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British coin that is impossible to replicate

Source : IANS
Last Updated: Fri, Mar 21, 2014 13:00 hrs

London: 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.




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