Last updated on May 28th, 2018 at 02:11 am
Last Updated on May 28, 2018 Posted by Colonial Acres Coins
Expert coin and currency collectors usually have no problem spotting fake pieces, but it seems that modern Chinese counterfeiters have set their sights on producing fake Canadian pre-Confederation tokens. A so-called 1852 Quebec Bank one-penny token and an 1843 Nova Scotia half penny were recently listed on eBay. The online marketplace has since pulled the listings down, but that still poses the question of how to recognize fake bills or coin pieces if you’re inexperienced and how to protect yourself from buying or accepting fake ones. (Visit Colonial Acres Coins for additional advice).
A Worldwide Problem
Counterfeit currency is an issue that affects businesses and collectors around the world in every industry. The hospitality industry in particular, is one of the most heavily affected by this problem thanks to numerous reports of fake money being used in hotels. Other reports show that hundreds of millions of counterfeit currency can be in circulation in any moment.
Similarly, coin and paper money collectors need to be on the lookout for fake pieces in order to prevent being scammed out of your money. This might be easy for experienced collectors who know what to look for, but those with less practice or who are new to the hobby may find themselves in trouble. To that end, here are some simple ways to protect yourself if you suspect the bill or coin you are interested in might be fake:
- Compare to matching bills
- Inspect the serial numbers
- Observe hair lines
- Check the portrait
- Check for sharp lines
Compare to Matching Bills
The simplest and easiest way to confirm that a note or coin you suspect of being counterfeited is in fact safe, is to pull out an equivalent bill from a previous transaction and compare the two. You should be able to spot any differences much more easily this way. Compared to simply visually observing a particular note, this is a much more effective way to find evidence of counterfeit activities.
Inspect the Serial Number
Checking the serial numbers on multiple bills is also a quick and easy way to examine their validity. Rather than attempting to replicate individual numbers, some counterfeiters will actually copy the same serial number on multiple bills to save time. There should NEVER be matching serial numbers on real bills. Should you find that 2 of the bills match – you are looking at fake notes.
Observe Hair Lines
There should be several hair-like lines scattered throughout the empty parts of every bill. These come from the material that is used to make authentic bills and are placed completely randomly. On the other hand, counterfeiters usually print these lines in an attempt to replicate them, which is very difficult to achieve. Merely printing these hair-like lines will often result in them looking unnatural and obvious. When looking at them closely, the lines should be sharp, crisp and small. The printer may blur these randomized lines, which allows you to spot them when you are specifically looking for errors in the way they appear.
Check the Portrait
The portrait is one of the most prominent features on every bill and coin. The thing to look out for when observing the portrait is that it typically stands out from the background – something that is difficult to pull off with normal printing equipment. As a result, you are definitely looking at a fake if you see a blurred contrast between the background and portrait.
Check for Sharp Lines
There should be no fuzzy edges or blurred lines on real bills as a result of the extremely high quality printing process. Should you come across any, that is often a sign you are dealing with counterfeit bills that were printed with lower quality counterfeit printers.
Need More Advice on How to Protect Yourself From Counterfeit Money? Consult Colonial Acres
Colonial Acres Coins is home to an expert and professional team of career numismatists and experts for all things related to currency. From a large collection of rare coins and paper money to a wealth of up-to-date and accurate information on industry standards, Colonial Acres is THE resource to consult for any counterfeit money queries you might have. It is also the ideal place to visit to stock up on rare and interesting collectible coins or bills. Head down to Colonial Acres today and enrich both your coin collection and knowledge on counterfeit money.