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Do you know how to tell if your coin is fake?

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Gardaí recently seized nearly €3,000 worth of counterfeit €2 coins during searches in Dublin and one person has been charged in connection with the operation.

A number of searches were carried out in late July following an investigation into the circulation of counterfeit coins by Gardaí in the Raheny Garda district.

“During these searches, €2 coins with an apparent face value of €2,920 were seized. These coins were examined and confirmed to be counterfeit. This is the first major seizure of counterfeit coins in this jurisdiction,” a Garda spokesman said.

“As a result of this operation, at the end of July 2022, one person was charged and put on trial and €73,986.62 worth of assets were frozen in bank accounts.”

Gardaí and the Central Bank have issued advice to the public on how to spot counterfeit money.

To visually inspect coins, people should use a magnifying glass whenever possible, or compare them to other coins to identify a different colored ring and/or core; missing edge lettering; wrong spelling or front; different size, thickness or diameter or to see if the weight is different.

Gardaí said people could also do an “endurance test” as some counterfeit coins “bend”.

The “magnetic test” can also be used.

“Real €2 and €1 coins are slightly magnetic. A magnet should allow you to lift the coin, but with the weight of the coin and the slight magnetism, you should be able to shake the coin off the magnet with ease. Most counterfeit €2 and €1 coins are either very magnetic, non-magnetic or only the ring is magnetic due to the materials used. Real 50 cent coins are not magnetic,” added a Garda spokesman.

Members of the public who suspect they have counterfeit currency are required to submit it to a local financial institution, the Gardaí, or the central bank’s National Analysis Center (NAC) or Coin National Analysis Center (CNAC).

More information can be found on the Central Bank’s website: https://www.centralbank.ie/consumer-hub/notes-and-coins/suspect-counterfeits.

https://www.independent.ie/irish-news/crime/do-you-know-how-to-spot-if-your-coin-is-a-counterfeit-41887485.html Do you know how to tell if your coin is fake?

Fry Electronics Team

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