There has been a noticeable rise in the amount of counterfeit money that is in circulation in the US economy, according to reports from the US Secret Service. Many stores around the country have implemented a new policy allowing them to refuse any damaged bill note since it is more difficult to confirm its validity, to discourage the use of phoney money.
These banknotes, sometimes known as mutilated bills, are characterised by missing corners or faded tints from exposure to the weather.
These damaged bills are still valid money and can be taken to a bank even though they won’t be accepted at Dollar Tree, Target, or Walmart. There, a bank employee will be able to verify its authenticity and swap it for a better-looking bill worth the same amount. These kinds of circumstances may be handled by the Secret Service, but it is our responsibility as customers to exercise caution and double-check any changes before accepting them.
Experts estimate that simply in the United States, there is currently more than $70 million worth of counterfeit currency in circulation. Not only is the US monetary system in jeopardy, but the unwary common person stands to lose money as well.
How to identify fake bills?
It’s fair to be wary about whatever bill you now have in your wallet after hearing the news. Fortunately, every US dollar bill is meticulously crafted by the Bureau of Engraving and Printing (BEP) with authenticity in mind. We can carefully examine a few aspects to help you distinguish between a genuine and a fake dollar bill:
- What materials does it consist of? The peculiar cotton-linen blend on which the USD notes are printed gives them a different feel to the touch than Canadian polymer bill notes or Euro cotton blend bills. In comparison to the genuine thing, a banknote printed on a different type of paper will feel smoother and less tactile.
- What is the state of the watermark? A watermark that is observable from both sides will be present on legal bills. It may be a fake bill if it is missing or if it does not match the portrait exactly from both sides.
- Look for the thread: a vertical security thread is included in larger $5 bills. The letters USA must be legibly printed on this minuscule, vertical line that is visible in the light. Since it is difficult to duplicate, counterfeit notes—which are frequently printed on cleaned legitimate ones with lower value—typically lack this feature.
- Check the ink: This is to ensure it has colour-shifting capabilities, which allow the ink to change from copper to green depending on the angle at which light is applied to its surface.
- Are the serial numbers correct? Serial numbers on counterfeit bills typically have kerning problems. Real USD numbers will have laser-precision alienation and uniform spacing. It could be a phoney bill if you think the typeface is off or the numerals appear crooked.
- Zoom in: You may examine the microprinted features by using the macro lens on your phone or a traditional magnifying glass. Real banknotes can be identified by the small lettering that surrounds the borders. A questionable bill will be marked as counterfeit if the wording is illegible or appears to be nonsense.
We hope that this tutorial will help you recognise counterfeit money quickly. When given a chance, proceed with caution and examine it thoroughly before accepting it.
