The 50 piastre note scam

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The 50 piastre note scam

Post by newcastle »

The government has started printing 1LE and 50 piastre notes again. No doubt we will see a few people trying out the old 50 piastre note scam.

A typical scam works like this. A local goes up to a foreigner in the street and asks whether they can change 100LE. The foreigner hands over the money, the local hands over the 100LE note, says thank you and starts walking away.

That's the end of the story unless... the change included a 50LE note. If that happens, the local swaps the 50LE note for a 50 piastre note, then turns back and points out the to foreigner that the note is 50 piastres , not 50LE.

If the foreigner argues, the local walks away: after all, he still has 100LE.

If the foreigner is new in Egypt, and thinks that they maybe did mistake the note, they hand back the 100LE note and accept the change, with the 50 piastre note. The local then walks away nearly 50LE richer.

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Re: The 50 piastre note scam

Post by carrie »

Well the 1 pound note was supposed to be issued before Ramadan but no sign of that yet.

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Re: The 50 piastre note scam

Post by Dusak »

Since Ramadan I have received several mint condition 1Le notes in my change. The cash man at the till in 40' told me that these were the new issues. Personally I prefer the coins. If they printed the 50 potato note, say in bright orange, then it would end any possible scams. Unless of course the unsuspecting victim is totally colour blind. :lol:
Life is your's to do with as you wish- do not let other's try to control it for you. Count Dusak- 1345.

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