Bank of Mexico issues instructions to detect counterfeit 10-peso bills
During the first quarter of 2025, coin counterfeiting continues to pose a challenge for Mexican authorities, particularly in the case of 10-peso coins. According to the Bank of Mexico (Banxico), 64 counterfeit coins were identified and removed from the market in the first three months of the year, thanks to established detection protocols.
READ: Uber: What are robotaxis and where do they operate? Why are counterfeit coins concentrated in 10-peso coins?Banxico reported that all counterfeit coins detected during this period corresponded to the value of 10 pesos, due to its high circulation and a design that, although complex, can be replicated using certain methods. The most common techniques used by counterfeiters are:
- Casting (33 cases): This involves melting metal and pouring it into molds to form the coin. Imitations obtained by this method often have an uneven or soapy surface.
- Stamping (31 cases): Tools are used to cut and stamp the metal, resulting in coins with poorly defined or defective edges.
Banxico recommends a three-stage inspection to identify potential counterfeits: by touch, by sight, and by comparison with a legitimate coin.
1.- Tactile evaluationConnection between the ring and the center: In bimetallic coins, it should feel firm; if it moves or separates to the touch, it is a warning sign.
- Edge: Should be smooth or have well-defined grooves. If it has burrs or a rough texture, it could be apocryphal.
- Overall texture: Genuine coins feel solid and smooth to the touch. Counterfeit coins may appear slippery or porous.
- Color: Genuine coins are not painted or coated. Changes in color or staining could indicate a counterfeit.
- Security features: Only some 20-peso coins (family C1) have a latent image and microtext. Check with a magnifying glass if you have any questions.
- Wear: Natural use causes coins to wear unevenly. If the entire surface appears new, but the details are poorly defined, there's reason to be suspicious.
Place the suspect coin next to an original and compare the weight, size, and thickness. Differences in these measurements can confirm that it's a counterfeit.
What to do if you receive a coin that looks counterfeit?If you detect a suspicious coin, do not put it into circulation, since doing so constitutes a federal crime, with penalties of up to 12 years in prison. Instead, follow these steps:
- Go to any banking institution.
- They are required to retain the coin and provide you with a Receipt for Retention of Presumed Counterfeit Coin.
- Waiting for the official evaluation from Banxico.
- The central bank has up to 10 business days to determine whether the currency is legitimate or not.
- Refund or destruction: If the coin is authentic, you will receive a refund. Otherwise, the coin will be destroyed.
Detecting counterfeit 10-peso coins is possible if the recommendations issued by the Bank of Mexico are followed. Adopting a vigilant attitude when receiving cash not only protects your personal finances, but also contributes to the fight against this crime that undermines confidence in the monetary system.
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