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Originally Posted by Tomkat
I've only ever seen one forged note in my life. Now it could be argued that I'd seen more, but they were so professionally done that I didn't realise.
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I'm not sure I've seen any, although quite a few people have refused notes from me, but I've usually spent them elsewhere. But I think British notes are supposed to be very hard to forge compared to even other countries in the developed world, and god knows about the third world.
OK, it would very quickly become pointless but presumably trying to reproduce a random Latin American peso is much easier and less risky than going for dollars* / Euros / sterlings or yen. The rate of conversion would be terrible, but you'd be able to get it back into "real money" eventually.
* Although I'm assuming here that it's only US Currency counterfitting the US Secret Service investigate in any real depth.
edit : As you imply, starting from a position where you assume you'll recognise a well forged note is probably dodgy. Until about 2 years ago I thought I had never seen an undercover cop, whereas upon thinking about it, that's nonsense.