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an old $100 bill, the likelihood that it is counterfeit and not genuine U.S. currency is about one in eight hundred according to a study by Professor David Wootton of Durham University The Effects of Counterfeiting and Why Old Currency Needs To Be Removed: why must old currency be taken out of circulation when new currency is made? New currency is expensive to produce so this leads many countries around the world to leave old denominations like $500 or $100 out of circulation which means that law enforcement agencies will have a difficult time detecting forgeries. Older currencies also don’t contain enough security features such as holograms and watermarks that newer notes do making it easier for criminals to copy an older note with less sophisticated measures such asIt may seem like a harmless act to take an old bill out of circulation and put it in your wallet, but counterfeiters do the same thing. Counterfeit money is a huge problem for many countries around the world because people would rather spend counterfeit money than real cash. It’s estimated that $5 trillion is in circulation globally with only 20-30% being accounted for by central banks. This means that up to 4 trillion dollars are circulating outside of government control which puts more pressure on law enforcement officials and makes it harder to detect counterfeiting operations.
Our country has already seen the effects of counterfeit money before. The $100,00 bill was introduced in 1969 to help combat counterfeiting operations and these bills are still being used today. New currency is expensive to produce so this leads many countries around the world to leave old denominations like $500 or $100 out of circulation which means that law enforcement agencies will have a difficult time detecting forgeries. Older currencies also don’t contain enough security features such as holograms and watermarks that newer notes do making it easier for criminals to copy an older note with less sophisticated measures such as photocopying one side of a note onto another sheet then reprinting their own paper money using color laser printers at home.
If you’re given change from
