Gardai issue warning to the public about counterfeit €2 coins in circulation

Following an investigation, Gardai in Raheny carried out a number of searches at the end of July 2022.

During the searches, they seized €2 coins with an apparent face value of €2,920.

As a result, one person was charged and bought before the courts, and assets belonging to the suspect with a value of almost €74,000 has been frozen in bank accounts.

Gardai have advised the public on how to check if a coin is counterfeit.

To examine suspect coins, Gardai advises using the following techniques:

• Visual inspection (possibly with a magnifying glass).
• As compared with a known genuine coin, the suspect coin will have:
• Poor quality image detail.
• Different colour ring and/or core.
• Edge lettering missing, incorrect spelling or font (using similar country coin).
• Different sizes.
• Thickness, diameter.
• Different-sized ring or core.
• Different weight.

They have also said that some counterfeit coins bend. While genuine €1 and €2 coins are slightly magnetic.

“Using a magnet you should be able to lift the coin up, but with the weight of the coin and the slight magnetism you should be able to shake the coin off the magnet with ease,” a Garda spokesperson said.

“Most counterfeit €2 and €1 coins are either very magnetic, non-magnetic, or just the ring is magnetic due to the materials used.”

“Genuine 50 cent coins are non-magnetic.”

“You could also compare the suspect note or coin with a known genuine specimen.”

They added that if you believe you are in possession of counterfeit currency you are “obliged to submit it to your local financial institution, the Gardaí, or the Central Bank’s National Analysis Centre (NAC) or Coin National Analysis Centre (CNAC).”