Expats in Spain warned over fake coinage scam

Published:  3 Jan at 6 PM
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Tagged: Currency, Caribbean, Euro
Spanish police are warning expatriates and tourists about a fake coinage scam now circulating across Europe.

Many expats might consider getting a very similar foreign coin in their change nothing to write home about, but Spanish police and other European law and order forces are taking it seriously as there’s now a Europe-wide rise in reported cases. Rather than getting euro coins in their change, coins from other countries with a similar appearance are being regularly found by shoppers. Of course, the substitute coins are worth only a small fraction of one euro. Coins being used include the Jamaican 20 dollar coin, the Polish 5 zloty coin, the Turkish lira as well as the 50 kurus coin and the Venezuelan bolivar. All are remarkably similar to the one euro coin, making it easy to slip them into a handful of change.

Previously, the European Central Bank has sent out warnings about fake banknotes and how to detect them if you’re not familiar with the local currency. Paper euros should feel firm and crisp and have a raised area able to be felt along the left and right edges of each note. Also raised are the central image, the oversized value numeral and the lettering. Also visible to the naked eye should be the security thread, a dark line containing the € symbol as well as the note’s value. If the note is held up against a bright light, a shiny number located at the lower left-hand corner will change colour, with a hologram showing the symbol again as well as a window, the value of the note and a portrait of the goddess Europa.
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