Royal Mint could scrap all pound coins

The video discusses the prevalence of counterfeit £1 coins in Britain, with one in every 36 coins being fake, amounting to £41 million in circulation. It explains how to identify fake coins by comparing design details and mentions the economic impact of counterfeits, including costs passed to consumers. The video highlights the challenge of maintaining trust in currency and the potential need for new coin issuance, despite Treasury assurances of confidence in the pound.

What could be the consequences of a loss of trust in the currency due to counterfeiting?

What actions are being taken by the Treasury regarding counterfeit coins?