06:52 PM MDT on Monday, October 3, 2005

David Gale
Idaho's NewsChannel 7

TWIN FALLS -- A new twist in counterfeiting money has appeared in Twin Falls.

Twin Falls Police

The U.S. government never made $1 million silver certificates. Phony ones like this showed up recently at a Twin Falls bank.

It's part of an ongoing investigation in the Magic Valley where a local crime has got the attention of the United States Secret Service and the FBI.

"If this were real money, this would be $1 million short of a billion dollars," said Dave Heidemann, Twin Falls Police.

This large quantity of counterfeit money is the result of an investigation that began in Twin Falls in August.

That's when police say a suspect went into a local bank, presented 10 of the fake silver certificates and requested a loan. Each certificate is supposed to be worth $1 million.

"Years ago, the treasury did have silver certificates in circulation and that was backed up by silver," said Heidemann.

These counterfeit notes are based on an actual $1 silver certificate from 1923.

"This far exceeds any quality that we see as counterfeit money routinely passed in the city," said Heidemann.

But police say the suspect made a simple mistake.

"The million dollar note was never manufactured," said Heidemann.

Banks were not fooled and police eventually gathered up $900 million of the fake notes.

No arrests have been made and police are asking residents and businesses to keep on the lookout for any other counterfeit notes floating around.

Police say the fake money most likely originated in the United Kingdom and made its way into the U.S. through Canada.

Anyone with information about this crime is encouraged to call the Twin Falls Police Department.