The Metropolitan Police, which uncovered the haul, believes it is the biggest of its kind recorded in the UK.
A total of ?4.1 million in counterfeit coins was seized on Wednesday during raids in Enfield, north London, Hertfordshire and Essex.
Detectives said it was a "significant blow" to the crime gang behind the scam.
But officers said they believe some of the money produced may already be in circulation.
Three men, aged 52, 43 and 27, were arrested and are being held at a north London police station.
The three properties where the money was recovered are believed to be storage locations.
Officers have yet to identify where the coins were pressed.
Detective Inspector Bruce South, from the Met's projects team, said: "This seizure is a significant blow to the network behind it; individuals clearly intent on undermining the UK monetary system by producing counterfeit currency on an industrial scale.
"It is yet another example of the work this team is carrying out on a daily basis to tackle organised criminal networks."
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