Does Counterfeit Money Still Exist?

Does Counterfeit Money Still Exist?

Yes, counterfeit money has been exited all globally. Counterfeit money is currency produced without the government approval of a state or government, usually in a deliberate attempt to imitate that currency and defraud. Producing or using counterfeit money is a come-in fraud and is illegal. The counterfeit money trade is almost as old as the money itself: plated copies of Lydian coins have been found, which are believed to be the first Western coins. Before introducing paper currency, the most prevalent method of counterfeiting involved mixing base metals with pure gold or silver. Some of the ill effects of counterfeit money on society include a reduction in the value of real money; and a rise in prices due to more money circulating in the economy — an unauthorized artificial increase in the money supply; Decrease in acceptability of paper currency; And the loss when traders are not reimbursed for counterfeit money discovered by banks, even if it is confiscated. Traditionally, anti-counterfeiting measures have included fine details with embossed intaglio printing on banknotes, allowing non-experts to detect counterfeiting easily. On coins, milled or reed edges are used to show that no valuable metal has been scrapped. Read More


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