The present invention discloses a magnetic currency verification head comprising a magneto resistive sensor chip (41), and a magnetic bias unit (45) disposed on the side of the magneto resistive sensor chip (41) away from the detection surface (40) of the magnetic currency verification head, and separated from the magnetoresistive sensor chip (41); the magnetoresistive sensor chip (41) comprises a bridge circuit wherein the bridge arms are magnetic sensor elements; the sensitive direction (49) of the magnetic sensor elements is parallel to the detection surface (40) of the magnetic currency verification head ; and the magnetic bias unit (45) has a recessed structure; the recessed structure is configured such that the magnetic field generated by the magnetic bias unit (45) only has a small magnetic field component in the direction parallel to the detection surface (40), thereby enabling the magnetic sensor elements to operate in their linear range. As a result, the magnetic currency verification head has high sensitivity and signal-to-noise ratio.