Posts Tagged ‘Counterfeit Money’

Counterfeit $10,000 Bill In The News – Really?

Friday, October 22nd, 2010

Counterfeit BillI like to try and keep up on the news and daily events as much as possible. Yesterday, while I was driving home in my car, I heard a story about a lady who tried to use a counterfeit bill at a bank. Being that I work for a company that sells counterfeit bill detectors, I turned up the radio. At firs I thought, “Oh great, another person trying to cash in a fake $50 or $100.” I wasn’t even close.

This morning I hopped online and found an article written by Nick Carbone over at Time about the situation. Apparently this lady was trying to use a fake 10,000 at a bank. As you might imagine, the bank workers got very suspicious.

The article, written by Nick Carbone, goes on to say:

Michael Gallagher, risk management director at Enterprise Bank, said the bill hasn’t been printed since 1934 and he believes there’s only 300 in circulation, so they were fairly sure they weren’t seeing a piece of history come into their bank earlier this week but a crime. The bill was sent along to the Federal Reserve for examination, and the woman was sent out of the bank 10,000 fake dollars poorer.

I found conflicting reports about the $10,000 bill. Many sources say it was printed from 1928 to 1946. Either way, it’s been out of print for a while.

You can read the entire Time article here.

I don’t know why I got such a kick out of reading that article. It amazes me some of the dumb stuff some people try to pull. Did this lady really think she was going to get away with trying to pass off a $10,000 bill, at a bank of all places?

So here’s a piece of trivia. Who’s face is on the 10,000 bill? It’s Salmon P. Chase. Wikipedia has this to say about Salmon P. Chase:

Salmon Portland Chase (January 13, 1808 – May 7, 1873) was an American politician and jurist who served as U.S. Senator from Ohio and the 23rd Governor of Ohio; as U.S. Treasury Secretary under President Abraham Lincoln; and as Chief Justice of the United States.

It also ends up that Salmon P. Chase is the guy that helped get “In God We Trust” put on U.S. money.

I have to admit that our bill counters may not be built to verify a 10,000 bill. Chances are very slim that you’ll every have to worry about it.

Now you know a little more about $10,000 and Salmon P. Chase. As I mentioned earlier, we sell counterfeit bill detectors here at ABC Office. If you have time, you should stop by and check them out. You can find our counterfeit bill detectors here.

Counterfeit money continues to be a growing problem.

Friday, June 30th, 2006

Counterfeit Money DetectorsWe recently brought out several counterfeit money detectors to see how effective they were against fake currency. We tested out money from local businesses and banks. We also threw in a few sheets of blank paper.

The counterfeit detectors did their job and were able to decipher real from fake. This is especially hard with today’s technology.

Copy machines, high-resolution printers, scanners and more can make it easy to copy money. Criminals can use just about any personal computer to try and copy bills. Many bills appear legitimate and may be difficult to verify with the naked eye. Counterfeit bill detectors use a variety of methods to verify money.

The three most common types of counterfeit detection methods are UV (ultraviolet), WM (watermark) and MG (magnetic). UV detectors have a dark light that makes built-in features in tangible currency light up and appear yellowish green. Watermark detectors have a built-in light that allows users to see watermarks such as a face. MG detectors detect magnetic ink that is in U.S. currency. When a bill is slid over the MG detector, a light or other indicator will let the user know if it is authentic or fake.

The pen detector is another widely used device. It uses a chemical solution that uses coloration to determine bill authenticity. Magnifying glasses are also a great way to pick out minute details that a printer can’t easily reproduce.

Many criminals are bleaching five-dollar bills and printing 50 and 100-dollar denominations on the paper. This makes the bill feel real and will even pass through some counterfeit detectors. It is recommended to use a detector that implements several detection methods or a combination of several counterfeit detectors.

You can see all our counterfeit detectors by going here.

Counterfeit Money Continues to Be a Problem As the U.S. Government Changes Bills. Are You Safe?

Monday, November 8th, 2004

Counterfeit Money DetectorCounterfeit money is a growing problem that continues to grow with technology. Color copiers, printers,
scanners and high-tech software make counterfeiting money easier than ever before. Criminals can use a personal computer to quickly create a counterfeit bill that can pass by the naked eye as legal tender. This growing problem is costing businesses around the world thousands of dollars in lost revenue

Although many counterfeit bills may pass the naked-eye check, many additional features are put into a bill for easy authentication. Many counterfeit detectors are now available to help thwart counterfeiting efforts using several methods to detect fake bills.

These are some of the methods currently available:

Currency created by a color copier or printer produces an image that rests on the surface of paper that can
easily be seen when UV light is placed over it. Tiny particles of toner outside the image can also be easily seen with a UV light. Bill counters and counterfeit detectors have a UV light built into the machine. If a counterfeit bill is run through the machine, an alarm or light will alert you that the banknote is counterfeit.

U.S. banknotes are made with magnetic components. Several foreign currencies and travelers’ checks are also made with magnetic components. MG detectors are capable of detecting the magnetic components in money. When a detector does not find the presence of the magnetic components, an alarm or light will sound letting you know the money is counterfeit.

U.S. and other foreign currencies are printed with special marks and symbols that cannot be seen without the use of a magnifier. By using a magnifier, and knowing what to look for, you can see if the bill is counterfeit. This process takes longer and is not built into automatic bill counters or counterfeit detectors.

Watermarks are marks that are specially embossed into U.S. and other foreign currencies. These watermarks can be easily seen when held up to fluorescent light. Watermarks are hard to duplicate and when fake, are easily detectable.

Some U.S. and foreign currencies have a metallic, color-changing emblem stamped into the banknote. An example is the U.S $100 bill that has a stamp in the lower right hand corner that will change from black to green. This is easily detected by the naked eye. Light reflection stamps are not detected by automatic bill counters and counterfeit detectors.

To learn more about the history of counterfeit money, please take a look at our counterfeit prevention guide.

Many bill counters are also built with counterfeit detection in them. One of the more popular bill counters on the market is the ABC V-10. This bill counter is compact, portable and can count up to 600 bills a
minute.

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