By Woodrow Polston
Last week the Mexico, Mo., Department of Public Safety informed the public that they had been receiving reports of large denomination counterfeit bills circulating in the Mexico area. They posted a warning to residents on social media to be on the lookout for the phony notes.
“The Mexico area has been receiving reports of counterfeit $100 bills being used. The perpetrators have tried to make the bills look aged by putting burn holes, etc. in them. These bills will pass the marker test, however, it is apparent that they are printed on regular paper. We are encouraging everyone and especially storekeepers, to be aware and vigilant about these counterfeit bills,” stated the post.
Storekeepers and anyone receiving counterfeit money are instructed to report suspected counterfeit currency to your local authorities. Law enforcement agencies, banks and cash processors will submit suspected counterfeit currency to the Secret Service. According to the U.S. Department of Treasury, an estimated $70 million in counterfeit bills are in circulation, or approximately one note in counterfeits for every 10,000 in genuine currency, with an upper bound of $200 million counterfeit, or one counterfeit per 4,000 genuine notes. According to a 2013 study, $20 bills are the most common counterfeit note in circulation. Coming in for second place is the $100 bill.