Currency Counterfeiting Documents 3. History of Counterfeiting One of the oldest crimes known During...
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![Page 1: Currency Counterfeiting Documents 3. History of Counterfeiting One of the oldest crimes known During US Civil War, 1/3 to 1/2 of all US currency was counterfeit.](https://reader036.fdocuments.in/reader036/viewer/2022062519/56649ece5503460f94bdbc89/html5/thumbnails/1.jpg)
Currency CounterfeitingCurrency Counterfeiting
Documents 3Documents 3
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History of CounterfeitingHistory of Counterfeiting• One of the oldest crimes known• During US Civil War, 1/3 to 1/2 of all US
currency was counterfeit • Over 1600 state banks printed money
• US adopted national currency in 1862• US Secret Service established in July 1865
to stop counterfeiting of new currency• Secret Service is part of the Treasury Dept.• Exclusive jurisdiction over all currency
investigations
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History of CounterfeitingHistory of Counterfeiting• Counterfeiting prevention still “top job”
of Secret Service• Modern problem is huge due to
sophisticated reproduction techniques• US dollar remains the most
counterfeited currency in the world
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History of CounterfeitingHistory of Counterfeiting
• Modern counterfeiting has moved from “traditional” to computerized• Hi-res office printers and copiers• Custom paper
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US Paper CurrencyUS Paper Currency
• Not truly “paper”• No wood pulp is contained in it
• 25% cotton, 75% linen• Technically “cloth” rather than “paper”• It is illegal in the US to manufacture any
other goods from the same combinations of materials
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Production ProcessProduction Process• Known as Intaglio Printing
• Gives US currency its distinctive look
• Master engraver carves the pattern into steel plates
• Ink lies only in the grooves of the plates but are then subjected to 7,500-15,000 psi pressure
• ID number and Seal are added later
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US Paper CurrencyUS Paper Currency• Normal life expectancy of $1 bill is
approx. 18 months• Higher denominations usually last longer
• Approx. 4 billion in circulation• Will only be replaced if clearly more
than ½ of the original bill remains
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US Paper CurrencyUS Paper Currency• 3 types
• Federal Reserve NoteFederal Reserve Note• 99% of all currency• Only variety being printed today• ID by green Treasury seal and serial number
• United States NoteUnited States Note• Last issued in 1966• ID by red Treasury seal and serial number
• Silver CertificateSilver Certificate• Last issued in 1963• ID by blue Treasury seal and serial number
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US Paper CurrencyUS Paper Currency
A genuine US silver certificate
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US Paper CurrencyUS Paper Currency
• Denominations of $500, $1,000, $5,000, $10,000 no longer printed and being phased out
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US Currency Design FeaturesUS Currency Design Features
• Variations are actually common from year to year• Different Secretary of
Treasury or Treasurer of United States
• Occasionally portrait differences
• Treasury Seal
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US Currency Design FeaturesUS Currency Design Features• Motto
• Printed from 1963
• Federal Reserve Seal• “Universal seal” since
1996• Actual bank denoted
prior
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US Currency Design FeaturesUS Currency Design Features
• Star notes• Replacing mutilated currency
with same serial number is costly
• A star is added to show a bill out of sequence
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US Currency Design FeaturesUS Currency Design Features• Microprinting
• Printing placed at various locations on currency too small to be reproduced by modern printers
• Usually located in different locations for different denominations
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US Currency Design FeaturesUS Currency Design Features• Watermarks
• All new currency except $1 have watermarks of the portraits on the bill built into the paper
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US Currency Design FeaturesUS Currency Design Features
• Security Strip• A thin gold-leafed strip built
into the bill• Will fluoresce under UV
light• Located in different places
for different denominations
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Counterfeit DetectionCounterfeit Detection• Portraits
• Should appear “lifelike” and very detailed
• Federal Reserve and Treasury Seals• Sawtooth design is clear,
distinct and perfectly even• Border
• Scrollwork is clear and unbroken
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Counterfeit DetectionCounterfeit Detection
• Serial numbers• Distinct style and evenly
spaced• Always the same ink
color as the Treasury seal
• Paper• Tiny blue and red fibers
are found throughout
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Counterfeit DetectionCounterfeit Detection
Take a quick look…
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Counterfeit DetectionCounterfeit Detection
How much was the bill worth on
the previous slide?
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Counterfeit DetectionCounterfeit Detection
This type of counterfeit is known as a “raised note”. Higher values of genuine currency are glued to the
corners of a lower denomination bill. Look carefully and you will see the glued corner. Low tech but effective…
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Counterfeit DetectionCounterfeit Detection
• Toner technology and inkjets• 3 Main types of toner/copiers
• Black/white• Monochromatic• Full color
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Counterfeit DetectionCounterfeit Detection• Counterfeit
detectors• Usually work by
infra-red and/or ultraviolet sensors
• Detect unique features found on legal bills but difficult to fake
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Counterfeiting PenaltiesCounterfeiting Penalties• For production or
possession with “fraudulent intent” of any amount over 5 cents• Fines and/or
imprisonment up to 15 years