In 2022, more than 376,000 counterfeit banknotes were withdrawn from circulation. Even so, the probability of receiving a counterfeit banknote is remote, since its number is still very low compared to the number of genuine euro banknotes in circulation.

According to data from the Bank of Spain, in the past year thirteen counterfeit banknotes were detected for every million authentic banknotes in circulation. It was the second lowest level historically since the introduction of euro banknotes in 2002.

In the case of coins, it is also a good tool for scammers. Specifically, in 2022, 26,175 counterfeit coins were detected for a value of 49,472 euros. However, the probability of finding one is almost minimal: only 6 coins are false for every million in circulation.

The two-euro coin, with 23,838 seized units, was the most counterfeited in recent years. However, the peak of counterfeiting in recent years was reached in 2018, with 49,473 counterfeit coins detected, almost double that of the last year.

The Bank of Spain’s banking customer portal publishes some recommendations to identify counterfeit coins. These are the tips suggested by the financial institution, grouped in the 5-step rule, to detect a counterfeit euro coin.

The first step is to make sure that the euro coins are not from a non-Eurosystem country. For this, it is convenient to know that the coins have two sides, the national side and the common side.

In the latter is the number of the value of the coin, the map and the word Euro or Euro Cent. However, both the year the coin was minted and the image that identifies the issuing country appear on the national side. In addition, on the outside of the coin these engravings will be surrounded by the 12 stars of the European flag.

This second step consists of picking up the coin and rotating it, which has to result in a vertical alignment of the recorded images, known as ‘coin rotation’.

This cheat refers to the layout of the map. And it is that, from 2007, the coins were minted with the entire map of the European continent, and not only with the countries belonging to the Eurosystem. So, in the coins that were minted as of this year, the entire map of Europe would have to be found.

The true 1 and 2 euro coins are magnetic only in the center. However, those of low denomination, that is, those of 1, 2 and 5 cents, are very magnetic. For their part, those of 10, 20 and 50 cents, those of medium denomination, are not magnetic at all.

Finally, it must be taken into account that the one and two euro coins will have the map of Europe engraved with a rough touch. The exceptional minting quality of the euro coins means that the definition of the engravings does not disappear despite a lot of use.

According to the criteria of The Trust Project