What do I do with damaged money?
(KHON2) — If you accidentally ripped a dollar bill, you may not be completely out of luck. But what do you do with mutilated money?
According to the U.S. Department of the Treasury, commercial banks will exchange your damaged, or “unfit” currency, for another, after some checks are made.
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“Unfit currency’ is currency which is unfit for further circulation because of its physical condition such as torn, dirty, limp, worn or defaced,” the department states on its website. The currency “may be exchanged at commercial banks.”
You could tape the green stuff back together but be warned that merchants may not accept the bandaged bills.
If you have, what the government refers to as “mutilated money,” then you can send the cash off to the Treasury for exchange.
“Mutilated currency’ is currency which has 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 and the currency must be forwarded to the Department of the Treasury for the examination by trained experts before any redemption is made.”
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Damaged coins are handled differently.
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 such as pennies, nickels, dimes, etc.
Coins that are not readily and clearly identifiable as to the genuineness and denomination of the coins, fused coins and mixed coins will not be accepted by the U.S. Mint for redemption.
