Status report on euro counterfeits seized during the first half of 2013

Banknotes

In the first half of 2013 a total of 979 counterfeit euro banknotes were seized on the territory of the Slovak Republic. This represents an increase of almost 25% on the quantity recovered in the first half of the previous year. All counterfeits except one were seized in cash circulation.

The half-yearly trend in the number of seized counterfeits

During the reporting period EUR 100 was the most counterfeited banknote (41%) and together with the EUR 50 accounted 75% of all seized counterfeits. The share of EUR 20 counterfeits sharply decreased and reached less than 10 %.

Breakdown of counterfeits by denominations

The quality of seized counterfeits is mostly good. In spite of this fact the counterfeits can be detected without using special technical equipment provided sufficient attention is paid to the acceptance of money.

Indeed, counterfeits can be easily distinguished from genuine banknotes by using very simple test based on FEEL – LOOK – TILT check. Combination of these steps reliably enables to detect a counterfeit banknote. The above described test together with its visual demonstrations can be found in publicity materials of the Eurosystem or on the ECB web site www.ecb.int and on web sites of the individual national central banks of the Eurosystem.

Coins

In the first half of 2013 a total of 3 216 counterfeit euro coins were seized on the territory of the Slovak Republic. In comparison with the first half of the previous year when only 896 pieces of counterfeit coins were seized, this represents increase of 259%. The most frequently seized coin counterfeits were those of denomination 2 €. Despite increase of number of counterfeits it is possible to state, that compared with the total number of genuine euro coins in circulation, their share remains very low.

The half-yearly trend in the number of counterfeit euro coins seized in Slovakia

As regards the quality of fabrication, the counterfeits are mostly of good or very good technical level. Therefore it might not be easy for the public to detect counterfeits especially if accepted coins are not paid sufficient attention.

Breakdown of seized counterfeit euro coins by denomination

The most accessible tool to detect a coin counterfeit is a simple magnet. As the genuine 1 € and 2 € coins have magnetic core, it is possible to test the suspect coin by application of a magnet to a core and subsequently compare its magnetism level with magnetism level of a genuine coin. It is also important to observe the general appearance and color of a suspect coin and these attributes compare with those of a genuine one. In case of suspicion with 2 € coins it is also recommended to pay attention to the edge lettering.

More detailed information about the common and single national sides of circulation coins can be found on website of the ECB or the NBS.