Counterfeit $1 Bills Seized

[Jim Koepke]

making dollar coins and 2 dolalr bills is a great scheme. Make say one billion dollars worth, cost 250 million to make. hand out in exchange for paper money. Everyone saves them in the sock drawer as a "collectible, 3/4 billion profit for the treasury department. Similar to collectible stamps that never get used.
Bil lD

There is a word for that, seigniorage.

seigniorage | ˈsānyərij | (also seignorage)
noun
profit made by a government by issuing currency, especially the difference between the face value of coins and their production costs.

Speaking of stamps, a Stamp & Coin dealer in Santa Rosa wanted to get out of the stamp business. He ran an ad hoping people would stop bringing in old stamps to sell. In the ad he said he was now paying half face value for unused stamps. It brought people in by the bus load. Many of them were used for sending out his mail. It was kind of fun getting mail from his shop. My neighbor collected stamps. He specialized in postmarks. He really lit up and beamed when a piece of my mail was given to him with a block of 50 year Commemorative Civil War Veterans stamps.

jtk

[andrew whicker]

So the moral of the story is that we're all fine. No one checks, unlikely you'll be the last one in line.

Moving on...

There was a group of kids at my hs making fake money. When they got caught, FBI investigated and I'm pretty sure scared the living crap out of them. They were spending the money at stores and at school. Very lucky they didn't go to federal prison.

[John Goodin]

I have seen the corners of higher denominations pasted on a one several times while working in a grocery store. Luckily, I never took one, that I know about anyway. When people are handing you money all day, and it is not yours, the attention to detail wanes.

[Jim Koepke]

So the moral of the story is that we're all fine. No one checks, unlikely you'll be the last one in line.

No one wants to be the last one in line. Having a counterfeit bill or two could ruin a person's day if they were caught unknowingly trying to pass it along.

We also do not know if this is the only shipment. There are other ports of entry along our northern border.

There will be many who will check. Often when counterfeiting stories appear in the press it is because the Secret Service wants people to be watching. Their job isn't yet done. They do not have the counterfeiters. They may not have any good leads on the American distribution network.

The treasury doesn't like to publicize counterfeiting because it tends to give people ideas. "Gee, run off a few twenties on the color copier at work and if caught, they must have been some of that counterfeit that has been going around."

jtk

[Rod Sheridan]

The $1 coin would actually save the treasury money by not having to deal with the hassle of printing and then recycling bills.

There are $1 coins. Most people would rather not deal with them. From 1970 - 1981 there was the Susan B Anthony dollar. It suffered in circulation due to its size. Most people thought it was a quarter.

Almost 100 years earlier another coin suffered the same fate, the 20¢ piece was a little bit smaller than a quarter. One of these came my way in change back in the 1950s.

jtk

We no longer have 1 or 2 dollar bills, they've been replaced with coins.

We no longer have a penny either, it was simply discontinued................Regards, Rod.

[Pat Barry]

Counterfeit $1 bills is a kids game, but in another year or two there will be no one needing to use cash money for most transactions. Plus, still a very good chance that Bitcoin becomes widely accepted.

[Dan Hunkele]

The gentleman club dancers will need to check their "pockets".

[mike stenson]

Counterfeit $1 bills is a kids game, but in another year or two there will be no one needing to use cash money for most transactions. Plus, still a very good chance that Bitcoin becomes widely accepted.

I highly doubt we'll be cashless within a decade, let alone two years. I like cash, it's a great anonymizer in an environment where everything you do, and every purchase you make is tracked anyway. Plus, people have been talking about bitcoin for years now, and about the only thing that's been widely accepted is the blockchain construct.

[Pat Barry]

I highly doubt we'll be cashless within a decade, let alone two years. I like cash, it's a great anonymizer in an environment where everything you do, and every purchase you make is tracked anyway. Plus, people have been talking about bitcoin for years now, and about the only thing that's been widely accepted is the blockchain construct.

Wife and I went to Norway, Sweden, Denmark for two weeks last summer and the only rrason I needed cash was to feel like I was ready for an emergency. Everything was paid for on credit card. No worries. Thats the way its headed.

[mike stenson]

Wife and I went to Norway, Sweden, Denmark for two weeks last summer and the only rrason I needed cash was to feel like I was ready for an emergency. Everything was paid for on credit card. No worries. Thats the way its headed.

You can do the same in the US. But in both instances it's far from being cashless. That means that no one uses cash. We're a long way from that.

For what it's worth, I use cash less in the US than in the EU. You can use card there, but cash is still more predominant and thus generally easier. Did you notice the waiter coming over with a pocket book, then leaving again when you pulled out your card?

[Jim Koepke]

Counterfeit $1 bills is a kids game, but in another year or two there will be no one needing to use cash money for most transactions. Plus, still a very good chance that Bitcoin becomes widely accepted.

There is a very good chance Bitcoin will languish until it fades away.

Counterfeiting $1 bills may not be a real money maker. However it could help to destabilize an economy.

There are large numbers of homeless in every city in America. They would love to have cheap $1 bills they could feed into vending machines and bill changers all day.

Cash will be around for years to come. Not everyone has a cell phone or even a bank account.

Yard sales, flea markets, farmers markets, traveling road shows and a wide variety of other legal activities do not now nor in the near future will have the logistical ability to go cashless.

jtk

[Günter VögelBerg]

Why would you counterfeit a $1? Wouldn't it be just as easy to counterfeit $20 or any of the bills without the metal strip?

For being the most dominant currency in the world it amazes me how primitive US bills are compared the most other major currencies. Ever tried to counterfeit a Canadian bill? Those things are wild.

[Leo Graywacz]

Likely no counterfeit measures in a $1 bill.

I got a new printer and decided to copy a $1 bill. My last printer wouldn't print them, something in there detected it was cash and stopped it from being copied. I put the bill at an angle and it copied it. And it was a damn fine copy of it too. I was shocked. I cut it out and put it on the counter for my wife to see. She thought it was real, nothing on the backside of it.

Tore it up and threw it away. I thought the printers weren't suppose to be able to copy cash. Even my 1991 version of Paint Shop Pro won't put a bill out to the printer, it too knows its not allowed to do so.

[Pat Barry]

You can do the same in the US. But in both instances it's far from being cashless. That means that no one uses cash. We're a long way from that.

For what it's worth, I use cash less in the US than in the EU. You can use card there, but cash is still more predominant and thus generally easier. Did you notice the waiter coming over with a pocket book, then leaving again when you pulled out your card?

Mike, I dont understand your question about the waiter and pocketbook. All the waiters either took our card to run it at their station or plugged it into a device they carried with them.

[Malcolm McLeod]

OK! So I'm thinking the US Secret Service is even now signing up as SMC members - en mass.