How to Exchange Old Money
Understand the concept of mutilated currency., Prepare to redeem mutilated bills., Mail or deliver the mutilated currency.
Step-by-Step Guide
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Step 1: Understand the concept of mutilated currency.
If you own U.S. currency that is badly damaged, there are two basic ways to get the currency replaced.
The correct method depends on whether or not the currency is considered "mutilated".Mutilated currency is defined as any currency that is damaged to the point where it is difficult to determine the value of the currency, or if at least one half of the currency is not present.
For example, if you have a bill that is damaged to the point where only 25% of the bill remains, it would be considered mutilated.
Missing or damaged security features also constitute a mutilated bill.
Mutilation is typically caused by fire, water, chemicals, burial, or animal/insect damage. -
Step 2: Prepare to redeem mutilated bills.
If your bill is mutilated, the only way to redeem the currency is by filing a reimbursement claim with the Office of Currency Standards within the Bureau of Engraving and Printing.
The Bureau will use trained experts to determine if the currency is valid before any redemption is made.You must mail or personally deliver the mutilated currency to the Bureau of Engraving and Printing.
When you submit the currency, you must include a simple letter indicating the estimated value of the currency, your contact information, and how the currency became damaged.
With your submission, you should also include your bank account and routing number if you want to be reimbursed via direct deposit.
If you choose to be reimbursed via check, include your mailing address and payee information. , After you have prepared your letter, you must mail the currency.
Mailing mutilated currency involves making sure procedures are taken to reduce the chance of further damage occurring.If the currency is likely to fall apart, pack it gently in cotton, and place the package in a secure container.
If the currency was flat when mutilated, never attempt to roll or alter the currency in any way to preserve it.
If the currency was in a roll, never attempt to unroll it, and simply mail or deliver it as is.
Mail your package to:
Bureau of Engraving & Printing, MCD/OFM, Room 344A, P.O.
Box 37048, Washington, DC
20013.
If you are in the Washington DC area, you can deliver your submission to:
Bureau of Engraving & Printing, MCD/OFM, Room 344A, 14th and C Streets SW, Washington, DC 20228 Claims typically take between 6 and 36 months to be fully processed. -
Step 3: Mail or deliver the mutilated currency.
Detailed Guide
If you own U.S. currency that is badly damaged, there are two basic ways to get the currency replaced.
The correct method depends on whether or not the currency is considered "mutilated".Mutilated currency is defined as any currency that is damaged to the point where it is difficult to determine the value of the currency, or if at least one half of the currency is not present.
For example, if you have a bill that is damaged to the point where only 25% of the bill remains, it would be considered mutilated.
Missing or damaged security features also constitute a mutilated bill.
Mutilation is typically caused by fire, water, chemicals, burial, or animal/insect damage.
If your bill is mutilated, the only way to redeem the currency is by filing a reimbursement claim with the Office of Currency Standards within the Bureau of Engraving and Printing.
The Bureau will use trained experts to determine if the currency is valid before any redemption is made.You must mail or personally deliver the mutilated currency to the Bureau of Engraving and Printing.
When you submit the currency, you must include a simple letter indicating the estimated value of the currency, your contact information, and how the currency became damaged.
With your submission, you should also include your bank account and routing number if you want to be reimbursed via direct deposit.
If you choose to be reimbursed via check, include your mailing address and payee information. , After you have prepared your letter, you must mail the currency.
Mailing mutilated currency involves making sure procedures are taken to reduce the chance of further damage occurring.If the currency is likely to fall apart, pack it gently in cotton, and place the package in a secure container.
If the currency was flat when mutilated, never attempt to roll or alter the currency in any way to preserve it.
If the currency was in a roll, never attempt to unroll it, and simply mail or deliver it as is.
Mail your package to:
Bureau of Engraving & Printing, MCD/OFM, Room 344A, P.O.
Box 37048, Washington, DC
20013.
If you are in the Washington DC area, you can deliver your submission to:
Bureau of Engraving & Printing, MCD/OFM, Room 344A, 14th and C Streets SW, Washington, DC 20228 Claims typically take between 6 and 36 months to be fully processed.
About the Author
Sandra Bell
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