I admit I was astonished by an article I read this morning on Yahoo! UK. Counterfeit money is something we hear about all the time here in the US, but they rarely, if ever, mention any of our coins being counterfeited. It’s always the paper money. Of course while GB may have 43 million £1 coins circulating the country, at least you don’t have the top counterfeiter in the world in your country, trying to pass off a bill that doesn’t exist. !!! The largest paper money denomination we have is $100. Clearly if you’re going to counterfeit anything, it should not be more than this amount – at least on one bill.
I also found it interesting from the article I read that there is the Trial of the Pyx wherein a selected jury of individuals meets to check the honesty of the Royal Mint to make sure that, at least on the government’s end, the public isn’t being cheated. Essentially, they make sure that newly minted coins conform to standards. This trial dates back to 1282.
I have checked my £1 which I still have from my 2010 trip and they are all legit. Phew!