Coins to be made of steel!

  wids001 20:39 25 Oct 2010

George Osborne has announced that to save money coins will now be minted in steel rather than copper.

click here

But they'll be 0.2mm smaller which will cost business millions in converting machines etc.

  Bingalau 21:18 25 Oct 2010

Then, when it has all changed over, we will be converting to the Euro no doubt.

New generations of kids will be able (unlike us) to fish coins out of inaccessible places using a magnet! Hip Hip Hooray!

  lotvic 22:20 25 Oct 2010

Darn it :( I've been saving offcuts of copper pipe ready to melt down and I'd nearly finished the mould.

  lotvic 22:22 25 Oct 2010

or should that be 'mold' (I think both spellings are acceptable)

  Wilham 22:34 25 Oct 2010

So called copper coins have been copper plated steel for years. I have just checked a one penny 1993 uk coin and confirmed it is magnetic. So what's new?

Damn, all those pennies and I never tried fishing them out!

"mold" just looks wrong because it is the American spelling! :-)

  interzone55 09:20 26 Oct 2010

As Wilham says, coppers have been mostly steel for quite a while, I often pull coins out of my pocket because they're stuck to the magnetic claps on my phone case.

The Royal Mint carefully balanced out the steel alloy so it was the same mass as the cupro-nickel of the older coins.

  recap 09:26 26 Oct 2010

I will be strange saying I only have steels left instead of coppers left.

  Quickbeam 09:39 26 Oct 2010

They've made no mention of the estimated cost to the vending industry click here that's not cheap, mind you, they'll make a VAT windfall boost out of it.

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