The Government has announced plans to introduce a new pound coin to combat counterfeiting, but will the new coin cause more problems that it solves? We spoke to a selection of retailers about whether counterfeit coins are an issue for them.
Stephen Carr
Nisa Denny
It’s not something I pay attention to but when you read the statistics it’s incredible how many coins they reckon are fake. I’ve never looked for it though. You take coins in and you give them out in change, that’s it. The only time I ever notice anything is if there’s a euro coin in the till at the end of the day. When that happens you just keep it for your next holiday! It’s not going to change much for us but vending businesses will be in for a high cost – thankfully our coffee machine is pay at the till.
Donna Morgan
Best-one at Brownlies
A new coin won’t make a difference to our business. The fact that it’s been introduced to combat counterfeiting is a good thing, but it’s more notes that are a concern for us. I don’t think I’ve ever noticed a fake pound coin in the till, but staff are well aware that notes could be counterfeit. That’s why we’ve got a pen to check them. They tend to come in bursts, but we’ve got a good network in the village so if someone does get a fake note we’ll let the other shops know.
Saleem Sadiq
Spar Renfrew
I can’t say it’s something I pay too much attention too, though if the new coin stops counterfeit coins being in circulation then that’s a good thing. I’m sure we’ve had counterfeit coins come through our till and back out again without anyone knowing. We focus our attention more on larger denominations, like £10 or £20 notes. If we get one of them we keep hold of it. Occasionally there is a spate of them – so when we get word of something like that we make sure staff are being extra vigilant.
Des Barr
Sinclair Barr newsagents
I think fake pound coins exist in reasonable quantities – let’s put it this way, if I took them all out of circulation I’d be sitting with a lot of fake money in front of me. However they enter the chain, I’m sure people don’t realise they’re spending them. It’s a bit like someone handing over a foreign coin, they don’t do it deliberately. Usually we’ll notice foreign coins, and when we do we hand them over to the Accord Hospice, which sells them to people looking for currency.
