How to Get Damaged Currency Replaced
Assess the damage., Measure what is left., Evaluate coins., Try to preserve the money., Package currency carefully., Compose a letter of explanation., Deliver currency in person., Mail your currency., Wait for your claim to be processed.
Step-by-Step Guide
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Step 1: Assess the damage.
If your money has suffered minor damage but is still legible and usable, you should use that currency as is.
If it is damaged but not mutilated and you do not want to use that currency for any reason, you can exchange that money at your local bank.Money that has been mutilated or extensively damaged beyond repair or use should be submitted to the US Bureau of Engraving and Printing or the US Mint.Do not falsify your claim or intentionally damage currency.
Both are federal crimes that are taken very seriously by the U.S. government. -
Step 2: Measure what is left.
In the United States, you must submit more than half (over 50 percent) of the paper bill intact.
This is in part to prevent people from ripping money in half and replacing both halves.
The only exception to this requirement is if less than 50 percent of the bill is intact but there is sufficient supporting evidence (such as burn marks) that the remainder of the bill has been destroyed.In addition to submitting the sufficient remains of a legible banknote, you must provide some remnant of the bill's security features.Security features may include the security ribbon woven into the bill, the security thread that runs vertically to the left of the portrait, watermarks, or color-shifting ink.The banknote's value must be identifiable so that the treasury can determine how much money to reimburse you for, if your claim is determined to be valid., Unlike paper banknotes, the Bureau of Engraving and Printing does not replace damaged coins.
Coins that are severely damaged, such as coins that have been melted or fused together, can be sent to the US Mint for evaluation.
The US Mint will then determine the best course of action., Even though the money has been damaged, it may become even more damaged by improper handling.
How you handle the money as you prepare to pack and ship it may help preserve it, ensuring that you get the equivalent amount of money back.If the currency was rolled up when it was mutilated, do not attempt to straighten it out.
If it was flat, do not attempt to roll, fold, tape, or glue it.Altering the money in any way could further damage the currency, but may also count as altering/defacing money, which is against the law., How you package the currency may be the difference between getting money back and suffering financial losses.
Package the currency in a way that will prevent any further damage and ensure a safe delivery.If the currency is brittle or may fall apart, pack the tattered money in a plastic sandwich bag with cotton to help insulate it and keep it in place.Do not ship coins and paper currency together.
The two forms of currency must be sent to separate offices, and packing coins with damaged paper money could cause further damage to the tattered banknote., Once you've carefully packed and preserved the damaged currency, you'll need to write a letter to include with your money.
The letter should be legible, and typed if at all possible.The letter should include: the original value of the currencyyour name and current contact informationa thorough explanation of how the money became damagedyour current bank account and routing number (the bank must operate within the United States)your current mailing address and any relevant instructions, if you want the money to come as a mailed check, If you live in or near Washington, D.C., you can deliver the damaged currency in person to the Bureau of Engraving and Printing.
The Bureau accepts personal deliveries of damaged or mutilated currency between the hours of 8:00 am and 11:30 am, and between 12:30 pm and 2:00 pm., If you do not live in Washington, D.C., or are otherwise incapable of personally delivering damaged currency, you can send the currency by mail through the US Postal Service.
Send all damaged currency through Registered Mail, with return receipt requested.
You may also wish to purchase insurance on the package to ensure that your losses are covered if the package becomes lost or damaged.Damaged paper currency should be addressed to the US Bureau of Engraving & Printing, MCD/OFM Room 344A, P.O.
Box 37048
- Washington, DC
20013.Mutilated coins can be sent for evaluation to the U.S.
Mint.
Packages containing mutilated coins should be addressed to the Superintendent of the U.S.
Mint, Attn.:
Mutilated Coins, P.O.
Box 400
- Philadelphia, PA
19105., Once you've submitted your damaged currency to the proper office, you'll have to wait for the claim to be processed.
Each case is reviewed by a qualified professional to determine the extent of damage, confirm the banknote's value, and assess the validity of each claim.Claims can take anywhere from six months to 36 months to process.
The evaluation process depends heavily on the condition of the money, the extent of damage, and the conditions under which it was damaged.The Director of the Bureau of Engraving and Printing makes the final decision on all damaged currency claims.To check the status of your claim at any time, you can call the Bureau of Engraving and Printing toll-free at 866-575-2361, or email the office at [email protected]. -
Step 3: Evaluate coins.
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Step 4: Try to preserve the money.
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Step 5: Package currency carefully.
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Step 6: Compose a letter of explanation.
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Step 7: Deliver currency in person.
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Step 8: Mail your currency.
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Step 9: Wait for your claim to be processed.
Detailed Guide
If your money has suffered minor damage but is still legible and usable, you should use that currency as is.
If it is damaged but not mutilated and you do not want to use that currency for any reason, you can exchange that money at your local bank.Money that has been mutilated or extensively damaged beyond repair or use should be submitted to the US Bureau of Engraving and Printing or the US Mint.Do not falsify your claim or intentionally damage currency.
Both are federal crimes that are taken very seriously by the U.S. government.
In the United States, you must submit more than half (over 50 percent) of the paper bill intact.
This is in part to prevent people from ripping money in half and replacing both halves.
The only exception to this requirement is if less than 50 percent of the bill is intact but there is sufficient supporting evidence (such as burn marks) that the remainder of the bill has been destroyed.In addition to submitting the sufficient remains of a legible banknote, you must provide some remnant of the bill's security features.Security features may include the security ribbon woven into the bill, the security thread that runs vertically to the left of the portrait, watermarks, or color-shifting ink.The banknote's value must be identifiable so that the treasury can determine how much money to reimburse you for, if your claim is determined to be valid., Unlike paper banknotes, the Bureau of Engraving and Printing does not replace damaged coins.
Coins that are severely damaged, such as coins that have been melted or fused together, can be sent to the US Mint for evaluation.
The US Mint will then determine the best course of action., Even though the money has been damaged, it may become even more damaged by improper handling.
How you handle the money as you prepare to pack and ship it may help preserve it, ensuring that you get the equivalent amount of money back.If the currency was rolled up when it was mutilated, do not attempt to straighten it out.
If it was flat, do not attempt to roll, fold, tape, or glue it.Altering the money in any way could further damage the currency, but may also count as altering/defacing money, which is against the law., How you package the currency may be the difference between getting money back and suffering financial losses.
Package the currency in a way that will prevent any further damage and ensure a safe delivery.If the currency is brittle or may fall apart, pack the tattered money in a plastic sandwich bag with cotton to help insulate it and keep it in place.Do not ship coins and paper currency together.
The two forms of currency must be sent to separate offices, and packing coins with damaged paper money could cause further damage to the tattered banknote., Once you've carefully packed and preserved the damaged currency, you'll need to write a letter to include with your money.
The letter should be legible, and typed if at all possible.The letter should include: the original value of the currencyyour name and current contact informationa thorough explanation of how the money became damagedyour current bank account and routing number (the bank must operate within the United States)your current mailing address and any relevant instructions, if you want the money to come as a mailed check, If you live in or near Washington, D.C., you can deliver the damaged currency in person to the Bureau of Engraving and Printing.
The Bureau accepts personal deliveries of damaged or mutilated currency between the hours of 8:00 am and 11:30 am, and between 12:30 pm and 2:00 pm., If you do not live in Washington, D.C., or are otherwise incapable of personally delivering damaged currency, you can send the currency by mail through the US Postal Service.
Send all damaged currency through Registered Mail, with return receipt requested.
You may also wish to purchase insurance on the package to ensure that your losses are covered if the package becomes lost or damaged.Damaged paper currency should be addressed to the US Bureau of Engraving & Printing, MCD/OFM Room 344A, P.O.
Box 37048
- Washington, DC
20013.Mutilated coins can be sent for evaluation to the U.S.
Mint.
Packages containing mutilated coins should be addressed to the Superintendent of the U.S.
Mint, Attn.:
Mutilated Coins, P.O.
Box 400
- Philadelphia, PA
19105., Once you've submitted your damaged currency to the proper office, you'll have to wait for the claim to be processed.
Each case is reviewed by a qualified professional to determine the extent of damage, confirm the banknote's value, and assess the validity of each claim.Claims can take anywhere from six months to 36 months to process.
The evaluation process depends heavily on the condition of the money, the extent of damage, and the conditions under which it was damaged.The Director of the Bureau of Engraving and Printing makes the final decision on all damaged currency claims.To check the status of your claim at any time, you can call the Bureau of Engraving and Printing toll-free at 866-575-2361, or email the office at [email protected].
About the Author
Patrick Collins
Patrick Collins has dedicated 13 years to mastering businessservices. As a content creator, Patrick focuses on providing actionable tips and step-by-step guides.
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