Recent reports that counterfeit 5 franc coins are in circulation has caused consternation among traders and the general public according to a report in GHI, the Geneva newspaper.
The standard of counterfeiting is very high and casual users may easily be caught out. The report claims that traders and citizens are reluctant to use or accept 5 franc pieces for fear of being given a fake.
Trafficking in counterfeit 5 franc coins was first uncovered in mid-July in Geneva and Vaud. The Swiss National Bank does not replace fakes with genuine currency. This means that if you mistakenly accept a fake then realise your error you will have lost your money when you hand it in to the authorities. However, trying to palm it off to an innocent third party is a serious crime. Therefore it is advisable to report the fraud to the police and take the loss. And to minimise your risk, don’t accept change or payment for large amounts in 5 franc coins.