Written question asked by Matthew Offord (Conservative) on Tuesday, 28 June 2011, in the House of Commons. It was due for an answer on Thursday, 30 June 2011. It was answered by Justine Greening (Conservative) on Monday, 4 July 2011 on behalf of the Treasury.

Money: Counterfeit Manufacturing

Question: To ask the Chancellor of the Exchequer what steps his Department is taking to reduce the number of counterfeit £1 coins in circulation.

Answer: The Royal Mint and the Treasury are working with banks, the Post Office, cash handling and sorting businesses, the police and the vending industry to remove counterfeit £1 coins from circulation before they reach the pockets of members of the public. Coin handling businesses, such as banks and the Post Office, handle over three billion £1 coins every year. They use high-speed, automated systems to process customer deposits and prepare coin for reissue. These automated systems are capable of detecting and withdrawing a significant number of counterfeit coins. All counterfeit coins detected from coin processing are sent to the Royal Mint for disposal. The Royal Mint is also working with other validator and coin sorting manufacturers to help improve the counterfeit detection rate.The Royal Mint holds regular briefings to educate the public and the coin handling industry on how to identify counterfeits, and has issued educational leaflets and posters.

Secondary information

Type: Written question
Reference: 63186; 530 c1088W
Session: 2010-12
Related items: Money: Counterfeit Manufacturing
Monday, 11 July 2011
Written questions
House of Commons
Subjects: Coinage Forgery
Link: View this Written question on www.publications.parliament.uk