Euro Counterfeit Banknotes Increased in Second Half of 2007

by CoinNews.net on January 20, 2008 · 1 comment

Examples of euro banknotesThe European Central Bank (ECB) reported an increase in counterfeit activity for the second half of 2007. 296,000 fake banknotes were removed from circulation for an increase of 31,000 notes over the first six months of 2007.

The ECB noted counterfeiting was also up in the second half of 2007 compared to the second half of 2006. However, they went on to say:

 

… it is still within the bounds of the pattern established over the last few years …

 

Based on previous year totals provided by the ECB, 2007 counterfeited notes withdrawn from circulation actually decreased compared to previous years.

Counterfeit Euro Banknotes by Year

Year
2004
2005
2006
2007
Counterfeit Banknotes
594,000
579,000
565,000
561,000

 

For the second half of 2007, the €50 was the most counterfeited banknote followed by the €20 and €100. The other denominations accounted for only 12.5% of the total.

Counterfeited Banknotes by Denomination

 
€5
€5
€20
€50
€100
€200
€500
Denomination (%)
0.5
2.5
27.5
38
22
9
0.5

 

All but 4% of the recovered banknotes were in euro area countries. While the reported fake notes seem high, compared to ECB figures showing euro notes in circulation, the numbers are placed into perspective.

Euro Banknotes Circulating since Nov. 30, 2007

Denomination Circulation
(in millions of banknotes) (€ millions)
€500 446 222,978
€200 155 31,021
€100 1,162 116,167
€50 4,113 205,663
€20 2,256 45,121
€10 1,800 17,999
€5 1,342 6,708
TOTAL 11,274 645,657

About the European Central Bank

The ECB is the central bank for Europe’s single currency, the euro. 15 European Union countries have introduced the euro since 1999.

{ 1 comment… read it below or add one }

Koichi Ito January 21, 2008 at 3:45 am

Very Hard counterfeit Euro Banknotes. I advise anyone who want to do counterfeiting any currency. Best currency to do counterfeiting is U.S. Dollar Bills. The U.S. Dollar Bills universery being counterfeited. So U.S. Government is too corrupt to deal with Counterfeiting, so it is much safer to do it!

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