Counterfeit money is imitation currency produced without the legal sanction of the state or government. Producing or using counterfeit money is a form of fraud or forgery.
Counterfeiting is probably as old as money itself. Before the introduction of paper money, the most prevalent method of counterfeiting involved mixing base metals with pure gold or silver. A form of counterfeiting is the production of documents by legitimate printers in response to fraudulent instructions. During World War II, the Nazis forged British pounds and American dollars. Today some of the finest counterfeit banknotes are called Superdollars because of their high quality, and likeness to the real US dollar. There has been a considerable amount of counterfeiting of Euro banknotes and coins since the launch of the currency in 2002.
Some of the ill-effects that counterfeit money has on society are: a reduction in the value of real money; and increase in prices (inflation) due to more money getting circulated in the economy - an unauthorized artificial increase in the money supply; a decrease in the acceptability of paper money; and losses, when traders are not reimbursed for counterfeit money detected by banks, even if it is confiscated.
Traditionally, anti-counterfeiting measures involved including fine detail with raised intaglio printing on bills which allows non-experts to easily spot forgeries. On coins, milled or reeded (marked with parallel grooves) edges are used to show that none of the valuable metal has been scraped off.
Other articles related to "counterfeit money, money, counterfeit":
... The wife was accused of receiving counterfeit money and coded messages from three unidentified men thought to be spies, as well as failing to notify the authorities ... Kim, the wife, after they detained her on accusations of accepting counterfeit money ... The 500,000 won of counterfeit money and the coded message were not found, nor mentioned in any investigative document, and no report describing such an incident was ever submitted to ...
... A subject related to that of counterfeiting is that of money art, which is art that incorporates currency designs or themes ... While a counterfeit is made with deceptive intent, money art is not - however, the law may or may not differentiate between the two ...
... The Hardy boys learn a case of counterfeit money is somehow intertwined with a national security case their dad is working on ... their friend Chet Morton has been tricked when asked to make change for what turned out to be a counterfeit twenty dollar bill, something that the police later ... supply yard he is working at for the summer has become the latest to receive counterfeit money used to pay for lumber by a boy matching the description of Ken Blake ...
Famous quotes containing the words money and/or counterfeit:
“The way I see it, God gave me the body, so I intend to use it. Its a big ego trip.... You know, you look around a bar, you pick out a guy and you say, thats the one: Im going to take all of his money tonight.”
—Teresa Beaty (b. c. 1975)
“I can counterfeit the deep tragedian,
Speak, and look back, and pry on every side,
Tremble and start at wagging of a straw,
Intending deep suspicion. Ghastly looks
Are at my service like enforced smiles,
And both are ready in their offices
At any time to grace my stratagems.”
—William Shakespeare (15641616)