How to spot counterfeit money
There's no shortage of cash circulating throughout the economy -- about $824 billion, according to a University of Wisconsin study. But a good chunk of that cash (how much?) may not be on the up and up.
Counterfeit currency is a problem that just won't go away, despite the increased use of credit (which cards are the best?) and debit cards and e-payment technologies. Whether it's a street hustler passing off bogus $10 bills or professional counterfeiters dealing in stacks of $50 and $100 bills, fake currency has the full attention of the U.S. Treasury Department, the FBI and the Secret Service. (Find out the penalties for counterfeiting.)
But, as the Secret Service points out, the American public has a significant role to play in uncovering counterfeit currency. Small-business owners and retail cashiers should be trained to examine and identify phony bills -- but the truth is that anyone can learn to spot a piece of counterfeit cash.
Following are some tips on how to get a handle on bogus bills. They're relatively easy to learn and can turn you into a sharp-eyed spotter of counterfeit currency.
The Secret Service advises taking any questionable large bill and holding it up to bright lighting. If it's a good bill, you'll see a hologram on the face-up side of the bill. Ideally, both of the images should match up perfectly. Looking through the light should reveal a thin vertical strip that tells you more. In the photo here, a genuine $100 bill is held above a counterfeit one.
The U.S. Treasury offers this tip. Take any $10, $20 or $50 note and move it back and forth (ideally tilting it as you do). You should notice a number in the lower right-hand corner. If the bill's good, you should be able to see a shift in these colors.
An easy way to tell if a bill is authentic is to hold it up to ultraviolet light. Each denomination glows in its own color. Find out what they are:
$5 bills
$10 bills
$20 bills
$50 bills
$100 bills
If the bill doesn't appear as described above, you're holding a phony one.
An authentic bill has serial numbers that are cleanly spaced and printed in the same color ink as the Treasury Seal (photos). With a fake piece of currency, the numbers may not appear as evenly spaced and may have a color different from that of the Treasury Seal.
The U.S. Treasury has some advice if you encounter a phony bill:
1. Keep the bill in your possession but get a good description of who gave it to you and where. (How to describe a suspect.)
2. Write down the license or any other available identification number of the passer of the bill, if possible.
3. Contact your local police department or the Secret Service. (How to report fake money.)
4. Place the counterfeit bill in a safe packet or envelope.
5. Do not accuse or otherwise engage the bill passer. Leave that to the authorities.
If you own your own business or handle cash as part of your job, it's a smart move to buy an ultraviolet light (shop for one) or counterfeit detection devices (shop for one). Most business supply stores carry them; you can also buy them online.
Handling counterfeit cash isn't a game. If you suspect you possess a bad bill, take into account the person who gave it to you and call the authorities. Let the law enforcement professionals handle the rest.
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