People living near what was a storage depot for the country’s largest ever coin counterfeiting operation have spoken out after the men responsible were jailed.

More than 1.6 million metal disks were found by police in a 40 ft shipping container parked at remote spot in Picks Hill, Waltham Abbey, with a car containing £30,000 worth of completed coins discovered nearby.

In 2010 four men were arrested after more than £160,000 worth of stolen farm equipment was recovered from a yard in the road, and residents nearby have long complained that the isolated spot attracts criminals, but is ignored by the police.

Tony Draper of Pick Hill said: "You've got lorries going down here and it's being continually used.

"You never see the police around here. I didn't know anything about it."

Another neighbour, who did not want to give his name, said: "About five years ago, they were knocking out coins at the end.

"It's disgusting. I've gone into a shop and they're told me I've got a forgery. You lose the money."

Police investigating the haul found other coins at addresses in Enfield and Hertfordshire with a face value of more than £4 million.

A police spokesman said: “We believe this was the tip of the iceberg for the well organised operation, whose fakes were of such high quality, they could easily be passed off as genuine coins.

“It is believed that some of the fake currency may well have already been passed on and be in circulation.”

Kevin Fisher, 53, of Rags Lane in Goffs Oak, was sentenced on Tuesday at Southwark Crown Court to five years in jail for possession of counterfeit currency, and seven years for possession of items to make counterfeit currency, to run concurrently.

Daniel Sullivan, 28, of Bancroft Chase in Hornchurch was sentenced to three years imprisonment.

Their co-conspirator, Mark Abbott, 44, of Cedars Park Drive in Edmonton pleaded guilty at an earlier trial and was sentenced to two years.

Speaking after the sentences were passed, Detective Inspector Bruce South of the Metropolitan Police said: "These three men are organised criminals who were intent on undermining the UK monetary system.

“There is nothing fake about the reality they must now face of life behind bars.

“We remain steadfast in our determination disrupt and tackle organised criminal networks".