Counterfeit Bills followup:greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
I stopped by Bank One last night to withdraw a little cash, while doing so, I asked the teller about the rumor of counterfeit bills. She said that it was TRUE and it's with the NEW BILLS that were just distributed. It seems that the criminals can now copy the watermarks that are on these new bills. The only way to tell the real currency from the fakes is:
1. Laser scanner to read the strip inside the bill.
2. Get a counterfeit detector pen from an office supply store. (Should only cost a few $$$.)
You're supposed to take the pen and mark on the bill. If the ink turns out GOLD, the dollar is legit. If the pen mark turns out black, you've got a counterfeit dollar.
Anyway, I thought you all would want to know this, especially if you do craft sales like my family does, of think you might be doing sales this coming year.
-- Deb M. (email@example.com), December 23, 1999
Oh! Thanks! That explains what I saw: this lady was checking bills with one of those pens -- she was selling homemade Christmas wreaths from her trunk out near the Meijer on 23. I couldn't figure out what she was writing on a new $20 and didn't feel like embarrassing myself.
-- (firstname.lastname@example.org), December 23, 1999.
Mmm, a 50 million pound ($80,000,000) counterfeit ring has just been cracked in the UK. The notes are so good that most bank staff can't identify them.
The technology is getting cheaper, and cash is being marginalised to the point where only the poor, criminals and wackos (like us) use it. You have to wonder how long promisary notes (oops, paper currency) will be allowed to last.
What does it say on USA banknotes anyway? Just FYI, here's the promises from two UK notes:
"Bank of England. I promise to pay the bearer on demand the sum of five pounds. London. For the Governor and Company of the Bank of England. (signed) G.E.A Kentfield. Chief Cashier"
"The Royal Bank of Scotland plc promise to pay the bearer on demand ten pounds sterling at their head office here in Edinburgh. By order of the board 28th January 1982. (signed)squiggle Chief Executive"
Cool, the Scottish one promises "ten pounds sterling". Does that mean I can exchange it for ten pound of (sterling) silver? Ha ha, not.
-- Servant (email@example.com), December 23, 1999.
At least U.S. currency is honest. It no longer promises to pay the bearer on demand. It simply states that the note is legal tender! Unfortunately there is no legislation on what the dollar can buy in terms of anything else, except maybe savings bonds and postage stamps.
-- Slobby Don (firstname.lastname@example.org), December 23, 1999.