Today, counterfeit would be used to describe something as an exact copy of another item without the same value.
Answer:
Counterfeit today means a copy. A copy which looks like of the original but is not really in the original.
Explanation:
Shakespeare calls the portrait a counterfeit which symbolizes that something which is a copy or which is not the original one. It is the mere representation of the original object. Hence, it can be concluded that there has been a shift in the meaning of the word but the main objective of the word remains the same.