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8 Ways To Spot Counterfeit Money

Thursday, May 23, 2013 - 7:39 AM
From MarketWatch:
Most of the counterfeit notes that change hands are computer-generated, making them easily distinguishable from real bills. “The process utilized to manufacture genuine notes is so detailed that there are very few systems out there that can match that level of detail in the printing,” Ed Lowery, a special agent with the Secret Service, told 24/7 Wall St.

Bars and nightclubs are easy places to exchange counterfeit money since they are not well lighted...

These are eight ways to spot counterfeit money.
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The US Secret Service has excellent "Know Your Money" information to help detect counterfeit currency and guard against forgery loss.  Among the topics covered:  what to do if you suspect a note is counterfeit.

Ken, it would be interesting to know if any of your readers have received counterfeit money and what was the outcome. 
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pearlbrownpearlbrown1,438 posts since
Nov 2, 2010
Rep Points: 6,272
1. Thursday, May 23, 2013 - 1:24 PM
I read the article but what about just normal "aging" of the bill?  I have received some bills from the bank or stores which are so old that they may look faded etc. but yet not be counterfeit.  If you have really old bills, I would think it would be very difficult to distinquish real from counterfeit.  I have noticed many times a store clerk running that pen over a large denomination bill to see if it turns yellow.   Does anyone know if there is a time limit to how long we can keep bills in our possession especiallly the larger denominations?  Thanks.
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paoli2paoli21,372 posts since
Aug 10, 2011
Rep Points: 6,011
2. Thursday, May 23, 2013 - 2:10 PM
There have been a number of posts on this site on the topic of counterfeit money:

Counterfeit $5 and $10 bills flooding the market warns that the last one to receive a counterfeit bill is the one who will lose whatever amount of money they thought they had with that bill.

Chase Bank counterfeit bill lincident describes what happened when a man apparently received a counterfeit $100 bill at his credit union, and then deposited the $100 bill at Chase Bank. 

Bamboozled:  Cash withdrawal leads to counterfeit snafu discussed an instance in which a bank customer withdrew cash that included a counterfeit bill and the bank refused to take responsibility.  It shows why one should avoid $100 bills, and Ken recommended doing bank-to-bank transfers electronically and being extra careful when accepting $100 bills if there are no other alternatives.

Risks of using $100 dollar bills included a comment from a Clark Howard show noting that he never carries anything larger than a $20 bill. Why? Because bills larger than that have a much higher chance of being counterfeit.  It also includes a reminder that once someone accepts a counterfeit bill, not only does the liability become theirs immediately, but it also becomes a felony to pass it on to anyone else.


 
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pearlbrownpearlbrown1,438 posts since
Nov 2, 2010
Rep Points: 6,272
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