Counterfeit Currency
 

Does anyone know anything about the counterfeit currency that's been circulating in and around TV? We were in a retail store today and the clerk said her mother had received 3 counterfeit $100's from her bank recently. When she got to her car, she noticed they were odd, then returned to the teller; she was told that because she had left the building before discovering it, they could not replace them with genuine currency. We heard from another retailer that local establishments had been stuck with 20's and 50's recently, as well.

I guess it would be wise to double-check your currency in front of the clerk or waitperson before leaving any establishment, even your banking institution.

I think some of what you were told might have been true and some might not. That is what I think.

HOw do the marking pens work??

They leave a specific color mark on genuine bills. The other way, if your eyesight is good enough hold the bill up to a light, your should see a watermark, and the imbedded strip with the demonization on it.

:agree: You're probably right, Gracie. On the off chance that even some of it is true, though, we're going to be cautious. We may even buy one of those pens. Can't hurt.

Also, I wouldn't say the bank was wrong to refuse to replace the bills...after all, a felon could switch the bills and the bank would have no way of knowing they were being scammed. It's just one more thing to be sensitive to, for our own protection.

Also, I would take the bills to the police and tell them where you got them. Did you get them from an ATM or inside the bank? If inside the bank, did you have to write a check for the cash, or some other thing that might have provided you with a receipt or proof of where you got the $?

I didn't receive any of the bills myself. A clerk in a Villages retail store told me her mother had been victimized. I know nothing more of the incident than that. By initiating the post, I was trying to determine if anyone else had heard of this in TV. That said, we've heard of similar occurrences - from more than one source - in the last 2 weeks or so.

Skeptical
 

Very perspicacious, Gracie.

I chased counterfeiters for 20 years. In 1965 I was the case agent on seizing the largest counterfeiting production plant in the United States that year.

First, it is very hard to believe that a bank teller gave out three counterfeit $100 bills to the same person. In my experience bank tellers are quite good at detecting counterfeit money. Also, it would be an amazing coincidence that a teller would be holding three counterfeit $100 bills that were bundled together in the teller drawer, and would give all three to the same person.

Further, it would be most unusual for a community, like The Villages, to experience an influx of counterfeit currency of three different denominations at the same time. Counterfeiters tend to have one denomination that they are passing in an area, and then they move on.

The most commonly counterfeited bill is the $20 denomination because they are less likely to be scrutinized than bills of higher denominations.

The Secret Service has a web site with various links about genuine and counterfeit money. Go there and check on link #11, How To Detect Counterfeit Money. Link #3 is also very interesting, since design features on genuine money changes over the years. Actually it is quite educational to review all of the links.

United States Secret Service: Know Your Money - Counterfeit Awareness

Good site. And nice to hear from an authority on the subject, Carl.

Change for a $20
 

It's really funny to see one Secret Service agent ask another for "Change for a $20."

Both the guy with the $20 and the guy making change closely scrutinize the bills they receive.

Er.............
 

Er......... that would be denomination, not demonization.

Older bills don't have the strip.

Carl - I always agree with you. However, depending upon one's politics, demonization might also be accurate. Especially if the poster avoids being politically correct. 😱

Could be.
 

Yeah. That occurred to me too.............

Raised Notes
 

People have also been known to produce what is called a "Raised Note."

For example, they cut one corner (Top left, top right, bottom left, bottom right) off of four genuine $20 bills and paste the corners onto a genuine $1 bill and pass it as a $20. These are really successfully passed.

Then, some folks don't bother with the cutting and pasting. The $10 note pictured below was actually passed as a $20!

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