Real Estate Articles
Can you Spot a Counterfeit??
By Robin S. McGlone, Home Mortgage Consultant

“MONEY WON IS TWICE AS SWEET AS MONEY EARNED”…FROM THE MOVIE ‘THE COLOR OF MONEY’. WHETHER EARNED OR WON, THE COLOR OF MONEY IS CHANGING, IN ORDER TO COMBAT COUNTERFEITING. AND WITH $250,000 IN COUNTERFEIT MONEY BEING INTRODUCED INTO CIRCULATION EVERY 24 HOURS…IT’S VERY POSSIBLE THAT YOU MAY HAVE HAD SUCH A BILL PASS THROUGH YOUR HANDS.

A few years back, a young man approached the cashier at a local McDonald’s and paid for his hamburger with a $20 bill. Next in line was his friend, who did the same thing. After that came a third. Nothing unusual about this…except that these young men had produced the bills at home on a desktop computer.

Welcome to the new face of counterfeiting. Where it once was an expensive and laborious process to reproduce a high-quality US greenback — today’s color photocopiers, scanners, and ink-jet printers have opened up counterfeiting to a new breed of criminal. Younger, more comfortable with technology, and sometimes with no prior criminal record, the ease of counterfeiting has tempted some people into committing a serious felony…who otherwise might never have dreamed of taking such a risk.

But identifying and detecting the authenticity of a note can be quite simple if you know what to look for. Use these tips to determine if a note is phony or real. Put the suspect note and the genuine note (of the same denomination) side by side and use a magnifying glass to compare the portrait, the paper, and the print quality.

The portrait on the genuine note will be lifelike, sharp, and will stand out from the background of the note. On the counterfeit note, the portrait will appear blurry, lifeless, flat, and will blend into the background of the note. The paper of a genuine note has a distinct look and feel. Genuine currency paper is one-fourth linen, three-fourths cotton, and contains tiny red and blue fibers embedded throughout the paper. Counterfeit paper has the red and blue lines printed on the surface not embedded in the paper. When looking at the print, compare the Federal Reserve and Treasury seals, border, and serial numbers. On the genuine note the Federal Reserve and Treasury seal saw-tooth points will be distinct and sharp, borders will be clear and unbroken, and serial numbers will be evenly spaced and printed in the same color as the Treasury seal. On the counterfeit bill the print will be blurry, uneven, and the numbers will not be uniformly spaced.

And to combat the growing risk of counterfeiting, the US Government is taking great strides to redesign currency with enhanced designs and security features. The redesigning process started in 2003 when the new $20 note was introduced, followed by the $50 note in 2004. The new $10 note will enter circulation in early 2006.

Check out these new features:

· Color-Shifting Ink - the numeral located in the lower right corner of the note changes color when tilted from copper to green.

· Watermark - hold the note up to the light and look for the watermark or faint image located to the right of the portrait. The faint image will be similar to the portrait on the face of the note and can be seen from both sides of the note.

· Security Thread - a small strip has been embedded in the note with the words USA, the denomination of the note spelled out, and a small flag. These features are visible when held up to the light or held under an ultraviolet light. When held under an ultraviolet light, the thread will glow in color and the color will differ depending on the denomination.

A few additional design features worth noting include the added background colors. Of all the design features, the added colors will be the most noticeable. The borders and the fine lines surrounding the portrait on the face of the note and the building on the back of the note have been removed. Symbols of freedom have been added to the face of each note and differ for each denomination.

By adding the security and design features to the notes, counterfeiting of US currency has already significantly dropped. In an effort to continually keep the levels of counterfeiting low, the government expects to redesign our currency every seven to ten years. The next note to be redesigned with the new security features will be the $100 bill. At present, there is no plan to redesign the $5 note, and the $1 and $2 notes will not be redesigned at all.

If you ever have a note that you suspect is counterfeit, turn it over to your local police department. If the police department determines that the note is genuine it will be returned to you. Although you will not be reimbursed if the note is counterfeit, knowingly passing a counterfeit note is against the law.

Are YOU interested in finding out what you might pre-qualify for on a mortgage to purchase a home? Please contact your local mortgage consultant, Robin S. McGlone today to start the process! Anyone mentioning this newsletter will receive a FREE Appraisal on their home purchase! Ms. McGlone can be reached at (303) 378-5973, or robin@robinmcglone.com. You can also visit www.robinmcglone.com to complete your FREE pre-approval on line!

As always, if know someone looking to refinance a home, or purchase a new home, please contact Robin McGlone with their name and phone number. She will take great care of them!






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