banknotes
Setting The Stage For The Greek Drachma
With recent election results demonstrating many Greeks want to back out of the country’s Eurozone agreement, financial analysts say the drachma could return to Greece soon. Following three years of economic struggle and several bailouts totally nearly $800 billion, Greece could reinstitute its old currency should they pull out of the Eurozone. Hartmut Grossman, an [...]
A Closer Look At The Security Features On The New Canadian $20 Bill
The Bank of Canada unveiled a new $20 bill last week, the latest banknote in their polymer series. The note is the third bill to be released in the series and features several security features to prevent counterfeiting. There are nine distinctive features on the new $20 bill: – Raised Ink: This feature appears on [...]
Sweden Unveils Look At New Banknotes
Nearly a year after Sweden’s central bank announced the country’s banknotes would be changing design, Sveriges Riksbank unveiled the first glimpse of the new notes. The new notes will span all the denominations – 20, 50, 100, 200, 500 & 1,000 kronor – and the design will feature famous Swedes such as film director Ingmar [...]
Sweden Hints At World’s First QR Banknotes
On the heels of coins embedded with QR codes released by the Royal Dutch Mint last year, Sweden unveiled a glimpse at what could be the world’s first banknotes embedded with QR codes. QR codes – also known as Quick Response codes – play the role of an enhanced barcode. The pattern consists of black [...]
United Arab Emirates Banknotes Pose Problems for ATMs
Five months after the United Arab Emirates (UAE) introduced new Dh500 bills, the Central Bank said it is still experiencing problems with automated teller machines (ATMs) accepting the new banknotes. The bills feature new anti-counterfeiting devices such as transparent windows that are proving to be incompatible the existing ATMs. Rashid Al Fandi, executive director of [...]
Commemorative Jersey Note Features Queen Elizabeth Hologram
The States of Jersey unveiled a special commemorative banknote that features a holographic portrait of Queen Elizabeth this week. Available June 1, the £100 banknote is a special edition note that marks the Queen’s Diamond Jubilee. In order to manufacture the note, a law dating back to 1959 that limited the maximum denomination of any [...]
Royal Canadian Mint To Launch Digital-Chip Currency
Weeks after the Canadian government announced the abolition of the one-cent coin, the Royal Canadian Mint says it’s preparing to launch a digital alternative to coinage and small denomination banknotes. Called “MintChip” the proposed system would be a virtual payment method accessible through microchips, microSD cards and USB sticks. “The easiest way to describe it [...]
Saudi Scientists Create Banknotes With RFID Tags
Scientists in Saudi Arabia have created banknotes containing radio frequency identification (RFID) to prevent counterfeiting. In the world of specialty paper, RFID tags or chips are typically associated with electronic passports. Containing a carrier’s biometric information, the RFID chips facilitate faster and more secure passage at border crossings. Researchers at the King Abdullah University of [...]
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 [...]
