Counterfeit Cash Floods the Nation: Secret Service Scrambles to Keep Up

As the clock struck midnight on December 31, 1953, a sinister wave of counterfeiting washed over the nation, catching authorities off guard. According to U.E. Baughman, Chief of the U.S. Secret Service, a flood of new, expertly crafted counterfeit $10, $15, and $20 bills began circulating just before Christmas, leaving retailers and banks scrambling to keep up.