Counterfeit Detector Flagged Genuine Bills, Leaving Cashier Baffled

A recent incident in Shaanxi province, China, highlights a potential pitfall in the transition to newer currency iterations and the hardware used to process them. A local coffee shop found itself facing a puzzling situation when its banknote counter repeatedly flagged a significant number of one-yuan bills as counterfeit.

According to the store’s employees, out of approximately 100 one-yuan notes collected, more than 50 were consistently rejected by the machine, displaying an error indicative of fake currency. This predicament arose primarily due to the popularity of two-yuan ice cream cones among children, who often paid with exact change during the summer months. This resulted in an accumulation of small denomination bills.

Seeking clarification, the shop staff took the suspected counterfeit bills to a local bank for verification. To their surprise, the bank confirmed that all the one-yuan notes were in fact genuine.

The People’s Bank of China (PBOC) introduced the latest version of its currency, the fifth series of Renminbi, in 2019. This included banknotes of 50, 20, 10, and 1 yuan denominations, alongside 1 yuan, 5 jiao, and 1 jiao coins.

The 2019 edition retained the core design, dimensions, and color schemes of the 1999 series, but incorporated subtle enhancements to improve overall security and anti-counterfeiting features. These upgrades included refinements to the optical variable ink, security threads, and micro-printing, designed to be more easily authenticated by both humans and machines.

The focus then shifted to the “Deli” branded banknote counter used by the coffee shop.

A Deli customer service representative explained that some of their older banknote counters require a software update to accurately recognize the 2019 series of Renminbi. Specifically, machines manufactured between November 1, 2017, and September 15, 2020, are potentially affected. Users can visit the Deli website, locate the model number on the back of their device, and download the corresponding software patch for self-installation.

This incident underscores the challenges businesses face in adapting to updated currency standards. While the PBOC aims to improve security with each iteration, the transition requires manufacturers of cash-handling equipment to keep pace with the changes. The situation also highlights the importance of consumers and businesses verifying the authenticity of currency through multiple methods, not relying solely on a single piece of technology. The incident serves as a reminder of the ongoing interplay between technological advancements and the evolving landscape of currency security.