The number of counterfeit euro coins removed from circulation in 2013 decreased by 4% compared to the year before, according to the European Commission. In 2013, national authorities in all eurozone countries withdrew a total of 175,900 fake € coins. According to the Commission, with 16.8b genuine € coins currently in circulation, the counterfeit ratio is just over 10 ppm.

However, the vast majority of coins, unlike banknotes, do not get returned from circulation and some 105b coins have been produced since the introduction of the euro. Further, coins are not routinely re-cycled - checked for authenticity and quality - like banknotes and so the likelihood of detecting coin counterfeits is less. Thus, it is difficult to know just how many coins are circulating and what the true counterfeit ratio is. This is compounded by the fact that, while the figure for coins in circulation refers to all denominations, only the counterfeit figures for the 3 highest denoms are considered. 

The €2 denom remains by far the coin most affected, representing 2 out of every 3 counterfeits detected.  The proportion of counterfeit 50 euro cents increased (16.7% of the total) and that of €1 coins decreased (15.6% of the total).

Source: Currency News, March 2014.