Archive for March, 2012

Canadian Government Eliminates Penny

Unveiling their 2012 federal budget yesterday, Canada’s government announced their plans to eliminate the penny from the country’s currency landscape. The government said the one-cent coin costs too much produce and was described as “a burden to the economy” in a pamphlet released on Thursday. According to an article published by the CBC, it costs […]

Metal Detectors Could Detect Smuggled Notes

New research from the University of Washington shows that metal detectors at security checkpoints were able detect and count smuggled stacks of banknotes. According to an article published by Gizmodo, “physicists Christopher Fuller and Antao Chen found that ordinary handheld metal detectors were ale to recognize magnetic ink in a single dollar bill from just […]

New $50 Canadian Bills Enter Circulation This Week

The Bank of Canada will begin circulating its new $50 polymer banknote this week. The bill is the second in a series of new banknotes the Bank of Canada will introduce over the next two years. The first note, the $100 denomination, was released in November 2011. The new Canadian banknotes feature security devices such […]

Nearly 100 Countries Now Issue E-Passports

New statistics released by the International Civil Aviation Organization (ICAO) say that nearly 100 countries around the globe are now issuing biometric e-passports. The ICAO is a United Nations agency that oversees international air travel. Its latest report shows not only that 93 out of 193 U.N. member states are currently issuing e-passports, but also […]

Czech National Bank Counterfeit Cash App

A new phone app has been unveiled by the Czech National Bank Counterfeit Cash App which it says will help consumers identify counterfeit money, using detailed photographs and descriptions of all valid versions of Czech banknotes and coins. The Czechs see value in protecting their traditional currency, the koruna as the Euro is coming under criticism […]

£30,000 Counterfeits Made

Using digital images of real money and an ink- jet printer, almost £30,000 in fake bank notes were counterfeited. On Monday at the Glasgow Sheriff Court, Ian Beaton admitted to creating the fake notes. After police searched his car near Aberdeen and found £2000 of seized counterfeit notes with his fingerprints on the envelope the […]

Zambia Returns Coins To Circulation

As the African nation of Zambia continues to struggle with inflation, Zambia has recently announced it is planning to toss three zeros off its banknote denominations while returning coins to circulation. Zambia Daily Mail newspaper on January. 26, 2012 quoted businessman Lubuto Simwanza as saying, “Zambia has the highest denominations in the region. If you […]

Malawi New K1, 000 Banknotes

The Reserve Bank of Malawi (RBM) confirmed the 1,000 Kwacha (about $6) banknotes according to Nyasa Times. Dr. Perks Ligoya, Reserve Bank of Malawi (RBM) Governor said that the new banknote will be in circulation in the next six months at a news conference in Blantyre on Friday. Ligoya said “We are introducing a complete […]

Bank Of Namibia To Introduce New Banknote Series

The Bank of Namibia announced this week that it will release a new series of banknotes on March 21. The new series will cover the N$10, N$20, N$50, N$100 and N$200 banknotes, and will be equipped with heightened security features to prevent counterfeiting. These new banknotes will also feature a change in design. The portrait […]

Greek Drachmas Worth 240 Million Euros Unclaimed

ATHENS -Greece swaps a record-breaking debt this week which were overshadowed by the equivalent of 240 million euro’s unclaimed,  in exchange for now-obsolete Greek drachmas. Nearly 82 billion drachmas ($320 million) in banknotes were unaccounted for when the deadline for withdrawal ended on March 1 by the Bank of Greece, said Kathimerini daily. Drachma coins […]