(bep.gov) – Currency can be damaged in many ways, whether it’s by fire, water, chemicals, animals or simple deterioration. Mutilated currency includes any type of damage that makes its value questionable.
Did you know that the U.S. Treasury Department’s Bureau of Engraving and Printing examines and redeems mutilated currency at no cost to you?
If you have damaged currency that you inherited or found in your backyard, don’t throw it away – you could be losing money!
What Do We Mean By Mutilated Currency?
Mutilated currency is currency which has been damaged to the extent that:
Its condition is such that its value is questionable and the currency must be forwarded to the Bureau of Engraving and Printing for examination by trained experts before any redemption is made. One example of mutilated currency may be bills missing relevant security features.
Currency can become mutilated in any number of ways. The most common causes are: fire, water, chemicals, and explosives; animal, insect, or rodent damage; and petrification or deterioration by burying.
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- Clearly more than 50 percent of a note identifiable as United States currency is present, along with sufficient remnants of any relevant security feature and clearly more than one-half of the original note remains; or,
- Fifty percent or less of a note identifiable as United States currency is present and the method of mutilation and supporting evidence demonstrate to the satisfaction of the Treasury that the missing portions have been totally destroyed.
Every year the Treasury Department handles approximately 30,000 claims and redeems mutilated currency valued at over $30 million. Your money is important. However, please know that heavy volume and the precise nature of the work may result in lengthy wait times. Please follow the submission instructions carefully to help us process your claim in the most efficient manner.
Learn more about mutilated currency and how to submit a claim. Keep in mind that the standard wait time for processing is 6 to 36 months.