What Will You Do with Partially Destroyed the US Currency

If you've ever received a partially destroyed US currency, you might wonder what to do with it. The US Treasury Department's Bureau of Engraving and Printing (BEP) has a clear policy on this matter.

You can deposit partially destroyed currency at your bank, and the bank will send it to the Federal Reserve for processing. This is a convenient option for most people.

The Federal Reserve will then shred the damaged currency and recycle the paper. This process is environmentally friendly and ensures that the damaged notes are no longer in circulation.

If you have damaged U.S. currency, there are several options for redeeming it. You can start by checking if the damage is severe enough to be considered "mutilated", which means one-half or less of the original note remains, or its condition is questionable.

The Bureau of Engraving and Printing (BEP) provides free mutilated currency redemption services for individuals and institutions. They receive over 22,000 requests for examination each year, with an estimated value of over $35 million.

If your damaged currency is not severe enough to be considered mutilated, you can try exchanging it at a commercial bank. They can exchange "unfit" currency, which includes notes that are torn, dirty, limp, worn, or defaced.

However, if your damaged currency is a coin, you can try redeeming it at the U.S. Mint. They accept bent or partial coins that weigh at least one pound and are separated by denomination category.

But what if your damaged currency is contaminated, exposed to animal waste or sewage, or damaged by a liquid or chemical substance? In such cases, it's best to contact the BEP for special handling.

It's worth noting that the BEP manages around 30,000 claims and redeems mutilated money valued at over $30 million every year. They have unique tools to study the authenticity and assess notes' value.

Here's a quick summary of what to do with damaged U.S. currency:

Remember to keep your damaged currency in a safe place until you can get it redeemed.

Damaged currency can be a real hassle, but don't worry, there are ways to exchange it for new bills. Commercial banks will exchange your damaged, or "unfit" currency, for another, after some checks are made.

If you've got a torn dollar bill, you might be able to tape it back together, but be warned, merchants may not accept the bandaged bills.

The U.S. Department of the Treasury defines "unfit currency" as bills that are torn, dirty, limp, worn, or defaced. These bills can be exchanged at commercial banks.

Mutilated money, on the other hand, is currency that's been damaged to the extent that one-half or less of the original note remains, or its condition is such that its value is questionable. In this case, you'll need to send the cash off to the Treasury for exchange.

Here are the types of damaged coins that can be redeemed by the U.S. Mint:

These coins must weigh no less than one pound and be separated by denomination category, such as pennies, nickels, dimes, etc.

If you've got partially destroyed US currency, there are a few options for redeeming and replacing it.

The Bureau of Engraving and Printing (BEP) has a Mutilated Currency Division that provides free redemption services for individuals and institutions with damaged currency. On average, they receive over 22,000 requests per year, with an estimated value of over $35 million.

You can submit a request for examination of mutilated currency for possible redemption on the BEP's website. The Director of the BEP has the final authority on redemption decisions.

To be eligible for redemption, your currency must meet certain criteria. Clearly more than 50% of the note must be present, along with sufficient remnants of security features. Alternatively, 50% or less of the note must be present, and the method of mutilation and supporting evidence must demonstrate that the missing portions have been totally destroyed.

If your currency doesn't meet these criteria, you may still be able to exchange it at a commercial bank. The Federal Reserve System defines unfit currency as notes that are worn, torn, limp, dirty, or defaced. About 85% of currency deposited with the Federal Reserve is fit, and skilled employees can detect unfit currency using complex equipment or by examining torn bills in person.

Commercial banks can exchange damaged money for you, but it's best to seek out a bank that can handle the exchange quickly and efficiently.

If you're unsure about what to do with your partially destroyed currency, you can contact the BEP directly for guidance. They have a detailed guide to redeeming mutilated cash and filling a mutilated currency claim.

Here's a summary of the process:

Keep in mind that handling and counting mutilated currency is sensitive and tedious work, so claim processing can take anywhere from six to thirty-six months.

If your bill is torn, you can exchange it at a commercial bank, but be warned that merchants may not accept bandaged bills.

Commercial banks will exchange your damaged currency for another after some checks are made.

You can tape the green stuff back together, but it's not a guarantee that merchants will accept it.

Mutilated money, which is currency that has been damaged to the extent that one-half or less of the original note remains, needs to be sent to the Treasury for exchange.

The U.S. Department of the Treasury defines "unfit currency" as currency that is unfit for further circulation due to its physical condition, such as torn, dirty, limp, worn, or defaced.

Bent or partial coins will be accepted for redemption by the U.S. Mint as long as they weigh no less than one pound and are separated by denomination category.

Coins that are fused, mixed, or not readily identifiable as to their genuineness and denomination will not be accepted by the U.S. Mint for redemption.

If you have a mutilated note, you can directly contact the Bureau of Engraving and Printing to redeem it.

They have unique tools to study the authenticity and assess the note's value, and once they do, they can issue a check back to you.