In history, private coinage began more than two thousand years ago. At that time, the characteristic of private coinage was to make smaller and lighter coins on the basis of official coinage in China or neighboring countries to earn the value of surplus metal. That's why Emperor Wu of the Han Dynasty strictly prohibited private casting and promoted the unified history of three officials and five baht in Shanglin.

In fact, privately minted coins have existed throughout the ages, and they have been repeatedly banned because privately minted coins are profitable. Private coins of modern mechanism coins can be found as early as19th century. At that time, Mexican and Spanish silver coins were called "Guangban, Fuban and Suban". The purpose of privately casting these silver coins is mainly to participate in circulation; 2) Obtaining valuable metallic silver by reducing the silver content is also a direct benefit. During the Republic of China, Yuan Datou and other silver coins were imitated. Some of them have reduced the silver content after casting and even plated with non-silver alloys. Some of them were obtained through sandwiches and digging.

Counterfeit money is not like this. Because the purpose of casting counterfeit money is not to participate in circulation and earn the remaining silver, but to sell it to collectors at a high price in the form of curiosity, and the price of silver accounts for a small proportion of the cost of counterfeit money, so the silver content of counterfeit money is not necessarily low, and it is often full of silver without losing weight.

Secondly, because the purpose of private coin casting is to participate in circulation and earn silver, the casting volume is generally large, which is relatively "small profits but quick turnover". If the casting quantity is small, the casting cost cannot be recovered without making money.

Counterfeit money is not like this. Counterfeit money is sold to collectors who have spare money and pursue novelty. The price can be very high, as long as a small amount of sales are successful, the cost can be recovered and even huge profits can be obtained. In particular, it is not novel to do too much counterfeit money. On the other hand, it will not sell the price, and it is easy to expose the clues.

Third, in order to facilitate circulation (facilitate circulation and facilitate mass reproduction), private mints often choose coins circulating in the market for reproduction, which are not abrupt and appear in the form that people are used to, thus benefiting from a large number of coins.

Forging counterfeit money is not to participate in circulation, but often appears as an unknown face. Based on the environment at that time or their own understanding of history, their producers either brought forth new ideas or added icing on the cake, such as "Empress Dowager Cixi looks like a silver coin", "zhang xun restoration Commemorative Coin" and "temporary military coins for crushing the enemy's five siege decisive battles". These counterfeit coins often appear in the market in a small amount and in a small range, and their casting background and outflow process are almost unknown. This kind of counterfeit money is counted one by one, and few costs will come back.

There are also a few counterfeit money entering the circulation channel, which is not the original intention of the originator of counterfeit money. Only for some reason, the collector gave up his collection or the counterfeiter failed to sell it successfully and had to sell it at a high price. If the counterfeit currency contains enough silver, the outside world may use it as a token to participate in circulation. But this is no longer the original purpose of forging counterfeit money. The biggest difference between private casting and counterfeiting is that private casting is money, money and real money. Fraud is not "money".

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