Tainan police yesterday arrested a 45-year-old man who was in possession of 59,225 fake NT$50 coins, weighing 583 kg, Apple Daily reported. The man was arrested following a six-month investigation into the counterfeiting operation that has seen significant quantities of fake NT$50 coins enter the market.
Police also found US-made assault rifles and shotguns and ammunition during their search of the premises. However, the police were not able to locate the mold for producing the fake coins.
Authorities said that the fake coins are difficult to distinguish, though they tend to be a lighter color. The fake coins are also missing the “五十” characters that appear in the center of the coin when reflecting light. While a person may identify the coins as fake upon inspection, vending machines will not be capable of distinguishing the difference.