2 ms·

Is it possible that he might have spent almost $1 in materials and labor and allocated capital expenses on equipment ... to create each of these counterfeits.

Is it possible that he might have spent almost $1 in materials and labor and allocated capital expenses on equipment ... to create each of these counterfeits. Attempting this today would probably surely cost that much in today's dollars? EDIT: on a second thought ..this almost feels like "proof of work" for currency :)

selcuka 5mo ago
The U.S. government spends approximately 4.1 cents [1] to produce each $1 bill. It would probably be more expensive to counterfeit it because of the volume, but I doubt it would be more than $1. [1] https://www.federalreserve.gov/faqs/currency_12771.htm https://www.federalreserve.gov/faqs/currency_12771.htm
dgacmu 5mo ago
The US penny and nickel are the only bits of currency we use that cost more to produce than their face value.
- albert_e 5mo ago
  I meant the cost of counterfeiting If I hypothetically set out to create a single fake one dollar bill that can pass for real ... i would have to spend a lot more than one dollar on the materials ro pull it off, surely?
  - bananamogul 5mo ago
    Now let's take that up a notch with the story of Francis Henning, who counterfeited nickels. https://coinweek.com/a-collectible-counterfeit-the-story-of-henning-nickels/ https://coinweek.com/a-collectible-counterfeit-the-story-of-... Granted, a nickel was worth more in the 1930s...but not that much more. It's illegal to own these counterfeit nickels because it's illegal to own any counterfeit currency, but they pop up from time to time in collector circles. I don't think the Secret Service cares at this point.
    - c22 5mo ago
      It's not illegal to own fake currency. It's only illegal to possess with intent to defraud: https://www.law.cornell.edu/uscode/text/18/472 https://www.law.cornell.edu/uscode/text/18/472
  - c22 5mo ago
    Probably, but if you want to make a second one you'll have all the stuff right there still.

selcuka 5mo ago

The U.S. government spends approximately 4.1 cents [1] to produce each $1 bill. It would probably be more expensive to counterfeit it because of the volume, but I doubt it would be more than $1. [1] https://www.federalreserve.gov/faqs/currency_12771.htm https://www.federalreserve.gov/faqs/currency_12771.htm

dgacmu 5mo ago

The US penny and nickel are the only bits of currency we use that cost more to produce than their face value.

albert_e 5mo ago
I meant the cost of counterfeiting If I hypothetically set out to create a single fake one dollar bill that can pass for real ... i would have to spend a lot more than one dollar on the materials ro pull it off, surely?
- bananamogul 5mo ago
  Now let's take that up a notch with the story of Francis Henning, who counterfeited nickels. https://coinweek.com/a-collectible-counterfeit-the-story-of-henning-nickels/ https://coinweek.com/a-collectible-counterfeit-the-story-of-... Granted, a nickel was worth more in the 1930s...but not that much more. It's illegal to own these counterfeit nickels because it's illegal to own any counterfeit currency, but they pop up from time to time in collector circles. I don't think the Secret Service cares at this point.
  - c22 5mo ago
    It's not illegal to own fake currency. It's only illegal to possess with intent to defraud: https://www.law.cornell.edu/uscode/text/18/472 https://www.law.cornell.edu/uscode/text/18/472
- c22 5mo ago
  Probably, but if you want to make a second one you'll have all the stuff right there still.