Did you know that the U.S. Treasury Department’s Bureau of Engraving and Printing (BEP) examines and redeems mutilated currency at no cost to you? Every year the Treasury Department handles approximately 30,000 claims and redeems mutilated currency valued at over $30 million.
Mutilated currency is currency which has been damaged to the extent that its value is questionable. 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. One example of mutilated currency may be bills missing relevant security features. Lawful holders of mutilated currency may receive a redemption at full value but the currency must be forwarded to the BED for examination by trained experts before any redemption is made.
If you have damaged U.S. currency, don’t throw it away, file a claim. Learn more about mutilated currency and how to submit a claim. The standard wait time for processing is 6 to 36 months.