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Friday 29 September 2023 Dublin: 10°C
An Garda Síochána Some of the counterfeit coins seized by Gardaí.
# counterfeit coins
Gardaí issue warning over fake €2 coins after seizure of counterfeit currency in Dublin
Coins with an apparent face value of €2,920 were seized last month.

GARDAÍ ARE URGING the public to be aware of the possible circulation of counterfeit €2 coins following the seizure of almost €3,000 worth of them in Dublin.

An investigation into the circulation of the counterfeit coins was undertaken by officers in Raheny and a number of searches were carried out as a result at the end of July.

During these searches, €2 coins with an apparent face value of €2,920 were seized.

The coins were subsequently examined and have been confirmed to be counterfeit currency.

Gardaí said it is the first large seizure of counterfeit coins in this jurisdiction.

As a result of the operation, one person was charged and brought before the courts and assets to the value €73,986.62 have been frozen in bank accounts.

People are advised to visit the Central Bank website for advice and information on counterfeit currency.

The website states that people can perform a visual inspection of suspect coins, possibly with a magnifying glass, to compare them with known genuine coins.

It states that a counterfeit coin will have poor quality image detail, a different coloured ring or core, missing edge lettering or incorrect spelling.

It could also be a different size, thickness, diameter or weight, while some counterfeit coins also bend, according to the website.

A garda spokesperson said that genuine €2 and €1 coins are slightly magnetic.

“Using a magnet, you should be able to lift the coin up, but with the weight of the coin and the slight magnetism you should be able to shake the coin off the magnet with ease,” the spokesperson said.

“Most counterfeit €2 and €1 coins are either very magnetic, non-magnetic, or just the ring is magnetic due to the materials used.

“Genuine 50 cent coins are non-magnetic. You could also compare the suspect note or coin with a known genuine specimen.”

Anyone who suspects that they have a counterfeit coin or note can take it to a local bank, garda station, or the Central Bank’s National Analysis Centre (NAC) or Coin National Analysis Centre (CNAC).

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