New Pound Coin Will Increase Cost Of Parking Says Graham Hill

Friday, 2. May 2014

Whilst catching up on some of the stranger things to come out of the budget I noticed that the pound coin is about to change. Well when I say ‘about’ I mean in 2017 when it will be launched. I have seen the design and if you are as old as me you will immediately think of the thrupney piece.

Thinking of a change but unsure as to the best way to finance your car? Then you need a copy of my car finance book, Car Finance – A Simple Guide by Graham Hill. Click on the link below to buy the best car finance book on the market, available as a Kindle Book and Paper Back.

It’s the usual bronze colour but it has 12 sides and has been described by the Rotal Mint as the most secure in the world. However the new design comes at a cost as all vending machines will have to be modified at a cost. According to the British Parking Association, the cost to local authorities of the modification to their parking metres will be £50 million alone.

However, they also said that this will give the authorities the opportunity to upgrade their machines to also accept credit/debit cards at the same time. The move has been instigated by the Treasury because 4% of all £1 coins in circulation are counterfeit and this is already costing local authorities a fortune as banks refuse to accept them.

Personally I’m confused as I can’t see that making the £1 coin 12 sided makes it any less capable of being replicated. If there was some hidden ingredient in the metal that made it detectable I could understand it but it’s a lump of metal that has either been stamped out or forged (that’s metal forged not as in illegally forged – oh you know what I mean).

Royal Mint X Mirai Suenaga

Royal Mint X Mirai Suenaga (Photo credit: Danny Choo)

So I can’t see how it will stop the crooks? Obviously the Royal Mint knows more about these things than me! By Graham Hill

Enhanced by Zemanta
Share My Blogs With Others: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • MisterWong
  • Y!GG
  • Webnews
  • Digg
  • del.icio.us
  • StumbleUpon
  • Reddit
  • Alltagz
  • Ask
  • Bloglines
  • Facebook
  • YahooMyWeb
  • Google Bookmarks
  • LinkedIn
  • MySpace
  • TwitThis
  • Squidoo
  • MyShare
  • YahooBuzz
  • De.lirio.us
  • Wikio UK
  • Print
  • Socializer
  • blogmarks

Leave a Reply