Counterfeit Detection: Cuba 1961 20 Pesos

The CIA provided counterfeits of the Cuba 1961 20 Pesos for the men who fought in the ill-fated Bay of Pigs Invasion in April 1961. Today, these counterfeits are highly prized by the numismatic community, and PMG-certified examples sell for hundreds of dollars at auction, making them worth more than the genuine notes they were designed to imitate.

The CIA notes are steeped in history. They were given to hundreds of Cuban paramilitaries backed by the CIA who attempted to topple newly empowered Cuban dictator Fidel Castro. However, the Bay of Pigs Invasion fell apart in a matter of days. Its failure embarrassed the nascent Kennedy administration and reinforced the hostile relationship between the US and Cuba, which has continued for decades.

The note below is a genuine example of a CIA counterfeit. Though it is missing its full serial number, the prefix is one that is found on these CIA counterfeits. (This particular example is being offered in a Heritage Auctions sale in August 2024.)

CIA Counterfeit of a Cuba 1961 20 Pesos Click images to enlarge

The CIA notes are designated by the catalog number 97x, and more than 140 examples are listed in the PMG Population Report, easily outpacing certified examples of the corresponding genuine notes issued by the Cuban government. The CIA notes imitate the Series 1961 notes with catalog 97a, an example of which is shown below.

Genuine Cuba 1961 20 Pesos Click images to enlarge

Indicators that you have a CIA note rather than a standard issue from the Cuban government include some instances of sloppiness in the design, including an 'O' that sags noticeably after 'PATRIA' near the top-right of the front of the note (below the '20' in the images below). Also, on the CIA counterfeits, the light blue lines that help form the border and help shade the BANCO NACIONAL DE CUBA banner across the top of the note are much brighter and more defined. And the wavy guilloche pattern in the background on the genuine Cuban note is much more elegant and symmetrical.

Close-ups of a genuine (left) and CIA counterfeit Cuba 1961 20 Pesos note Click images to enlarge.

PMG, at its sole discretion, certifies vintage counterfeits that have value to the collecting community, such as the CIA counterfeit notes from the Bay of Pigs Invasion. Knowing whether you have a genuine note or a contemporary counterfeit is important in determining its value. Remember that PMG backs its determinations of authenticity and grade with the PMG Guarantee.

Related Link:
View more PMG Counterfeit Detection columns