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Do people collect counterfeit money?



 
 
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  #1  
Old August 25th 03, 06:54 PM
Ray Pendergraph
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Default Do people collect counterfeit money?

I am very new to collecting money. I saw a post earlier that was
talking about collecting counterfeit money I have a couple of
questions.

1) Do people actually collect counterfeit money? And I'm guessing this
is not legal (even though they are not trying to circulate it).

2) There was also comment about foreign counterfeit money not being
illegal here. Is that true as well... what about counterfeit british
money printed by the Germans in WWII?

Do other countries have as much of a counterfeiting problem as we do
in general?

Any comments welcome.
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  #2  
Old August 25th 03, 10:47 PM
Scottishmoney
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"Ray Pendergraph" wrote in message
om...
I am very new to collecting money. I saw a post earlier that was
talking about collecting counterfeit money I have a couple of
questions.

1) Do people actually collect counterfeit money? And I'm guessing this
is not legal (even though they are not trying to circulate it).

2) There was also comment about foreign counterfeit money not being
illegal here. Is that true as well... what about counterfeit british
money printed by the Germans in WWII?

Do other countries have as much of a counterfeiting problem as we do
in general?

Any comments welcome.


If you are in the USA it is illegal to collect any counterfiets of anything
the US Govt ever printed. The G-Men will pay you a not so friendly visit,
take your notes, and yourself. There maybe a few foolhardy souls that may
have some in their collections, but they aren't talking.

The British notes countefieted by the Germans, were printed in "Operation
Bernhard". Untold thousands of them were dredged up from an Austrian lake
beginning in the 1950's. Apparently the crumbling nazi authorities dumped
them there to hide them from the British or Americans, and thus saving their
hides in the process.

They are legal to own, and they are a bit of a scourge if you collect the
real things, since the counterfiets of the pre 1940's era notes are much
more common than the real McCoys.

The counterfieting problem is much more of a problem in other countries than
in the USA, in Russia authorities have estimated in some regions that 10% or
more of the currency is forged, this includes US $ which circulate as a
medium in Russia. I remember in Russia several years ago someone not taking
dollar bills because they did not have a watermark like most other
currrencies by then had.

Dave


  #3  
Old August 26th 03, 07:38 AM
jimmyfc
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Default

"Scottishmoney" wrote in message ...
"Ray Pendergraph" wrote in message
om...
I am very new to collecting money. I saw a post earlier that was
talking about collecting counterfeit money I have a couple of
questions.

1) Do people actually collect counterfeit money? And I'm guessing this
is not legal (even though they are not trying to circulate it).

2) There was also comment about foreign counterfeit money not being
illegal here. Is that true as well... what about counterfeit british
money printed by the Germans in WWII?

Do other countries have as much of a counterfeiting problem as we do
in general?

Any comments welcome.


If you are in the USA it is illegal to collect any counterfiets of anything
the US Govt ever printed. The G-Men will pay you a not so friendly visit,
take your notes, and yourself. There maybe a few foolhardy souls that may
have some in their collections, but they aren't talking.

I'm not sure that this applies to MPC's and to Continental's both of
which were issues of the US gov.


  #4  
Old August 26th 03, 07:01 PM
Coin Saver
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Default

From: raypendergraph

1) Do people actually collect counterfeit money?

Some do.

2) what about counterfeit british money printed by the Germans in WWII?

Interesting footnote on this ... the German "counterfeits" were said to be as
good of specimens, if not better, than the originals. They put a lot of effort
in counterfeiting them.

Do other countries have as much of a counterfeiting problem as we do in

general?
Absolutely. Here's how I see it:
Jaque Blaque, an embezzler, absconds with one tenth of a percent of the company
funds. the company is harmed. Jowe Blowe just swiped his Dad's ATM card and
made off with 5% of Dad's savings. Dad is harmed, too; probably moreso than
Jaque's company.

Sure, the U.S.'s pockets are "deeper", but other countries can be easier to
breech into the system. And they are less likely to be able to afford the loss
of the money, and can less afford the rescources to track down or stop the
felons than the U.S. can.

*IF* I wanted to become a counterfeiter, I would *NOT* try to duplicate US
Currency. If it were currency I was after, I'd *more likely* pick a system
which has looser safeguards, easier to make the counterfeits, then deposit the
counterfeits, then do an international bank transfer of the funds; probably
with a stepping stone hop through a bank in someplace like Sri Lanka or Fiji.

8-/




Coin Saver
  #5  
Old August 27th 03, 04:12 PM
Coin Saver
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Default

From: Christian Feldhaus

For somebody in the US, counterfeiting USD notes and attempting to spend them

in the US may not be a brilliant idea. But in other countries, where such notes
are circulating and widely accepted as a second currency?

If the notes are circulating and widely accepted as a second currency, you
still have the initial problem ... the greater risk of the counterfeits being
discovered as such at the initial entry point into the financial system (when
spending or depositing).

But if I made £10,000 worth of easier-to-copy Phillippine Pesos, then deposited
them into a Singapore international bank, had the funds then wired to an
international bank in Nairobi, then to one in the Carribean, it'd come out
clean and nearly trail-free.

But all of that is fictitious speculation, of course. I have better things to
do with my talents / time than to flirt with 2 decades worth of jail time.

8-/
Coin Saver
  #6  
Old August 27th 03, 11:06 PM
Scottishmoney
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Default


"Christian Feldhaus" wrote in message
news:1g0bej4.fscpq21uu8nc0N%ignore0503@feldhausnet .de...
Coin Saver wrote:

*IF* I wanted to become a counterfeiter, I would *NOT* try to
duplicate US Currency.


Guess it depends on where you are. For somebody in the US,
counterfeiting USD notes and attempting to spend them in the US may not
be a brilliant idea. But in other countries, where such notes are
circulating and widely accepted as a second currency?

Christian


The former USSR is a prime example of where a lot, and I do mean lot of
counterfiets circulate. By some Russian media accounts as much as 20% of
the circulating USA Dollar notes are counterfeit at times. I remember when
we spent US$ in Warsaw Poland, after they saw that we were coming from
Ukraine they thoroughly checked our cash when we tendered it at the US
embassy there. Never mind that it originated in the USA from whence we
originally came.

Dave


  #8  
Old August 28th 03, 07:21 PM
Coin Saver
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Default

From: Jim

Wouldn't Philipine Pesos deposited into a Singapore Bank still be a second

currency being deposited in an initial entry into the financial system?

OK perhaps a poor example ... I haven't really looked into just which countries
to use, as I don't intend to seriously entertain the notion. Dave had a better
example, that being of the Russian situation ...

8-/


Coin Saver
  #9  
Old August 29th 03, 07:29 PM
Roland Rollins
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I have a fair amount of both counterfeit and propaganda money (looks
like the real thing on one side, with a political message on the
other). Included in the counterfeit group is the F69 & F70 series
counterfeit 20 Peso notes from (for!?) Cuba. No, the U.S. didn't
print them, but the CIA caused these to be produced.

Then there's the propaganda/counterfeits the US had produced of North
Vietnam 1,2, & 5 Dong notes. These had the message on a strip on the
side. Once removed, they were openly accepted. 50 BILLION pieces of
propaganda were dropped during the "conflict", enough for 1500 for
each man, woman, & child in both North & South Vietnam.

If you read the book produced by the US GAO, Counterfeit Deterrent
Features for the Next-Generation Currency Design, you will discover
many more US notes are counterfeited out of country than in country.

The counerfeit/propaganda issues are discussed and translated on this
web of mine:
http://currency_den.tripod.com/War_C...feits/war.html
Security devices (or lack thereof with regards to US currency) is
discussed in my son's science paper he
http://currency_den.tripod.com/Travis/travis.html
 




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