Ireland’s national police service has seized nearly $4,000 worth of counterfeit €2 coins following what it described as a large-scale investigation.
An Garda Síochána, known in Ireland as “the Guards,” took part in a joint investigation with the Central Bank of Ireland this summer before announcing the arrest and charge of one unnamed person in August.
Following reports of suspicious €2 coins circulating in a Dublin suburb, police uncovered 1,460 fakes with an estimated face value of €2,920 (about $3,850 Cdn.).
“Compared to a genuine coin, there will be poor image detail, different in the colour and the core,” police inspector Sean Earley told the Irish publication the Independent this August. “The edging will be slightly different, there will be incorrect spelling and font, the size of the coin will differ and difference in thickness and diameter.” Police also froze €73,986.62 (nearly $97,400 Cdn.) in bank assets tied to the unnamed perpetrator.
According to the Central Bank of Ireland, anyone in possession of a suspected counterfeit coin must submit it to the bank, a local financial institution or the national police service.
Earlier this year, the Royal Canadian Mounted Police charged a man after identifying and seizing about 10,000 counterfeit $2 circulation coins as part of a months-long investigation (“Ontario man faces charges for ‘Camel Toe ’counterfeits,” CCN Vol. 60 #5, June 7, 2022).
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Irish police have seized a significant quantity of fake €2 coins, highlighting the ongoing issue of counterfeiting in the currency market. This operation underscores the importance of vigilance among consumers and businesses alike, as counterfeit coins can disrupt local economies and undermine trust in the currency. Authorities are likely to continue their efforts to combat this problem, ensuring that genuine currency remains in circulation and protecting the integrity of Ireland’s monetary system.