A magnetic currency verification head may include a magnetoresistive sensor chip, and a magnetic bias unit disposed on the side of the magnetoresistive sensor chip away from the detection surface of the magnetic currency verification head, and separated from the magnetoresistive sensor chip; the magnetoresistive sensor chip comprises a gradiometric bridge circuit that includes magnetic sensor elements; the sensitive direction of the magnetic sensor elements is parallel to the detection surface of the magnetic currency verification head; and the magnetic bias unit has a recessed magnetic structure configured such that the magnetic field generated by the magnetic bias unit only has a small magnetic field component in the direction parallel to the detection surface, 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.