Counterfeit Detection: Egyptian Notes with Altered Serial Numbers

Fancy Serial Numbers can add a numismatic premium to notes that otherwise would have little extra value. These include Low Serial Numbers, Solid Serial Numbers (where the serial number is all the same digit), and Repeater Serial Numbers (where the same sequence of numbers repeats). For example, at a Heritage Auctions sale in 2018, a lot of three PMG-certified Egypt 1940 (ND 1998-2002) 10 Piastres (Pick# 189b) with Low Serial Numbers realized $150.

Counterfeiters have easy access to unremarkable examples of modern notes like the Egypt 1940 (ND 1998-2002) 10 Piastres. Rather than create an entirely new fake, they can merely manipulate a small portion of a genuine note: the serial number. The note below purports to have a Serial Number 9.

However, upon careful inspection, this note has telltale signs of alteration. The purple design in the background has been disturbed in the area of the lower serial number, which is what would be expected if the ink associated with the original serial number were removed with a chemical. Additionally, the characters do not match those on a genuine example. In fact, their crude shape indicates they were added with a pen. This note’s forger clearly had a great deal of confidence in their abilities.

Another alteration can be seen on this Egypt 1955-56 25 Piastres (Pick# 28b). At first glance, the note appears to have a Repeater Serial Number of 911911. But let’s take a closer look.

Note that the second-to-last digit is not slanted at the same angle as the other 1’s. That is because part of the digit, a curve that extends from the top of the digit to the right, has been erased — though traces of it remain. This digit was originally an Arabic 2. (You can see unaltered instances of an Arabic 2 in the 25 denomination at the corners of this same note).

Finally, here’s an Egypt 1942-45 50 Pounds (Pick# 15c) that purports to be a Serial Number 6. This note was submitter through PMG's CrossOver service a few months ago (meaning our grading team examined it in the holder of another third-party grading service).

PMG determined the note was altered. In each of the serial numbers, the third-to-last-digit does not match the look of the other instances of 0, and the design of the note within the digit itself also appears to have disturbed. Sadly, this vintage note already had several hundred dollars’ worth of numismatic value without a fancy serial number.

The altered serial numbers Click images to enlarge.

Fancy serial numbers add excitement to paper money collecting, but only when they are genuine. Remember, PMG backs its determinations of authenticity and grade with the PMG Guarantee.