How To Overcome The New £1 Coin Counting Challenges
In light of the changes to the £1 coin in March 2017, many businesses face concerns about how the new 12-sided £1 coin will affect them moving forward. Whilst the old £1 coin will remain in circulation until October 2017, businesses are already starting to see some effects brought on by the recent currency changes.
Coin counting scales are used within small-scale businesses right up to large-scale global companies for accurately counting currency. Counting scales ensure standardisation and decrease miscalculations resulting from human error. More importantly, coin counting scales help to determine counterfeit coins by identifying differences in weight. It is therefore essential for businesses to own a coin counting machine that is fully capable of dealing with the new changes to the one pound coin.
How Will The New £1 Coin Affect Businesses?
Businesses that own a coin counting scale are already familiar with the benefits though convenience and the scales ability to detect counterfeit coins as well as stolen or otherwise missing coins. However, most coin counting scales on the market today come pre-configured by weight and cannot be changed manually due to initial hard-wiring. This effectively renders these machines un-useable for counting, as the new £1 coin is lighter than the old £1 coin and will not register within the counting machine.
Problems that could occur within retail stores or businesses without a re-configured counting scale:
- Firstly, time management would become a concern, the business would then have to dedicate more staff time to counting new currency outside usual working hours. This would result in further setbacks on the shop floor and staff would in turn become unhappy with the added job expectation.
- Secondly, in line with the first point, employment costs would increase as employers would either need to pay staff for the increased time needed to sort the coins into new and old or employ more staff to fill in for other tasks that would be left unfinished as a result.
- Finally, you could potentially lose profit through human counting errors as well as exposing the business to counterfeit currency in circulation.
Whilst these issues may seem troubling for individual businesses working to a tight financial budget, global retail chains can expect to see the expansion of these issues over all stores with a potentially huge financial impact.
The Overall Result?
Increased business expense through employment costs and replacement coin counting scales. Decreases in staff morale as tasks may require them to stay behind or work longer hours to combat this. Increased risk of counterfeit coin circulation within the business, as well as expected delays whilst a new coin counting scale is ordered, shipped and configured for use.
The CCEU Coin Counting Scale Overcomes Changing Currency Without Increased Cost!
Adam Equipment's CCEU coin counting scale is ideal for retail and commercial purposes, providing an easy way to overcome the challenges of the new £1 coin. The CCEU comes complete with token buttons that can be reassigned to a specific weight by the user. Businesses can register the weight of the old £1 coin into one of the token buttons, freeing up the dedicated £1 button for the new £1 coin. This provides a simple and cost effective way to keep using the CCEU coin counting scale without the need of a replacement.
For a step-by-step guide on how to reconfigure the CCEU for the new £1 coin, please see the denominations section within the CCEU manual.
Where can the CCEU be used?
It is essential that small businesses record income accurately in order to budget for expenditure, tax and staff wages. Coin counting scales can count currency fast without the need for manual labour, eliminating human counting errors. They can also be used to check that your till is showing the correct value and that no change is missing.
The CCEU are particularly useful within arcades and include token values that can be used for certain games or amusements. Coin weighing scales be used to detect counterfeit coins used in machines and ensure that these are taken out of circulation. They can also be used to keep an accurate record of how much money is placed inside certain machines e.g slot machines or 1p machines that would prove particularlly difficult to count manually.
When filling slot machines you may have a large amount of change that needs to be divided several ways, the CCEU can be used to count out a certain amount of coins for each machine e.g £200 worth of 2p coins, ensuring that you are using a regulated amount for all your machines that can be monitored and maintained at regular intevals.
CCEU Coin Counting Scale: Product Overview
The CCEU is a lightweight, portable coin counting scale that is used to count money or tokens accurately and efficiently. The scale possesses a 1g readability and comes complete with 9 preset values and 3 token values, allowing users to perform cash handling calculations with ease. The CCEU works with Pound Sterling and Euro currencies, as well as pre-defined token values. A memory total application allows the addition of values to provide a running total of all calculations, while the use of an RS-232 interface allows you to send or print your results via computer or printer.
The CCEU coin counting scale features a large stainless steel weighing area and 20kg weighing capacity that allows large amounts to be counted at the same time. Adjustable feet and colour coded keys allow for overall scale stability and quick recognition of frequently used buttons.
The CCEU includes many features including zero-tracking, and audible overload alarm for when capacity is exceeded. Our CCEU counting scale can be externally calibrated for verification with approved calibration weights.
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