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A bank named after a prominent country, in fact. As to why they're checking: Would you want to receive a counterfeit bill? For those of you who don't know, although we use the same currency as the rest of the UK, we have our own Scottish bank notes that are allegedly more difficult to forge. According to this study put out this year by Judson and Porter, the face value of counterfeit currency relative to the total amount in circulation is about 0. Home Questions Tags Users Unanswered. Hey Jeff, this would have been around the year The particular town I worked at the time was having an issue with counterfeits too. They were however the older Edward Elgar note: uk. I could understand a bank doing this, since it's their job to be strict, but at common salt of the earth places like the movies and the post office? I'd be very surprised if any country in the world honours counterfeit currency. What posts should be escalated to staff using [status-review], and how do I…. Are counterfeit 20 dollar bills or, is counterfeit money in general really that common in circulation? It's 0. Related 6. So if it costs less than 4 cents to check each twenty, you come out ahead by checking them. In the few places I worked in my younger years, the establishment lost the value of the counterfeit note when they attempted to pay it in at the bank - they simply won't honour the note. Further, we conclude that the incidence of counterfeits is roughly the same inside and outside the United States Costco checks my cash when I check out. I worked in the bookies in and only left in December past, so this is fairly recent. I'm not sure to what extent that's actually the case. The best answers are voted up and rise to the top. Asked 9 years, 8 months ago. Generally, we would take two or three notes per week. John Bensin I know at least in the USA they've changed the bills a lot to foil casual counterfeiting possible with advanced digital printers, etc -- still happening! Hot Network Questions. Viewed 20k times. Most of the time fake notes didn't get through as there are fairly straightforward ways of telling the difference in fake notes. But if a bunch of common places check for them.. Mithical 1 1 silver badge 5 5 bronze badges. KeithB Actually, no, it's one dollar out of every ten thousand dollars. This is an ounce of prevention After all if a business gave you a counterfeit bill in change how forgiving are you going to be? Costco may accept thousands of bills in one day. Do these teens know that they are committing a crime which could put them in prison for up to 20 years? Also, this information relates to the UK. JeffAtwood I think you have to keep in mind as well that criminals trying to launder their counterfeit money will probably try to do so via lots of small-impact purchases at retail places. It seems to me that counterfeit 20 dollar bills should be incredibly rare. Have you ever tried to spend any of those Unicorn bills yet? Well, if they catch someone handing them a fake bill, the next thing they do is peer behind to the FBI poster to see if the person handing them the bill is on it. If you have a good printer, you can go from 10 one dollar bills to 10 twenty dollar bills in a day. It's easy to check certain things on the bill. Jamie Hollern Jamie Hollern 1 1 bronze badge. A pen cannot detect these. Active 1 year, 8 months ago. I'm guessing a bookies would see a higher proportion of counterfeit bills than most places. I was thinking those detector pens didn't actually work - but when I googled it, I found How does a Counterfeit Detector Pen work? Laundering money by placing lots of bets and then collecting a nearly-equal amount of winnings is an old trick. They've been changing the bills rapidly in the USA, adding harder to copy features over time. Technically, your fake bill above wouldn't pass the test of counterfeiting, anyway. Featured on Meta. You're not even pretending that it's real money, and no reasonable person would mistake it for such. The pens didn't really work all that well as the forgers found out that dipping forged notes in fabric softener nullified the effects of the pens, and some of the copies were incredibly good. Like so : I saw this happen at the post office multiple times the movie theater My question is.. In a busy nightclub on a NYE, this type of inspection wasn't possible - so is it any wonder we were flooded with the things?! We're switching to CommonMark. That is assuming your bank will catch every fake twenty. The counterfeit bills that are most popular near my school take a 1 dollar bill, wash the ink off, and print a 20 dollar bill image onto it. It's quite a bit more likely than "lottery odds," especially if you accept bills every day. I imagine that they check it because if they accept one from you and then their bank discovers it when they try to pay it in, it's their loss. Ask Question. I remember working a New Years Eve one night and we had taken a few hundred pounds in fake twenty pound notes. Question feed.{/INSERTKEYS}{/PARAGRAPH} Mostly teens do this, so dollars is a lot of money. Active Oldest Votes. The only fake money I've received that I'm aware of came directly from the bank. It's mainly for checking that a bill isn't from photocopier paper, the ink reacts differently with wood-based paper in real dollar bills. The guy I got a buggy ride from up in upstate New York checked my bill. I worked in a William Hill in Glasgow, Scotland. Sign up to join this community. And the post office? How common is counterfeit money in circulation? Jeff Atwood Jeff Atwood 1, 5 5 gold badges 20 20 silver badges 23 23 bronze badges. This is supposed to be a comment, as this is anecdotal, but I can't post comments. Why not? Like so :. I mean, free money is very lucrative. The staff were given a strong telling off, because these note were effectively useless and it was up to the staff to check that the notes were genuine. I used to work in a Licensed Betting Office, or a bookies to use the informal word for it, and we had to deal with this issue all the time. So while there is not that much counterfeit money floating around, there might be certain places where they are a lot more common than in others. If you held a genuine note next to the counterfeit one, without very careful inspection, you simply could not tell which was the genuine. {PARAGRAPH}{INSERTKEYS}It only takes a minute to sign up. This is incorrect, at least in some countries not sure about the states. Also, the paper keeps all security feature except for the metallic ink, so the bills don't work at a bank.