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I somewhat agree. I think the Gov should have to be able to prove that you were passing funny money with knowledge of it being that. In this case I think they do have that evidence since he tried twice.
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If you ever go to a police museum, you will see some REALLY crappy quality counterfeit (some of which had actually been passed).
On the other hand, there is a series of British 5 Pound notes that is both:
- counterfeit; and
- trading at more than face value.
They were hand drawn and of such good quality that even the Bank of England wasn't sure if they were fake or not.