Governments have historically used counterfeiting for economic warfare

The US dollar is the most popular note to counterfeit

Counterfeit operations are often controlled by rogue governments, drug cartels, and more. These organized crime rings often sell counterfeit bills wholesale, for anywhere between 40 and 70 cents per dollar.

The Secret Service was originally formed to combat counterfeiting

By the 1860s, an estimated one-third of US currency in circulation was counterfeit. In 1865, the Secret Service was created specifically to combat the country's serious counterfeiting problem, which had led to widespread financial instability. This was partly due to the lack of federal currency standardization in the country at the time.

Thomas and Anne Rogers were famous counterfeiters in 17th-century England

The pair used a practice called “coin clipping,” shaving the edges off silver coins to decrease their weight before sending them back into circulation. When banknotes rather than coins gained popularity, counterfeiting methods evolved—in the 1700s, an early banknote counterfeiter named Mary Butterworth created counterfeit paper money using starched cloth and a hot iron to transfer the pattern of a banknote onto paper.

Today, in the US, people can face years in prison for counterfeiting money

There are both federal and state laws that punish people who use or create counterfeit money. The crime can not only trigger hefty fines, but could also lead to decades behind bars.

A mysterious man named Emmerich Juettner once produced thousands of counterfeit $1 bills

After his wife died in 1937, Juettner fell into financial trouble and soon began replicating $1 bills. These bills aren’t typically prime targets for counterfeiting given their low value.

Colonial Americans used tobacco, wampum, and land-backed notes to solve a chronic coin shortage

British coins rarely circulated in the colonies due to an unfavorable trade balance, forcing colonists to improvise. They traded in Spanish dollars, Native American shells, tobacco warehouse receipts, and eventually paper money backed by land rather than gold.

There have been many versions of US banknotes throughout history

From the Civil War to the present day, the US has gone through many, many versions of paper money (or “notes”). Some notes, like “demand notes,” were created to finance the Civil War. Others, like “treasury notes,” helped pay for silver.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

Some coin denominations have ridges on their sides in part to prevent counterfeiting

You may have noticed that dimes and quarters feature small ridges on their sides that other coins, like pennies and nickels, don't have. This video can help you learn more about why the practice, called "reeding," was first started—and why it's still used today.

A company called Bluprynt is combating counterfeit cryptocurrency

While some cryptocurrency advocates might argue that it's more difficult to counterfeit crypto than physical currency, some estimate that fake cryptocurrencies are losing crypto users at least $1.6B each year.

Pre-coin currencies like shells were subject to counterfeiting

While it is difficult to pinpoint the very earliest form of money that was used, a type of shell called cowrie shells were used as currency as far back as 3300–2000 BCE. These shells were imitated using ivory, bone, clam shells and more.

Central banking in the US has had a fraught political history

That history includes its doomed early efforts in the First and Second National Banks, as well as its failure to address the worst financial period in US history, the Great Depression.

Minting a coin that can pay off the federal debt has been proposed as a quick fix to rampant borrowing

It’s uncertain how financial markets would react to such a large cash injection. Some economists warn it could trigger massive inflation. Others say the nation needs a clean slate.

The highest inflation in US history was estimated at 30% in 1778

This was just after the Revolutionary War. Both World Wars also brought double-digit inflation. It's worth noting that exact inflation rates in early America are difficult to calculate precisely.

A gold standard is a system where every dollar in circulation can be exchanged for a set amount of gold

For centuries, the things people used as money had intrinsic value, such as precious metals like gold. In medieval Italy, giant wheels of parmesan cheese were once used as a store of value.

The failures of the interwar period made the case for a new international system

After World War I, countries devalued their currencies, raised tariffs to block imports, and seized territory unchecked, with the international community unable to organize effectively to stop them. The result was a global depression and, eventually, another world war.

AI could be increasing the opportunities for financial fraud

Systems that can reproduce near perfect counterfeits of legitimate financial documents are increasingly prevalent and sophisticated. The international Association of Certified Fraud Examiners estimate organizations lose about 5% of revenue to fraud each year.

Switzerland's currency is so strong that it could cause deflation

Economic instability in the United States in 2025 strongly benefited Switzerland, where the value of the franc relative to the dollar increased by about 12.7%. In response, the price of imports dramatically decreased, making goods overall much cheaper.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

Comic books were used as a form of government propaganda in World War II

The government recognized that comic books were widely read by servicemen (with nearly half deeming themselves regular readers) and by people around the world, making it a perfect vehicle for its antifascist, pro-American message. In addition, the medium was rather crude, allowing for what historian Paul Hirsch called "incredibly aggressive propaganda."

A 1912 congressional bill attempted to prohibit fake photos in the US

In the 1800s, photographs were held up as indisputable resources of truth. But the photography industry devised ways to alter photos, resulting in the rise of fraudulent photos—from shots with celebrities to the turn-of-the-century version of fake nudes—prompting government intervention.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Why did the US make it illegal to sell sliced bread during WWII?

Pre-sliced bread has only been with us for almost 100 years, but during the course of World War II it was briefly banned to save on supplies like wax paper and stainless steel for the war effort. This Atlas Obscura article explores this amusing (though not at the time) bit of food during wartime history.

The Bretton Woods economic order was built on Keynesian principles

Keynesian economics suggests that governments should actively manage economies to prevent downturns, promote employment, and regulate markets. The Bretton Woods institutions were created based on this belief that coordinated public intervention could prevent the economic crises of the 1930s.

The WWII passport forgers who saved thousands of Jewish lives

Amid the chaos of Hitler's authoritarian Europe in World War II, Polish diplomats based in Switzerland used the classic toolkit of thieves to help free thousands of Jews: they perfected the art of forgery, faking passports secretly donated by sympathetic Latin American countries. Read the incredible tale of heroism here.

The “Phoney War” was an eight‑month build-up to war

From September 1939 to May 1940, following their war declaration on Germany, Britain and France entered a phase of military inaction—even as civil defence measures, naval blockades, and rationing intensified at home. Skirmishes were limited, but the decisive fighting didn't begin until Germany invaded Norway and France in April–May 1940, abruptly ending the uneasy stalemate.

Anti-money laundering laws forcing banks to report data have become important foreign policy tools

Since the Bank Secrecy Act of 1970, which required banks to report transactions exceeding $10K and keep records on customers, anti-money laundering laws have become an important proxy for American foreign policy initiatives. Increased regulation via financial institutions helps curb drug and human trafficking, as well as destabilize the financial infrastructure for terrorist organizations.

Governments are now using generative AI to manipulate public opinion

A Freedom House report found that AI-powered disinformation campaigns and censorship tactics are spreading, with 16 countries utilizing the technology to shape online narratives or suppress dissent, as of 2023. In Venezuela, deepfake software was used to push pro-government propaganda with fake news anchors.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

The original copy of the Declaration of Independence is not a pristine document, and even features a smudged anonymous handprint in the bottom left corner.

After the Boston Tea Party, colonists switched to coffee, which became the main morning drink for revolutionaries.

Mark Twain spent decades feuding with the US Postal Service, convinced its costs and regulations were bureaucratic overreach.

The power and influence of the American presidency have expanded significantly over time—far beyond what the founders envisioned.

US intelligence allegedly pursued more than 600 schemes to assassinate Cuban revolutionary Fidel Castro.

The history of many kitchen appliances involves unexpected discoveries and applications, including wartime radar turned hamster defroster and replacing an 'ice king' with heat-stealing boxes.

Stanford built a Google Maps for the Roman Empire, revealing how much it cost to travel in the ancient world

Elk Cloner, the first computer virus to spread in public, was written as a practical joke by Richard Skrenta, a Pittsburgh high school student.

Discover the catastrophic consequences of a failure of the US electrical grid—something that is more likely than many Americans think.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

During the French Revolution, a botanist's letter asking about "dear Rhus" (poison ivy) was intercepted, leading authorities to suspect he was conspiring with the Russians.

In 1984, Operation Smash Hit intentionally crashed a 239-ton train into a nuclear waste canister at 100 miles per hour to prove the canister's safety, which remained completely intact and lost just 0.29 of its 100 pounds of pressure.

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

Volcanic activity may have triggered the Black Death by spewing gases that led to crop failures in Europe, thus forcing the import of grain ships with plague-infested fleas.

Hookworm infection, though risky, may help fight certain autoimmune conditions by tamping down the immune system's inflammatory response.

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

The term 'algorithm' originated from the Latinized name of al-Khwārizmī, a 9th-century mathematician whose works introduced Arabic numerals and the decimal-based numeral system to Europe and whose treatise 'Al-Jabr' gave algebra its name.

The concept of phantom limbs, the perception that amputated limbs are still present, dates back to a French military surgeon in the 16th century.

Artificial coral reefs have been 3D printed from nontoxic, biodegradable terracotta clay, which coral polyps have used as a foundation for rebuilding marine ecosystems.

Play the role of a student in a game where you try to navigate college and remain debt-free, selecting different income levels, high school experience, race, ethnicity, and more.

According to the physics of black holes, our 4D reality may be a hologram—a projection of information coded on a 2D surface on the edge of the universe.