Chapter 14.3, Problem 5R

To determine

To evaluate the process of money that is coined and printed to prevent counterfeiting.

Explanation of Solution

Mint manufactures coins using thin aluminium roll-up sheets in the United States. A metal roll is swallowed in a machine that cuts discs of any size of coin created at that time. These metal discs are called blanks and are used for the creation of coins. After the blanks are removed, they are cleaned and polished. If the discs are going to make proof of money, they'll get some extra care and polishing. Throughout this stage of coin production, the discs are now called planchets. They can now be turned into coins.

The Bank provides a range of services, such as free training materials, to help clients, companies and the police make use of bank security features in genuine bank notes in order to prevent counterfeiting. If anyone knows the notes then, at a glance, they may detect a falsification and protect themselves against fraud.

Economics Concept Introduction

Introduction: Counterfeit money is a counterfeit currency created without the legal approval of the Government, Typically at a deliberate try to mimic the currency and deceive its recipient. The creation or use of counterfeit money is one form of fraud or falsification.