How to Spot and Avoid Fake US Currency
Counterfeit coins and counterfeit paper bills are an unfortunate issue that all money collectors must deal with. Individuals create and push fake currency in hopes of making large sums of money – if they can talk one person into thinking the coin is real, they have made their money. It is up to buyers and dealers to take note of fake US currency and avoid it.
There are a couple of different things that you can do to avoid counterfeit US currency. As long as you put in some research time, you will be able to spot these fake pieces. This will help to save you money and will allow you to alert coin shop owners who may not realize that they have been sold a counterfeit.
Research Each Coin
While there are plenty of counterfeits out on the market, there is also plenty of information on counterfeits. If you are serious about coin collecting, you should research each coin that you are interested in and understand the visual marks that it should have. You may also find visual information on different counterfeits, helping you to spot these fake pieces of US currency as quickly as possible.
Carefully Examine Each Coin
The most important thing for you to do when you are about to purchase a piece of US currency is to inspect it. When you find the piece, take a close eye to it and look at the front and back of the money. you may want to use a small magnifier to help you to get a closer look to all of the details of the money.
This is where your previous research will come in handy. You will know exactly what to look for in terms of real money or in terms of spotting fake money. This must happen when you purchase money, as you need to know the status (real or fake) of the money before you make the purchase.
Stay Off Spam Sites
One of the downfalls of online shopping comes from not being able to see what you are purchasing before you buy it. You may be sold a counterfeit coin, but would not know that it is fake until you have already made the purchase.
This is why it is important to frequent only the best online coin collector shops and purchase from them instead of through spam sites. You will be able to see the coin and talk with the seller before you make the purchase, helping you to avoid fake US currency as much as possible.
As a coin dealer, you need to avoid fake US currency to make sound and smart purchases for your shop. If you purchase a counterfeit, you will have lost out on that particular investment. As a coin collecting individual, you need to avoid fake US currency to strengthen your collection. If you have a counterfeit, your collection value is weakened and you will have lost money. Both types of individuals should follow these steps to understand how to avoid counterfeit US currency.