Tuesday, September 18, 2012

What to Consider Before Purchasing Currency Handling Products

Coin and currency handling products help save time, increase counting accuracy and improve loss prevention. They are a key component of daily operations for many businesses including banks, credit unions, casinos, vending operators, amusement operators, retail stores, restaurants and more. To be sure that you purchase the right coin and currency handling product for your business, we recommend you ask yourself these three simple questions first: 

1. What do you want to count? 

You will need to take into account that most bill or currency counters are designed to work with U.S. currency. Although many bill counters can count currency from other countries, the counterfeit security features may not work. You will want to investigate what security features your country uses before purchasing a bill counter. 

Coin counters are also designed to work with U.S. currency. Coin counters are not built with any counterfeit detection hardware. 

2.  How often will you need to count money? 

Different currency counters are built with different counting speeds. If you are counting money often, you may want to purchase a bill counter with a large duty cycle and counting speed. Purchasing more than one currency counter will help you count money even faster. 

3. How much security do I need? 

Counterfeit money is a growing problem. If you feel that you may be subject to counterfeit money now or in the future, you may want to purchase a currency counter that has built-in counterfeit detection. Counterfeit detection will let you know if the money you are counting is legitimate. Different currency counters are available with different grades of counterfeit detection.

Next, you will want to consider is what type of counterfeit detection you will need. You can choose from two different types:

1. Ultra Violet Light Detector 

Currency created by a color copier or printer produces an image that rests on the surface of paper that can easily be seen when UV light is placed over it. Tiny particles of toner outside the image can also be easily seen with a UV light. Bill counters and counterfeit detectors have a UV light built into the machine. If a counterfeit bill is run through the machine, an alarm or light will alert you that the banknote is counterfeit. 

2. Magnetic Detection or MG detection 

U.S. banknotes are made with magnetic components. Several foreign currencies and travelers checks are also made with magnetic components. MG detectors are capable of detecting the magnetic components in money. When a detector does not find the presence of the magnetic components, an alarm or light will sound letting you know the money is counterfeit.

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