Three men have been convicted of forging £1 coins. The London Police Detective Inspector even got all quippy about the sentencing ("These three men are organised criminals who were intent on undermining the UK monetary system. There is nothing fake about the reality they must now face of life behind bars." -- yes, yes, very clever DI South) but what fascinates me about the story is that it can somehow be profitable to forge £1 coins.
I got passed a fake pound shortly after I first moved to the UK, almost ten years go; it was a foil-wrapped plastic slug. Not realizing it was fake, I tried to buy something with it at a corner shop and the cashier pressed it edge-on on his counter and the foil split open, revealing the green plastic disc inside.
From the sound of this article, these fakes were solid metal, which, I think, would make them more expensive than the fake I got. When you add the costs of the materials, the wages for the manufacturing process, warehousing, the discount for counterfeit cash, etc, it's hard to believe that this was worth anyone's while.
On the other hand, it's probably easier to go on counterfeiting when you're passing very small denominations as most people (me included) won't bother going to the cops over a mere pound; and it's much harder to remember where a given pound coin came from than a £20 note.
The court heard Fisher, of Rags Lane in Goffs Oak, Hertfordshire, Sullivan, of Bancroft Chase in Hornchurch, east London, and Abbott were arrested during an undercover police operation in Essex last May.
Police found a storage container with 1.6 million metal discs inside and fake coins equivalent to £20,000.
Fake coins equivalent to a further £30,000 were found in a nearby car.
Three men jailed over 'largest' fake £1 coin plot [BBC]
(Image: Yet another forged pound coin, a Creative Commons Attribution (2.0) image from pahudson's photostream)
The Isis River, which flows through the English university city of Oxford, has inspired many place names that include “Isis,” including “Isis Close.”
The agency says that the angle of the sunlight that strikes its tracks creates glare that blinds the CCTVs that train-drivers use to ensure that the platform is clear before pulling out of the station.
Jonathan Mathew is one of the bankers at Barclays who participated in the Libor rigging fraud, which cost people all over the world trillions of dollars in higher payments on mortgages, government bonds, student loans, and other assets totalling $350 trillion.
If you want to add some real firepower to your programming repertoire, learn Java–one of the most adaptable, widely-used programming platforms around. You can easily do that with this Ultimate Java bundle, now just $69 in the Boing Boing Store.Across 14 lectures and 117 hours of content, the educators at online academy eduCBA will walk you through […]
Every company wants to harness the power of social media, but few understand how to make that happen. Be one of those select few with this Social Media Marketing Course & Certification package, now just $29 in the Boing Boing Store.Over 12 modules of course material, you’ll learn what it takes to increase a brand’s […]
If you’ve got a killer app idea, but don’t have the technical expertise to pull it off, get a crash course in all things app development with the Comprehensive Android Development Bundle, now over 90% off in the Boing Boing Store. Across 83 hours of training, you’ll learn to develop for the world’s most popular mobile OS, mastering […]