3.8) USA Paper Money: I heard there are a lot of counterfeitUS notes worldwide, is this true?
Description
This article is from the Paper Money Collecting FAQ, by Bruce Giese giesewpm@tiac.net with numerous contributions by others.
3.8) USA Paper Money: I heard there are a lot of counterfeitUS notes worldwide, is this true?
A great number of counterfeit hundred dollar bills are showing up
all over the world, but especially in Europe. This is one of the
driving forces for changing the US currency. Although the impact
of the counterfeit notes on the US economy is tiny, they undermine
the worldwide respect for the reliable greenback. Speculation is
that these notes are being printed in Iran and Syria
In addition to these, color copiers make it easy to make realistic
looking counterfeits. See the next section for information about
copying U.S. banknotes.
Counterfeit notes are illegal to own, sell, trade, give away or
any other form of disposal. They should be turned in to the Secret
Service. You can be jailed for collecting counterfeits.
The Secret Service reported that 209 million dollars in counterfeit
US money was seized in 1994. There was $110 million seized in
1993.
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