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Author Topic: Fake bills ....what about fake coins?  (Read 2214 times)

Offline goofkid

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Fake bills ....what about fake coins?
« on: 14/07/2007 07:38:05 »
I have seen many fake $$ bills $$ ...and i wonder if someone has attempted to produce fake coins..or is that too hard to do? you can find a metal that weighs about the same.. and use a powerfull stamping machine to punch in the same design like a real coin. any comments??


 

paul.fr

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Fake bills ....what about fake coins?
« Reply #1 on: 14/07/2007 09:01:51 »
well, i don't know about the States but in the Uk we did used to get fake 1 coins in our change. they were pretty easy to detect.

i would guess there is not a big market for fake coins due to the low value of coinage. whereas with notes their face value can be high and so you could sell them or pass them off for greater profit.
 

another_someone

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Fake bills ....what about fake coins?
« Reply #2 on: 14/07/2007 13:31:31 »
I have seen many fake $$ bills $$ ...and i wonder if someone has attempted to produce fake coins..or is that too hard to do? you can find a metal that weighs about the same.. and use a powerfull stamping machine to punch in the same design like a real coin. any comments??

You need to look at more than just weight.  Colour is ofcourse important, but so are magnetic and electrical properties (some vending machines do look at magnetic or electrical properties).

As Paul suggested, it is no more difficult than fake notes, but just it is a lot of effort to go to for very little profit (and most of the ways of dispensing fake money can carry their own costs, and so would even further bite into your profits).

In any case, it is much easier these days to obtain money fraudulently in electronic form, in sums that would be unimaginable if used even in paper forms, let alone in coin form.

In the past, when coinage was cruder, and paper money did not exit, one common fraud was to shave a little bit off lots of coins (so passing on slightly smaller coins, but not so much that people would notice - often the shaving, rather than being mechanical, could be done with acids, and so was more evenly done); and use the metal so collected to mint new coins.  Modern coins, with their serrated rims, would be far more difficult to do that with without losing the serrations.  In any case, with modern coins, in most cases the metal value of the coin is significantly less than the face value of the coin (in order to keep this true, they have ever had to use cheaper metals, as well as reducing the size for newer coins as inflation eroded the value of the coin).
 

Offline kdlynn

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Fake bills ....what about fake coins?
« Reply #3 on: 14/07/2007 16:07:15 »
i was thinking a few months ago about something similar. in the states they have designed new, harder to counterfeit money. which is great... but they are not taking the old money out of circulation until it is old and falling apart anyway... so wouldn't a smart counterfeiter just continue making the old stuff..?
 

another_someone

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Fake bills ....what about fake coins?
« Reply #4 on: 14/07/2007 16:21:52 »
i was thinking a few months ago about something similar. in the states they have designed new, harder to counterfeit money. which is great... but they are not taking the old money out of circulation until it is old and falling apart anyway... so wouldn't a smart counterfeiter just continue making the old stuff..?

Indeed - but there is always the balance in cost between tolerating a certain amount of counterfeiting (which always goes on, and has a cost in devaluation of the money - although given that most money now moves electronically, the actual cost of counterfeited physical money is very much less), and the cost increasing security.

It is in any case very difficult to rapidly remove old money from circulation, since you will always have some old granny who has a stash of 30 year old notes lying under her mattress in an old shoe box, and who will be most upset if she goes to use that money and is promptly told that her life savings are no longer legal tender.
 

Offline kdlynn

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Fake bills ....what about fake coins?
« Reply #5 on: 15/07/2007 03:01:08 »
yes that's true. my great grandma had over twenty thousand dollars hidden in strange places around her house. it paid for a very nice nursing facility, where she still is. she doesn't know who any of us are though. very sad
 

The Naked Scientists Forum

Fake bills ....what about fake coins?
« Reply #5 on: 15/07/2007 03:01:08 »

 

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