Authenticating Paper Money
When we trade (for comparative advantage), we use currency. Paper money has many security features for preventing counterfeits. Here are some tips to help you detect counterfeit money. The Bank of Canada has released an informative video on how to check Canadian paper money. You can watch it here: http://www.bankofcanada.ca/en/video_corp/school_broad_en.html. Counterfeiting is a crime.
Here’s how to check your paper money:
Canadian:
- Holographic ribbon should change colours when bill is tilted
- Ribbon should have maple leafs and the amount shown on it
- Should feel raised ink (texture) on large numbers, printed letters, and portrait’s shoulder
- Watermark of portrait in the middle of bill when raised to light
- Number beside the watermark should show as well
- Security thread on back of note should change colours when tilted
- When held to light, the broken bar on the back should appear as solid line
American:
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- The number on the bottom right should change colours from copper to green when tilted
- Watermark should be seen when held up to light
- Security thread should display “USA X” where X is the denomination of the bill
Remember, the one caught with counterfeit money loses, so check your bills when receiving them.
Sources: U.S. Bureau of Engraving and Printing FAQ
Videos about the Bank – Bank of Canada
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