Yesterday, China newspaper, Southern Metropolis Daily reported about Fake "gold" 100 yuan sold as gifts for Lunar New Year seized by Chinese authority.
The fake banknotes, made of plastic, were seized from at least four jewellery stores in Shenzhen, China. The bogus bills were discovered during a spot check by local government officials on Tuesday. The report did not say how much was seized.
The notes, which were being advertised as gifts for the Lunar New Year, came with documents certifying that the bills had the government’s stamp of quality approval and that their gold content was of extremely high purity of 999 parts per 1,000. But a close check showed that they were in fact made of polyurethane plastic.
It is not uncommon for counterfeit renminbi products to be sold on the mainland, though the production and sale of replica banknotes is illegal in China. Permits from the central bank, the People’s Bank of China, are required before any renminbi-related products can be produced and sold.
Anyone who breaks the law can be given an official warning, fined up to three times the amount earned from the sale of the goods, and also have the products confiscated.
Distributors were quoted as saying that the product had gained popularity from the start of the year and that they bought them from manufacturers for 2 yuan per note. The report did not say how much the bills were being sold for.
Source: SCMP.com
In 2014, Bank Negara Malaysia issued a statement that the Malaysia Gold Foil banknotes are prohibited under the Central Bank of Malaysia Act 1958. This is due to the sale of the various denomination (especially RM100) of the Ringgit Malaysia notes gold by public.
Is there a possibility that those gold foil Malaysia Ringgit banknotes are made of plastic too?
Nowadays, I still can see people selling a complete set of Malaysia gold foil banknotes in Facebook and Mudah.my. Good luck to their buyers.
