Counterfeit money is currency produced without the legal sanction of a state or government, usually in a deliberate attempt to imitate that currency and so as to deceive its recipient. Producing or using counterfeit money is a form of fraud or forgery, and is illegal. The business of counterfeiting money is nearly as old as money itself: plated copies (known as Fourrées) have been found of Lydian coins, which are thought to be among the first Western coins. Before the introduction of paper money, the most prevalent method of counterfeiting involved mixing base metals with pure gold or silver. Another form of counterfeiting is the production of documents by legitimate printers in response to fraudulent instructions. During World War II, the Nazis forged British pounds and American dollars. Today some of the finest counterfeit banknotes are called Superdollars because of their high quality and imitation of the real US dollar. There has been significant counterfeiting of Euro banknotes and coins since the launch of the currency in 2002, but considerably less than that of the US dollar.
Some of the ill-effects that counterfeit money has on society include a reduction in the value of real money; and an increase in prices (inflation) due to more money getting circulated in the economy—an unauthorized artificial increase in the money supply; a decrease in the acceptability of paper money; and losses, when traders are not reimbursed for counterfeit money detected by banks, even if it is confiscated. Traditionally, anti-counterfeiting measures involved including fine detail with raised intaglio printing on bills which allows non-experts to easily spot forgeries. On coins, milled or reeded (marked with parallel grooves) edges are used to show that none of the valuable metal has been scraped off.
Counterfeiting is sufficiently prevalent throughout history that it has been called "the world's second-oldest profession". Coinage of money began in the region of Lydia around 600 B.C.
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A black market, underground economy, or shadow economy is a clandestine market or series of transactions that has some aspect of illegality or is characterized by noncompliance with an institutional set of rules. If the rule defines the set of goods and services whose production and distribution is prohibited or restricted by law, non-compliance with the rule constitutes a black market trade since the transaction itself is illegal. Parties engaging in the production or distribution of prohibited goods and services are members of the .
Early American currency went through several stages of development during the colonial and post-Revolutionary history of the United States. John Hull was authorized by the Massachusetts legislature to make the earliest coinage of the colony (the willow, the oak, and the pine tree shilling) in 1652. Because few coins were minted in the Thirteen Colonies, which later became the United Colonies and then the United States, foreign coins like the Spanish dollar were widely circulated.
To counterfeit means to imitate something authentic, with the intent to steal, destroy, or replace the original, for use in illegal transactions, or otherwise to deceive individuals into believing that the fake is of equal or greater value than the real thing. Counterfeit products are fakes or unauthorized replicas of the real product. Counterfeit products are often produced with the intent to take advantage of the superior value of the imitated product.
Here, we report the nanoscale thermal modification of a new type of fluorescent stimuli-responsive supramolecular polymer assembled from a building block (OPV(UPy)2-RG), which features an excimer-forming fluorescent oligo(phenylene vinylene) (OPV) chromoph ...
2016
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In the multi-armed bandit literature, the multi-bandit best-arm identification problem consists of determining each best arm in a number of disjoint groups of arms, with as few total arm pulls as possible. In this paper, we introduce a variant of the multi ...
The miniaturization of nanometer-sized multicolor fluorescent features is of continuous significance for counterfeit security features, data storage, and sensors. Recent advances in engineering of stimuli-responsive supramolecular polymeric materials that ...