Counterfeiting new bills?

ddink

I've always wondered something. So far this is the second time we've seen bills redesigned to make them harder to counterfeit. That's great. But the older, easier to counterfeit bills are still legal tender. I don't see how we've done anything at all to stop counterfeiting--all the crooks will just make the older, easier to make bills that are STILL legal tender. What's the point of making harder to copy money when you don't demonitize the easier-to-copy money?

MrDan

Good point

Stuart

A good question, however I suppose that they are removing the older notes from circulation as they pass through the Federal Reserve Banks. Any other thoughts?

mintluster

I think they figure that the old bills will dry up completely within a coupl of years so the new strategy is more geared toward future counterfeiting. But by then, they will have figured out the new ones. So what's the point? I don't know.

airplanenut

Way to blow my cover

JadeRareCoin

Way to blow my cover

.....12 minutes and 32 seconds later, there's a firm knock on Airplanenut's door............

MrDan

<< <i>Way to blow my cover >>



I figured it was you!!

FrattLaw

Way to go Jeremy -- a nice man in a dark suit from the Secret Service will probably be knocking on your door tomorrow.

2 things not to joke about -- killing the President and counterfeiting Uncle Sam's money!

Michael

08HALA20

I work at a gas station and a couple of weeks ago 2 18-20 year olds were caught passing new twentys.
They made them on thier computer and used regular paper. Fooled many stores in town. Not for long though.
While talking with the Detective he told me it is real easy now with new printers and scanners. Also some will take the old $1 bills and dip them (no pun intended) to remove the ink and reprint them as $20 bills.

It is a strange world???

Not too hard to believe when you see what some do to sell a coin at a high price.

Rookie Joe

coppercoins

The new notes are counterfeited too - just not as accurately, but with enough accuracy to fool a Wal Mart clerk. And no, I'm not the one doing it. I just know that a lot have been passed because I have a friend who works at a local bank and he says he sees quite a few rather poorly executed bum 20s, and most of them come from big retail chains' drawer count.

Barry

It would raise a red flag if old bills look brand new. Wouldn't it?

MacCoin

LanLord

What are ya, some kinda wise guy? Nyuk, nyuk.

nwcs

Considering the lifetime of a note, the older ones will be out circulation before much longer. No anti-counterfeiting device can help an unobservant or uninformed person.

ddink

<< <i>It would raise a red flag if old bills look brand new. Wouldn't it? >>



Yes, but many counterfeiters tumble the bills to make them look older. Plus, even if the old-style bills stop circulating, as long as they are still legal tender, a counterfeiter can still pass them. Look at 90% silver coins: they no longer circulate, but if you do find one in change, it's still legal tender and will buy the same as a modern coin

Bottom line: unless older notes are demonitized, there is no point in making new notes that are harder to counterfeit.

nwcs

They are still legal tender but come under greater scrutiny when seen. In 10 years when people forget what the old style looks like, they'll look at it harder. You know, like when someone tries to spend a SBA. They shouldn't be demonitized because there are still plenty out there. It's a risk. But a small one. Besides, the real value of the currency is in people's willingness to accept it and confidence in it. As long as counterfeits remain as proportionately little as they are, things are fine. In any case, it's impossible to create a counterfeit proof currency or coin. You just have to make it not worth their while.