For thousands of years, alchemists attempted turning lead into gold.
Now, counterfeiting chemists of a new age are up to something similar–turning fins into c-notes.
The Oxford Bank recently issued a warning for retailers and individuals to be on the look out for a new, crafty type of counterfeiting.
According to Cindy Edgett, who works in loss prevention for Oxford Bank, branches in the Lapeer area and Orion have seen several counterfeit hundred dollar bills.
‘They’re out there and we have collected them,? Edgett said.
They are five dollar bills which have been wiped and printed over with the markings of a hundred dollar bill.
‘The bleached bills are the hardest to catch,? Edgett said. ‘You have to be very careful.?
It is said five dollar bills are the easiest to bleach.
The bills are not caught in counting machines or with marking pens because they are real paper money.
Oxford Bank’s Orion branch has seen one of the bills recently, according to manager Penny Berger.
‘It was very, very good,? said Penny Berger, who works at the bank’s Orion branch.
‘I’ve worked here for more than 30 years and I’ve never seen anything so good.?
Edgett said most counterfeit bills turn up when retailers come in to make their deposits.
When they are discovered as frauds, the Secret Service is called, the bills seized and the retailer or shopowner loses out on the hundred bucks.
But there are ways for shopowners, retailers and individuals to combat the problem.
Holding the bill up will reveal Lincoln’s face in the watermark on the right side of the bill, as opposed to Franklin’s.
The magnetic stripe is also closer to the face on a real hundred dollar bill. The stripe on a counterfeit goes through the emblem farther to the left.
Edgett urges places of business to get black lights. Holding the bill against it makes it easier to see the watermarks and stripes.
‘It would be a cheap investment and help with driver’s licenses, too,? Edgett said.