Alexander Hamilton (1st Treasury Secretary), The White House, I don’t know (I don’t see a lot of $100’s. I looked it up, though. Independance Hall.).
But did you know that most of the counterfeits are uncovered because of the feel of the paper? It’s expensive to make paper that feels exactly like a dollar, especially when worn.
Regarding the American reluctance to change: SCREW THEM (well, technically, I should say “screw us”)!! There will be bitching and moaning, but if you only give them one option, then what choice do they have?
Our money can be seen at www.usmint.gov for coinage and www.moneyfactory.com for printed money (and find out who was on the $10,000 note!)
There’s not a lot of hoopla over this in the rational world. The Constitution says that the Congress shall have the power to “coin money and regulate the value thereof”. Congress has declared that Federal Reserve Notes are legal tender and has regulated their value (by asking the Federal Reserve to do this for them.)
If you tell any court in the US, that Federal Reserve Notes aren’t legal tender, your argument will automatically be dismissed.
Thanks for the responses. On a related point, how common is it for somebody to hand over the wrong denomination of note (i.e. give you a 10 in change for a five thinking it’s a one). Some people have suggested that if you’ve lived with American currency all your life you can spot the subtle differences easily.
Our largest denomination coin is the recently-introduced £2 (~$3). There was a terrible fuss when they introducd the £1 coin and abolished the £1 note back in the late-1980s, though. I think there’s something psychological about it, which is presumably why you keep the 1 cent and we keep the one penny coin despite the fact that they’re not worth anything.
Incidentally, our coins in decsending order of diameter are: £2 (gold/silver), 50p (silver), 2p (bronze), 10p (silver), £1 (gold), 20p (silver), 1p (bronze), 5p (silver). Kind of puts the nickle / dime thing to shame.
Different sized banknotes are of benefit to the blind or partially sighted. Even better would be those like in the Netherlands (or was it Sweden - or both, I cannot remember) with raised marks making it much easier to distinguish by feel.
Incidentally, the Bank Of England is soon to issue tenners with Charles Darwin on the back. Presumably such a move would not go down so well with certain sections of American society
In a grocery, I once gave the clerk a $10,
she rang up $20 and gave me change based
on it. I didn’t say anything cause it
wouldn’t have happened if she’d been
watching what she was doing instead of
flirting with the bag boy.
Like I said, it’s the facial hair. No doubt there’ll be a backlash when peopel cotton on to the fact that we can’t have women (except the Queen) on our banknotes.
samclem, I base my assumption on the fact that I used to work full time at such an establishment.
Also, I used to appraise coins / paper money for a living (my first job in high school - nerd, nerd, nerd!). Nothing worse than telling someone the gold coin that’s been passed down thru generations is nothing more than a counterfeit.
Do you have any references for this? It’s a small price for a counterfeiter to pay to get well made paper if he’s going to print up $100 bills on it. I personally have found more notes to be counterfeit by the printing, and I can only think of a handful that I could detect (at first) by the paper.
Exactly. That’s why the UK removed the one pound note when they introduced the coin. It’s also why the American dollar coins always fail.
I wish I did. I saw it twice on TV, once on a Nova special and once on the Discovery Channel. (Can anyone back me up?) I’ll see if I can find anything. It’s especially effective, they said, at stopping small-time color copier counterfeiters. Also, notice the small red/blue threads in the paper. If you’re not certain, that’s a good thing to look for.
Big-time counterfeiters have problems getting the feel of the ink exactly right, though that’s difficult to spot. I think the printing process used is called intaglio, and only governments seem to be able to afford the machinery. It’s said that Iran printed a lot of US money on their intaglio presses in the 70’s and 80’s.
The same thing happened in Canada. They hated the coin dollar (loon) until the paper was gone, then they started to like it. Liked it so much, in fact, that the citizens actually wanted the two dollar coin.
I liked them fine until the other night when I was getting a $5 bill out of my wallet and LINCOLN GAVE ME THE EVIL EYE!
I think we’re going to see a lot of this as these bill start to wear some: Because the portrait is now off-center, the centerline of the bill now goes more or less straight through Abe’s left eye. Repeated folding had caused the coloring on that part of the bill to fade, making the rest of the bill’s coloring much more pronounced by contrast. Resulting optical illusion: Honest Abe giving me a death stare.
On a recent trip to London, I had an excellent opportunity to try out the different sized bills and coins.
Basically, I really like the £1 being a coin. And having bills of differing sizes was only slightly confusing at first.
The only problem I had with the system was the coin sizes. Plus, different denominations are not circular like American coins. I think the 10p was big and heptagonal. In a week, I never could tell the difference in coinage unless I looked at it (with the exception of the thick £1).
My problem with the new designs is that Alex H. is facing the wrong way! Graphic designers and TV cameramen know to place profiles so they “look” to the center of a page/screen, giving them more “nose room” than “back-of-head room.”
Alex is staring off the page, looking like he wants to leave.
Nova’s website talks about the paper and says, “People who handle money on a regular basis, such as bank tellers, can easily determine if a bill is counterfeit by this distinctive feel.” Not exactly what I said, but it isn’t too far off.
50p is big and pentagonal, 20p is small and heptagonal. The 50p, 10p and 5p used to be much bigger than they are now. All the silver coins (except for 20p, which is quite new anyway) have shrunk.
Let me apologize first, JoeyHemlock, as I look back at my posts I made it seem like I was attempting to discredit what you were saying. Also, that is a good Nova article, I wish I had seen the actual show.
I guess I was looking at the paper problem from a different point of view. Whereas I have an active interest in collecting money and stuff, a bank teller may not. Therefore, their primary means of detection would be the paper. Whereas I will at least eyeball a whole bill - the paper ones are easy to catch, and therefore seem infrequent to me.
Does any of this sense? What was the original topic?
“Regarding the American reluctance to change: SCREW THEM (well, technically, I should say ‘screw us’)!! There will be bitching and moaning, but if you only give them one option, then what choice do they have?”
“Exactly. That’s why the UK removed the one pound note when they introduced the coin. It’s also why the American dollar coins always fail.”
Here in Chicago, when the Transit Authority introduced the Transit Card (plastic card that you could add value to on machines located in the L stations), the card was fairly popular with most riders but there was a significant “tokens forever” crowd that wouldn’t touch Transit Cards with a 10 foot pole, mainly for reasons of fear of technology and “but we’ve ALWAYS had tokens!” “How do I know what value is on there when I can’t see it in black and white?” (Stick it into a Transit Card machine.) “What if the turnstile eats the card but won’t let me through?” (What if it does the same with a token or six quarters?) They just weren’t going to trust a little bendy plastic card over solid metal, they didn’t trust feeding their hard-earned money into a slot in a machine, and they didn’t like not being able to see at an instant how much fare they had left as with the tokens.
So the CTA just said outright that after a particular date (back in April of '99 IIRC) tokens would no longer be valid fare for the CTA trains or buses. Period. After that date, either buy a Transit Card or carry a roll of quarters around with you. Needless to say, I don’t see many people opting to pay their fare by pulling six quarters out of their coin-laden pockets and dropping it into the only coin-slot turnstile out of the four or five turnstiles in the station.
Mr. Sheepshead Do I understand you correctly that, in a town of 25,000 people and in a typical small store, perhaps 5 counterfeit banknotes pass each day? I find this hard to believe. But maybe I missed something.
