British coin that is impossible to replicate

Image
IANS London
Last Updated : Mar 21 2014 | 5:43 PM IST

For all those determined forgers out there, here come tiny 'fingerprints' that would make currency notes, coins or credit cards impossible to replicate in near future.

A new security technology used in bank notes is being embedded into coins that is expected to help eradicate forgeries of all 1 pound coins.

The new 1 pound coin has been developed in Wales, said the Royal Mint.

The Royal Mint (RM) is the world's leading export mint - making coins and medals for nearly 60 countries.

"The technology that has been available in bank notes for 20 years but now we can actually use it in a coin," Andrew Mills, the Royal Mint's director of circulating coin, was quoted as saying.

The Royal Mint said fake 1 pound coins cost around 2m pounds a year, with an estimated 45 million forgeries in circulation.

"As the coin ages, the technology does not wear," Mills told BBC News.

The new coin is set to be introduced in 2017.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 21 2014 | 5:36 PM IST

Next Story