LONDON -- Europe's vending machine operators are warning that arrangements for minting two of the new euro coins could lead to a flood of counterfeit coins that would undermine confidence in the European Union's new currency.
The opportunity for counterfeiters comes from the failure to set a standard for the electrical resistance of the new 1 and 2 coins. These coins will be popular for vending machines selling products such as soft drinks and cigarettes as well as ticket machines on public transport and parking meters.Variations in production methods in the EU's 15 mints means the coins are likely to have widely differing "electronic signatures" as far as the EU's 9 million vending machines are concerned. If the machines are programmed to accept such a variety of coins, it will be easier for counterfeiters to produce acceptable substitutes.
The alternative is to make the machines much more choosy about the coins they accept. The machine operators believe this would lead to frustration among users and increase concerns at the time of the changeover.
The problem is due to be discussed at a meeting between the European Vending Association (EVA) and the EU mint directors' committee next month. The machine operators believe standardization would not need further legislation, but action is needed with some countries beginning to mint coins.
"The industry wants something to happen quickly," said Catherine Piana of the EVA.
The problem is the second to emerge with the new coin set, which goes into circulation in the countries that have adopted the single currency in 2002.
Earlier this year, the machine operators and organizations representing Europe's 7.5 million blind and partially sighted people called for changes in the weight and feel of two low-denomination coins to make them easier to distinguish. New specifications were adopted this week for the 10-cent and 50- cent coins to meet these demands.