2016-03-05 Sat

Dons and criminals have always eyed swiss currency, be it notes or coins. Apart from 1,000-franc bills, now even 5-franc coins have gone under the scanner due to counterfeiting and criminal activities.

In 2014, 14,000 forged 5-franc pieces were removed from circulation. Last year the toll was 7,600 as per official statistics. Swissmint Managing Director Marius Haldimann stated that most fakes come from Italy and believes that considering the material costs, one really need organized crime to produce them. A group of Italians were caught with 5,000 fake 5-franc pieces at the border. While some fakes are of high quality, others are easily detected.

Just 1 in a thousand 5-franc coins turn out not to be legitimate due to the alloy used, the high-quality workmanship, and the design, which includes security features. Officials state that population growth, an increase in tourism, special events like the Euro 2008 soccer championship, beer and a bratwurst in pricey Switzerland, have all led to the increase in demand for these high denomination coins, leading to more counterfeiting.