Faulty Pound Coins in Circulation

The Royal Mint has admitted that some of the new £1 coins in circulation are faulty. The coin was brought into circulation last month in order to crack down on counterfeiting, as one in 40 of the previous £1 coins was thought to be fake. The Royal Mint is producing 1.5 billion new 12-sided £1 coins, which they've called "the most secure coin in the world".

"As you would expect, we have tight quality controls in place, however variances will always occur in a small number of coins, particularly in the striking process, due to the high volumes and speed of production," said the Royal Mint

This article was written by a staff member of TheStreet.