With an explosion in fake cash on the back market, including a 50 per cent rise in fake £1 coins and over £5 million of counterfeit tender seized last year, businesses are on high alert.
Make sure you don’t fall prey to this expensive fraud with our smart guide to phony pounds and dodgy twenties.
Cash type: £1 coin
In the last five years the number of fake £1 coins has doubled, hitting 37.5m recently. It’s claimed as many as one in forty pound coins in circulation are worthless, as crime gangs try to make a killing with their own shilling.
How to spot a fake: Fake pounds may be thinner, or lighter, than the real thing, while poor Queen Liz may look faded. The pattern on the back may be at an angle, while the lettering and cross on the coin’s edge may be faint, or the wrong size.
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