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Primary member
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Offord, Matthew
Type
House
Session
Year
Department
Member
Primary member
More
Offord, Matthew (1)
Answering member
Legislative stage
Legislation
Subject
Publisher
To ask the Chancellor of the Exchequer what steps his Department is taking to reduce the number of counterfeit £1 coins in circulation.
To ask the Chancellor of the Exchequer what steps his Department is taking to reduce the number of counterfeit £1 coins in circulation.
Asked by
Matthew Offord
(Conservative)
Answered by
Justine Greening
(Conservative)
Answering body
Treasury
Type
Written questions
Status
Answered
Tabled on
28 June 2011
For answer on
30 June 2011
Answered on
4 July 2011
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.
Subjects
Coinage; Forgery
Date
4 July 2011
Reference
63186; 530 c1088W
House
House of Commons