I hear there are counterfeit £2 Pound coins circulating around Europe, please confirm if these look suspicious. I found a listing of some 2 pound bi-metals and they lack lots of detail. These are rather new issues (I even see a 2011, not that old!), and Elizabeth's head is very faded. I won't mention the seller because this is actually someone I regularly deal with. Maybe the seller doesn't know about the fakes running around. http://www.coin-mech.co.uk/counterfeit-two-pound-coins.html
The fake £1 / £2 coins tend to feel wrong rather than look wrong. The only ones I have noticed are where the gold colouring is worn off to reveal some silver or where they just don't feel right - I guess when you use them on a regular basis - and I tend to always look at £1 and £2 coins as I hang on to the different varieties. I think that I have only had 3 or 4 fake £1 coins and fewer £2 (that I have picked up on). Are these £2 coins that collectable there? The batch don't look in great shape and presumably are all the same 'Standing on the shoulders of Giants' variety. There are lots of more interesting varieties:- http://www.royalmint.com/discover/uk-coins/coin-design-and-specifications/two-pound-coin That all said, we have a history of feeding duds into circulation - pretty much like the evasion coppers. Some are really collectable.
Thanks for the reply. These were listed at slightly below exchange value. Basically a currency kind of sale here (most of these types don't really have collectible values over face). I took a dare and purchased them, but I'll let the seller know about my concern and I would consider a return if I find out anything. I will maybe post a couple high quality pics of these when I receive them.
We have the new shape £1 coming in this year presumably to slow the £1 fake trade down. I seem to remember reading that 1 or 2 in every 10 £1 coins are duds. I certainly have not noticed anything like that though. £20 would buy me about $28 at the bank rate today - slightly fewer at a exchange bureaux.
A few years back when I had a ziploc filled with £1 pound coins, some of them were pretty rough, had very dinged/damaged edges, and loss of detail. It was about 20-25% of the coins that were in a questionable grade compared to the better ones. At the time I had a total face of £200 in £1 denomination. I had purchased them locally at a coin shop. I have a feeling there are so many of the fakes that they have flooded many cities and towns outside of Great Britain.
Our coins do get pretty banged up fairly quickly. Remember that £5 are less circulated than in previous years as fewer cash machines (ATMs) dispense them. Most transactions for £10 will give you coin change. They have lots of churn as they weigh your pockets down.
A more likely figure I read was 1% of pound coins are fakes. They buy so little that few people look at them. I know I don't.
I received the coins yesterday. 2 or 3 of them look like good examples, but the other 37 I have in the lot are really faded, and a few have odd discolored rings. Also a couple of them have flat reeding on the sides (this usually raises a red flag in world coins). I will try to get good pictures of my lot.
For what it's worth I've received £1 coins in change that made me wonder about their authenticity because of terribly mushy details. Well the coins were always accepted at the Co-Op so it hasn't been a problem.
They are just standard £2 Pound coins, with mixed dates. No commemoratives/special issues. They are currency coins pretty much. On ebay they don't sell higher than the exchange rate.
That's interesting. Were the weights accurate? (if you weighed them?) I'll try to weigh my coins individually and see if it matches.
