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  #81  
Old 30.04.2019, 14:31
John_H
 
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Re: Do you still love cash?

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People are frightened of big notes, worried that they may be forgeries.


Nobody forges large notes as everybody looks at the, but when you start to look at Chf 50.-- notes or €20.-- or GBP 10.-- there you see a lot of forgeries......Nobody ever looks at this size note !
It's a culture thing for sure too.. or familiarity or whatever ..
I changed a 1000chf note into those same EUR notes in a post office here and i swear the guy didn't even give it a second glance, he just swept it into the drawer with the others.
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  #82  
Old 30.04.2019, 14:31
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Re: Do you still love cash?

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Does that statistic refer to forgeries that were discovered (and presumably thus removed from circulation), or is it a quantiative estimate of overall forgeries believed to probably still be in circulation.
It's what they caught (and got reported to the federal level).

Sooner or later most currency will be handed over to a bank, which will catch (almost) all forgeries. So over time the numbers of caught forgeries are probably pretty close to all forgeries in circulation. This applies to Swiss bills in particular as they will be taken out of circulation 20-30 years after introduction. The Euro may be the exception to that rule as those bills may mostly go directly back to Euroland.

My personal experience confirms the virtual inexistence of forgeries. At one of my former jobs I was directly involved with cash handling and paying the money into the bank account for about three years, annual total was 1-1.5mln. We had zero forgeries.
Quote:
Nobody forges large notes as everybody looks at the, but when you start to look at Chf 50.-- notes or €20.-- or GBP 10.-- there you see a lot of forgeries......Nobody ever looks at this size note !
Actually, 40% of the forged amount was in CHF 1k bills, 90% of the forged USD were in $100 bills.

Last edited by Urs Max; 30.04.2019 at 16:51. Reason: Removed remark about the right column
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  #83  
Old 30.04.2019, 15:29
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Re: Do you still love cash?

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Do they have smaller notes?

Apparantly so, but i never seen one so for time being it's heresay.
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  #84  
Old 03.05.2019, 14:00
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Re: Do you still love cash?

From the Daily Telegraph......


HMRC boasts its “award-winning” computer system contains more than 22 billion lines of data, equivalent to a pile of A4 paper 158 miles high – 28 times the height of Mount Everest.


“It can help HMRC staff find anomalies between such things as bank interest, property income and other lifestyle indicators and tax liabilities. HMRC can then build a profile for people and businesses who look like they are failing to pay the right amount of tax.”




https://www.telegraph.co.uk/tax/news...investigation/


Now you still wonder why i like cash..........?
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