Status report on euro counterfeits seized during the first half of 2014

Banknotes

In the first half of 2014 a total of 1,910 counterfeit euro banknotes were seized on the territory of the Slovak Republic. Out of the total number, 70 % was seized before putting into circulation, and thus did not cause threat for cash circulation.

The half-yearly trend in the number of seized counterfeits

During the reporting period EUR 500 was the most counterfeited banknote of which major part was detected in the police action. The most numerous counterfeits seized in cash circulation included denominations of 50 EUR (50.6 %) and 20 EUR (19.6 %).

Breakdown of counterfeits by denominations

The quality of counterfeits seized in cash circulation is mostly good. Despite this fact the counterfeit 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 2014 a total of 1,511 counterfeit euro coins were seized on the territory of the Slovak Republic. In comparison with the first half of the previous year when 3,216 pieces of counterfeit coins were seized, this represents decrease of 53 %. The most frequently seized coin counterfeits were those of denomination 2 €.

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 not sufficient attention is paid to the acceptance of coins.

Overview 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 suspect 2 € coin 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.