Forex trading has a wide coverage as it involves dealing with various currencies either in cash,crypto currency or other financial instruments. Due to the varied nature of this trade, it is a must for a trader to be knowledgeable in almost all the concerns of the field. This of course includes familiarity or expertise on the essential features of a bank note. Today’s article is geared on the disclosure of some interesting facts that will help not just traders but everyone to distinguish a counterfeit to legit dollar bill.
Why a dollar bill?
The US dollar is believed to be one of the strongest currencies around the world. Despite the known foreign debts and economic issues in the US, said currency still holds the title as world currency. Come to look at the world market, oil exporting countries would peg their oil prices in dollars. Instead of gold, most countries would have dollar reserves to secure their economic status. Due to the dollar’s important role in the world economy, it is also a prone instrument for money laundering and counterfeit. To help lessen the occurence of these crimes, proper education and identification of a real dollar bill vs the counterfeit is important.
5 Security Features of the Dollar Bill
1. Magic Ink
For most dollar bills that are above $5, you could see an ink with shifting color when tilted back and forth. This is usually evident in the numerals found in the lower right-hand corner of the bill. This magic ink usually changes from green to black or from gold to green.
- Watermarks
This is a common feature in almost all legit banknotes around the world. In the case of dollars, its watermark is only visible when held up in a light or UV light bill detector. Make sure that the watermark is found on the right side of the bill and if it is a face, it should be exactly the same as the printed face on the bill.
- Borders and Texts
Check if the texts create fine lines and are extremely detailed. Locate for the microprints as they are visible either with or without magnifying lense.
- Embossed Prints
This is one of the features which is difficult to copy. Legit banknotes usually have raised prints. So when checking for legitimacy, try to feel the text or even the whole bill. You should be able to feel a vibration that comes from the ridges of the embossed prints.
- Security Thread
Have you ever seen a thin film or strip that is embedded along the bill’s face? That is the security thread. In some bills, this thread is located either on the right or left of the portrait. You should be able to easily spot this feature because it also has micro printed phrases that indicate the bill amount.
Conclusion:
With the 5 Security features that we have disclosed in the article, forex trading fanatics will surely find it helpful to master spotting these features everytime they receive cash out their transactions.
