It takes common sense and a useful tool to spot fake money.
Currency counterfeiting is on the rise again, which could be very bad for both the economy of the country and the economy of the whole world. If you deal with money in any way, and who doesn't, learning more about currency, especially the new U.S. paper currency, can save you a lot of money and heartache. And you can buy some useful and cheap tools to help you tell the difference between real and fake bills.
The famous United States Secret Service is in charge of investigating cases of fake U.S. "obligations and securities," which include U.S. currency (paper money and coins), U.S. Treasury checks, Department of Agriculture food coupons, and U.S. postage stamps. The Secret Service works with state, local, and sometimes even foreign law enforcement agencies to catch fake moneymakers. They have set up a very helpful website with sections called "How to Detect Counterfeit Money" and "Know Your Money" to help people avoid losing money to fakes. In the meantime, here are some tips for spotting fakes in the newer paper money:
On U.S. bills, there is always a picture of someone, usually a president who has been dead for a long time, but not always. (Think of the $100 bill with Benjamin Franklin on it.) Most real money shows a "ghost" image of the president or other person on the bill when it is held up to the light. All U.S. paper money has a unique serial number. These serial numbers should be written with the same colour ink as the Treasury Seal and should be spaced out evenly. The signature of someone from the Treasury Department is also on real money. If a fake bill doesn't have the red and blue threads that the US Treasury puts in all of its bills, that's a big red flag. If you think a bill is fake, compare it to a real bill to see if there are any differences.
The counterfeit banknote detection marker is a great and easy-to-use tool that can be bought for about $5 by anyone. The ink in these markers or pens is made with iodine, and they can be used to find fake Swiss, Euro, and U.S. banknotes, among other things. Banknotes that are real are usually printed on cotton-based paper that doesn't have starches that react with iodine. We've all seen that when a pen is used to mark real bills, the mark is yellowish or clear, just like at the bank or grocery store.
Visit the website of the U.S. Bureau of Engraving and Printing to learn about other anti-counterfeiting features, cool new designs for U.S. currency, and just plain fun facts about money. Or, you can visit the website of the Financial Crimes Enforcement Network, which is part of the Treasury Department, to learn more about how to fight other financial crimes, such as funding terrorism and laundering money.
