A jobless man yesterday admitted possessing nearly 4,000 counterfeit $10 coins manufactured in a Tsuen Wan factory which had an average monthly production of up to 10,000 coins. Hon Kwong-wing, 56, pleaded guilty in the Court of First Instance to two charges of having custody or control of 3,988 counterfeit coins and intending to pass or tender them as genuine. Prosecutor Fanny Wong Kam-hing said the counterfeiting operation was set up by Hon's co-accused, Wong Po-wah, who recruited But Wing-fai, 56, as the production technician. The factory began operating in August 2001. Ms Wong said the cost of producing a counterfeit $10 coin was about $2.80 and the counterfeiting operation could produce 8,000 to 10,000 pieces a month. The operation had produced about 180,000 fake coins until it was shut down by the police in December 2003, she said. No plea was taken from Wong yesterday. Deputy Judge Derek Pang Wai-cheong adjourned the case until January 7.