You might scoff at the notion of complaining about counting money (and, especially during these hard economic times, with good reason). For banks and government agencies, however, counting money is a serious business. Not only is it obviously necessary to keep track of bills and coins, counting money serves another purpose: identifying fake bills and coins. Sadly, counterfeiting is a serious crime that affects Canada and practically every other country on Earth. Counterfeiting is said to be as old as money itself (it is colloquially referred to as “the world’s second oldest profession”) and it presents a significant problem to not only large banks and financial institutions but to everyday Canadians. Fake currency only damages Canada’s currency and its economy as well.
That is why currency counter machines are so important to those responsible for counting money. Before the invention of electronic bill and coin counter machines in 1980, money had to be counted by hand, in person. The job was tedious, nerveracking, and slow. In order to prevent human error, large sums of money was often counted two or three times. Anyone who’s had the task can tell you it was not nearly as fun as you would think.
Fortunately, now those people can do their jobs with ease. Currency machines come with high speed scanners that can immediately identify and sort bills and coins. They are 100% accurate and totally remove the risk of human error. More importantly perhaps, they can check for fake currency, making anti-counterfeiting measures considerably easier than they once were. Not to mention the fact that these machines save banks and organizations considerable time in counting.
There may never be a time in which counterfeiting is not an issue. However, with these machines and their high speed scanners, the fight against counterfeit currency is considerably stronger. For more information, feel free to leave a comment or question at the bottom.