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 International Coin & Currency Collecting
 Currently Circulating World Coins Forum
 Fake British Coins Could Cause Reissue
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beauanderos
1000+ Penny Miser Member


USA
2408 Posts

Posted - 07/29/2010 :  00:32:43  Show Profile Send beauanderos a Private Message
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Hoard now and hold on!

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uthminsta
1000+ Penny Miser Member



USA
1872 Posts

Posted - 07/29/2010 :  00:59:21  Show Profile Send uthminsta a Private Message
Yikes... I'm gonna go check all mine. Took a few clicks, but I found a short video about how to actually spot fakes:
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frugalcanuck
Penny Pincher Member



Canada
103 Posts

Posted - 08/11/2010 :  14:11:41  Show Profile Send frugalcanuck a Private Message
They are afraid of what people might think if there are fake coins as it might cause their value to go down. What about the countrie's debt? Shouldnt that lower the value?

One box of Nickels

11.65% .999 Ni
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Robarons
Penny Hoarding Member



USA
522 Posts

Posted - 08/11/2010 :  19:29:45  Show Profile Send Robarons a Private Message
Its interesting to read about this. I have read that Britain has had this problem for a long time, but now it has gotten worse. Its funny because countries with high value coins like British pound coins, 2 and 5 Swiss Franc Coins, and 500 Yen coins have and are exposed to counterfeiting. Wonder how people would react if that percent of quarters or Dollar bills were fake.

Faking coins here is unimaginable.Either our coins metal is more than face or not high enough face value to fake- .25 is the highest coin we use the most in transactions!

Robber Baron= Robarons
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fasTTcar
Penny Hoarding Member



Canada
573 Posts

Posted - 08/11/2010 :  19:39:14  Show Profile Send fasTTcar a Private Message
Your dollar bills are fake, but that is another story.

There are counterfeit $2 in Canada. I run across them at least once per week.

www.londongoldbuyer.com
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AGgressive Metal
Administrator



USA
1937 Posts

Posted - 08/11/2010 :  20:10:24  Show Profile Send AGgressive Metal a Private Message
Did anyone read on Coinflation about how the Fed is stockpiling over $1 billion worth of Presidential and Sacagewea dollars? There are several reasons they could be doing that I can think of;

-possible re-traction of the one dollar note in the future
-in hyperinflation, a dollar coin will be more like a quarter is today, so they will be used much more as current small denomination coins are called in or melted illegaly
-when they go to a new or revalued currency, the paper money will go obsolete, but the coins will remain valid, thus a stockpile of $1 coins will fill the gap for small transactions as the new paper money is printed and sent out.
-they are merely incompetent and made a bunch of coins that they can't pawn off on anyone
-the Fed does not want them to circulate because that is seniorage going to the Treasury instead of them


And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484
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uthminsta
1000+ Penny Miser Member



USA
1872 Posts

Posted - 08/11/2010 :  21:34:27  Show Profile Send uthminsta a Private Message
quote:
Originally posted by AGgressive Metal -they are merely incompetent

Whichever scenario it is, this is still true...

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AGgressive Metal
Administrator



USA
1937 Posts

Posted - 08/11/2010 :  21:55:25  Show Profile Send AGgressive Metal a Private Message
I'm going with incompetant, but I like to speculate.

And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484
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