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If you are suspicious of an area or a store being a counterfeit dumping point then tip off the Secret Service. They'll be all over it in a hot minute and youll most likely get a reward. Counterfeiting is still a huge industry and its you and I that get screwed when the music stops and youre the one holding useless paper.
I've had a 5 dollar bill passed to me that was counterfeit. Pissed me off but fortunately that's the only case I know of.
I would have gathered the neighbors and discussed it with the store owner. It is in their best interest to make an effort to stop the flow of counterfeit money; or else they risk people not shopping there. You as a group have identified your source; the store. Its time for the store to identify their source; and so on.
I know I stopped shopping there, but I moved shortly after that. I have no idea what others did. Really, there's no incentive for the owner to stop when there's nothing legally you can do.
If you are suspicious of an area or a store being a counterfeit dumping point then tip off the Secret Service. They'll be all over it in a hot minute and youll most likely get a reward. Counterfeiting is still a huge industry and its you and I that get screwed when the music stops and youre the one holding useless paper.
I called the police (this was years ago) and so did many of my neighbors. Their response was basically if we can't prove the store is making the counterfeit money, there's nothing they can do. Basically, it was our responsibility to dispose of the fakes. I went in person and a few of my neighbors called. I was very shocked, they didn't even ask for the money. What was to stop me, or anyone, from just passing it on? As you get no reimbursement even if you can prove (as I once did for my job) who gave it to you. I actually gave it to the officer and he said "Why would I want that?!" I don't know if the SS is any better as since that time, I've switch to only credit cards (for the rewards) and checks.
Another problem with counterfeiting imo is I think it affects more people than you think. Everyone is like "never happened to me". I was given a lot of good counterfeit bills. My friend who owns a store has received bills that when marked look real, but when put under UV show they're fake. I think it's easy for someone to be passed a fake and spend it (either not getting check or passing the test) and the process starts over and over and over again until someone gets caught with the fake. The process sort of reminds me of a blood diamond. In that if there were stricter laws, you'd probably catch the people actually making it. Since the police do nothing, it gets passed and passed until the person who ends up with isn't going to know where it came from.
We used to get them at one theatre regularly. You can use a starch pen or a magnet to suss them out. Real money has iron in the ink and is attracted to magnets. Fake doesn't.
We used to get them at one theatre regularly. You can use a starch pen or a magnet to suss them out. Real money has iron in the ink and is attracted to magnets. Fake doesn't.
I just tried that with a very powerful magnet and a brand new, multi-colored, hologram C-note. Didn't work.
EDIT -- OK, it worked at one corner where the green ink is. The rest of it doesn't appear to be magnetic. Learned something though. Thanks!
It is the worst part. I kept getting counterfeit money (bills and coins) from a store by where I used to live. I noticed my neighbors saying the same thing. We couldn't prove the store was a part of it/making it, the authorities don't care. They're too busy looking for the people making it. How are you going to find them when you ignore the hotspots for dumping it?
I highly doubt you 'kept getting' counterfeit coins.
While the counterfeiting of coins has been known to happen, it is extremely rare because it's considerably more difficult to counterfeit coinage than to counterfeit currency, because there is very little margin in it, and because it is much more difficult to pass in cost-effective quantities.
As for counterfeit currency, I'm sure everyone has gotten some at some point - most simply don't realize it.
I've had a 5 dollar bill passed to me that was counterfeit. Pissed me off but fortunately that's the only case I know of.
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I think we have some paranoia here. For example, the above, I highly doubt that. Think about it - why would someone counterfeit a $5 bill? Unless it's a really poor copy, it would cost more to counterfeit a small denomination then it would to use a real bill. Copy technology is getting better, but it's still hard to duplicate the type of material, the built in threads, the watermarks, etc. You can have the local teenager scan a $5 bill, but printing it is another matter - the printer cannot pick up the details and, more importantly, is the use of material. Money doesn't use paper, it's part cloth. Amatuer jobs like this you can detect without even looking at it, run your hands over it, the texture will be wrong. Someone mentioned counterfeit coins? hahaha....what?
Professional counterfeiters will duplicate large denomination bills then use them for low purchase items as stores in order to receive real cash in change. So they don't end up in circulation as people usually don't get a $100 bill back in change, and they usually get detected at banks. As mentioned, most stores have a simply pen and UV device where they can use it on, let's say, $20 denominations and larger.
If you received a counterfeit bill, contact your local secret service office (yup, the same guys who protect the president), who are responsible for enforcing these laws as part of there treasury department duties. It's a serious federal crime and has serious economic impact if prevalent, foreign governments can use this as a form of economic attack. Local police probably don't care, they are too busy giving out speeding tickets.
We had a news story here a bit ago about counterfeit $5 bills--I thought they'd go for higher bills also. One store checker said they are required to check the $20's but not the $5's, so maybe that's why.
As for counterfeiting small amounts, I have some counterfeit Lincoln pennies. Not even old rare ones. I don't have a clue why someone would want to do that, or what profit there would be.
As for counterfeiting small amounts, I have some counterfeit Lincoln pennies. Not even old rare ones. I don't have a clue why someone would want to do that, or what profit there would be.
I've heard of what they call "slugs", faceless coins of the same weight to use in subways (where they simply replace tokens) or vending machines. But actual counterfeit coins? Very strange. I have some imitation pieces of old roman coins, but those are obvious and I think even stamped as not real. Counterfeit coins ironically might be worth something as collector items, they would be so rare.
I've read about the counterfeit $5 bills printed by 15 year olds and used to buy junk food and magazines, they would be obvious to spot as fakes and might work for 1 or 2 brain-dead 7/11 employees before they are busted.
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I don't know if the SS is any better as since that time, I've switch to only credit cards (for the rewards) and checks.
