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 Replies: 28 / Views: 9,420 |
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Pillar of the Community
Germany
1064 Posts |
http://www.numismatica-visual.es/This article (in Spanish) says that they found 300,000 Euro coins that are perfect, at a basic glance, even working in vending machines, that had been shipped in from China. Looks like security features will have to be a big thing of new coins, the Chinese are just producing what they like, with the potential to harm economies, not just coin collectors.
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Pillar of the Community
Puerto Rico
778 Posts |
Wow, they are faking even bimetallic coins.  |
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Pillar of the Community
United States
4883 Posts |
Love the slogan at the top of the webpage: "Monedas, monedas y más monedas" ("Coins, coins, and more coins").
Seriously, coins of all types are now being counterfeited in China on an industrial scale, which implies either governmental collusion, tolerance, or indifference.
Colligo ergo sum
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Pillar of the Community
United States
589 Posts |
Perhaps someone knows, but I'm of the opinion that the only coins/banknotes the Chinese ARE not and WILL not counterfeit are the non-bullion current issues of China. Older Chinese stuff and everything else is fair game. The reason I believe the above to be true is simple: the Chinese government doesn't seem to care about counterfeiters or potentially disrupting other economies, they would care about potentially disrupting THEIR economy, since the Yuan is not worthless. If the Yuan would be the Rupee or the Zim Dollar, then things might be different.
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Bedrock of the Community
Australia
21788 Posts |
How many current design U.S. $100 bills have they printed? Your electronic accounts can be attacked by the World's best hackers from any country. Coins and notes of the highest security integrity can, and have been faked, so we all should go back to trading with gold coins.  |
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Pillar of the Community
United States
1192 Posts |
Gold coins and bars can be faked just as easy haha. It's also more widely done counterfeited stuff. Imagine if you would have to get every coin tested before each time it's used.
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Bedrock of the Community
Australia
21788 Posts |
Let's all unknowingly trade with FAKE gold coins then,
or go to Europe and trade with fake Euros, because apparently, that's what is happening.
Gold coins can be faked with a tungsten core to get to the same weight, but the problem remains that gold is a soft metal, and tungsten is amongst the hardest. A ring tone test would pick them very easily, and high volume testing equipment could be developed very easily.
There are lots of fake British One Pound coins in circulation.
Review the threads on the subject here in the CCF.
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Pillar of the Community
United Kingdom
2490 Posts |
I've not worked in Nigeria for many years, but 30 years ago nobody wanted to use the Naira. Dollar bills were common currency in shops, markets and bars. Even so it was recognised that at least 25% of the dollar bills in local circulation were faked. Still didn't stop people accepting them rather than Naira bills.
So how the heck did it make commercial sense for anyone to print phoney 5 Naira bills? UK exchange rate at the time around 0.5p.
And just guess who got stuck with them? Oh yes the foreigners, who always got local money in change. I may still have a few funny 5s tucked away some place.
Edited by alganbagerap
12/19/2014 9:06 pm
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Pillar of the Community
 Germany
1064 Posts |
They don't fake the Chinese circulating coins because, quite simply, it's not worth it. The Chinese probably keep their denominations quite low for this very reason. 1 yuan is the largest coin, worth 10 UK pence, or about 15 US cents. I've seen a fake banknote before though of 5 yuan.
But yes, you're far more likely to get arrested if you're faking Chinese coins. This is how China's working at the moment.
China, for example, has a large gap in the milk industry. Parents who can afford milk (probably about twice what you'd pay in Europe) want it for their kids. But it is foreign companies that are trying to fill the market, but the Chinese govt doesn't like it . The New Zealanders have had problems, the British got a visit from a Chinese official who took a look around one milk processing plant and decided he didn't like it, so banned imports of Milk from the UK. As if this plant were worst than anything the Chinese have, which is a country that often produces deadly goods.
That's China.
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Pillar of the Community
Australia
7096 Posts |
Hmm, Let me think for a Moment. 300,000 Euros created out of nowhere by the Chinese Vs. the odd trillion dollars or two created out of nowhere by the US treasury every year lately.  I wonder who is doing the most damage to an economy? think about that for a second  |
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Valued Member
United States
300 Posts |
trout--shame you you for critical thinking :)
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Pillar of the Community
Australia
7096 Posts |
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Valued Member
United States
300 Posts |
One can only hope the US Treasury has a large supply of zeroes--so far so good.:)
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Pillar of the Community
Australia
7096 Posts |
Quote:
One can only hope the US Treasury has a large supply of zeroes--so far so good.:) HeHeHe 300,000 dumped in Europe looks like "Chump Change" compared  to that |
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Pillar of the Community
United States
1666 Posts |
Keep in mind 300,000 euro is what was caught. This has no bearing in how much DID NOT get caught ;)
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Pillar of the Community
Germany
1238 Posts |
Commercial banks in the euro area are now required to check the integrity of coins submitted by customers; I mentioned that when we discussed the Naples "find" in a different forum a few days ago. This check (as from 1-Jan-2015, according to Regulation 1210/2010) includes damages but also means authentication.
Christian
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Replies: 28 / Views: 9,420 |
Posted 12/19/2014 6:36 pm
