent months.<\/p>\n
Vegans and some religious groups have voiced concerns about the new polymer \u00a35 note introduced in September last year, as it contains a small amount of tallow, which is derived from meat products.<\/p>\n
Meanwhile, the old \u00a31 coin remains as legal tender until 15 October this year, after which shops are under no obligation to accept it.<\/p>\n
source: www.bbc.co.uk<\/p>\n","protected":false},"excerpt":{"rendered":"
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