A currency counting machine is a technological device used in the counting and sorting of bank notes. It was first used in China, in 1958.
In Nigeria, Counting Machines are also very popular in recent times, especially at Banks and Retail stores. These machines over the years have helped businesses in faster and accurate processing of Bank notes.
Besides sorting and bundling of Bank notes, one of the important benefits of a counting machine is that it helps in detection of fake currency notes.
While most modern Currency Counting machines generally have capacity to detect fake currency notes, for a Note counting machine to be able to detect fake currency, it has to be configured with a fake currency detector.
The following are the Mechanisms used in the detection of fake currency by Note Counting Machines
Currency counting machines have been configured to determine fake notes with the 5 most common methods of counterfeit detection available today. These Includes: Magnetic, Ultraviolet, Watermark, Ink, and Visual.
- Magnetic (MG): A Counterfeit Detector with Magnetic Detection uses the magnetic ink used in strategic areas of currency notes to detect fake currency.
- Ultraviolet (UV): Banknotes have ultraviolet strip that’s placed in different areas of the currency, based on the value of the denomination. The location of this strip will let you know the value of the note. This method of counterfeit detection works really well in identifying currency notes that have been bleached and re-printed with other denominations.
- Watermark (WM): Currencies have a watermark built into it. The watermark is usually the face of the individual or item printed on the note. Using light mechanism, this watermark can be viewed and authenticity of the currency can be verified.
- Ink – Bank Notes make use of special ink which can be easily identified.
- Visual – There are many visual elements found in currency notes that can be seen by the naked eye or with a magnifying glass or machine.
Currency machines use a combination of the above to differentiate between rogue currencies and real currency notes.