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Currency and Coin Frequently Asked Questions

Frequently Asked Questions

Federal Reserve Financial Services is committed to providing the answers and information you need. Answers to many of our customers most frequently asked questions can be found using the links below.

If your question is not answered by the information provided on the site, My FedDirectory^SM provides a comprehensive list of service and support contacts who can assist you.

Currency Questions

How much currency was printed this year?
How much currency is in circulation?
How much currency did the Federal Reserve Banks pay out and receive in 2002?
How much currency did the Federal Reserve Banks destroy in 2002?
What is the average life of currency?
What is currency paper made of?
What is the length of the dollar bill and how much does currency weigh?
Where can I redeem mutilated currency?
I have this bill and I want to know how much it is worth?
Where can I get $2 bills?
Where can I obtain uncut sheets of currency?
How do I purchase/obtain a supply of shredded currency?
I have a note that does not look genuine. How do I determine if it is counterfeit?
How does the Federal Reserve influence the money supply?
What is the largest denomination printed and who is on it? How about for coin?

Coin Questions

Where can I take worn pennies/coins to exchange them for new ones?
Where can I get new uncirculated coins?
Where can I get golden dollars?
How can I obtain an Eisenhower dollar?
How much coin was minted in 2002?
What are the diameters and weights of a coin?
Where can I get more information about the commemorative coin program?
Are commemorative quarters worth more than other quarters?

Q: How much currency was printed this year?

A: The Bureau of Engraving and Printing (BEP) order for FY 2003 is 8.2 billion notes with a face value of $153.5 billion.

Q: How much currency is in circulation?

A: As of January 27, 2003, there was $630 billion of currency in circulation. (Source: Board of Governors website, Federal Reserve Statistics Release H.1)

Q: How much currency did the Federal Reserve Banks pay out and receive in 2002?

A: In 2002, Federal Reserve Banks received in 34 billion notes, and paid out 35 billion notes.

Q: How much currency did the Federal Reserve Banks destroy in 2002?

A: In 2002, Federal Reserve Banks destroyed 7.9 billion notes.

Q: What is the average life of currency?

A:

Denomination	Life (years)
$1	1.8
$5	1.3
$10	1.5
$20	2
$50	5
$100	8.5

SOURCE: Board of Governors, 2002 (based on currency in circulation)

Q: What is currency paper made of?

A: Currency paper is one-fourth linen and three-fourths cotton.

Q: What is the length of the dollar bill and how much does currency weigh?

A: Length = 6 1/8 inches (all denominations are the same)
Strap = 100 notes = 3.48 ounces
Bundle = 1,000 notes = 2.19 pounds
Brick = 4,000 notes = 8.75 pounds
Cash Pak = 16,000 notes = 35 pounds
Based on 1996 Series

Q: Where can I redeem mutilated currency?

A: Mutilated currency is defined as any U.S. currency note, or more than half a note, which does not contain a full portrait or that is in such condition as to render the note questionable, such as a burned, wet or disintegrated note which needs special processing to determine its value. All mutilated currency should be mailed to the Bureau of Engraving and Printing. You should include a letter detailing an estimate of the currency's value and how the notes came to be mutilated. All letters and currency notes should be sent by Registered Mail with Return Receipt Requested. Insuring the shipment is also recommended. The mailing address is:

Department of Treasury
Bureau of Engraving and Printing
Office of Currency Standards
P.O. Box 37048
Washington, D.C. 20013

For currency that is badly soiled, dirty, defaced, disintegrated, limp, torn, or worn out and is clearly more than one-half of the original note, and does not require examination to determine its value, typically commercial banks and most Federal Reserve Banks can handle this type of currency. To deposit contaminated currency, please contact your commercial bank for instructions.

Q: I have this bill and I want to know how much it is worth?

A: If you believe that a bill (note) might be worth more than its face value, you need to check with a currency collector or dealer. Your local yellow pages should list currency & coin collectors or dealers.

Q: Where can I get $2 bills?

A: Your local banks should have $2 bills. If your bank does not have any on hand, it can order them from the Federal Reserve Bank.

Q: Where can I obtain uncut sheets of currency?

A: The Bureau of Engraving and Printing (BEP) sells uncut currency sheets to the public in both $1 and $2 denominations. Please go to the BEP website at: http://www.moneyfactory.com (Off-site Link).

Q: How do I purchase/obtain a supply of shredded currency?

A: Federal Reserve Banks may distribute small packages of the currency residue to visitors and other members of the public in connection with Bank tours and other information and public relations programs.

Q: I have a note that does not look genuine. How do I determine if it is counterfeit?

A: Notify the nearest Secret Service office or your local police if you question the genuineness of a note in your possession.

Q: How does the Federal Reserve influence the money supply?

A: The Federal Reserve influences the money supply chiefly by buying or selling Treasury securities on the open market. When the Federal Reserve sells securities, it pulls funds out of the banking system, decreasing their ability to lend and invest, tending to decrease the money supply. When the Federal Reserve buys securities, it reverses this effect, and the money supply tends to increase.

Q: What is the largest denomination printed and who is on it? How about for coin?

A:

Currency		Coin
Denom	Portrait	Denom	Portrait
$1	George Washington	Penny	Abraham Lincoln
$2	Thomas Jefferson	Nickel	Thomas Jefferson
$5	Abraham Lincoln	Dime	Franklin Roosevelt
$10	Alexander Hamilton	Quarter	George Washington
$20	Andrew Jackson	Half	John F. Kennedy
$50	Ulysses Grant	Dollar	Dwight D. Eisenhower
$100	Benjamin Franklin	Dollar	Susan B. Anthony
$500	William McKinley	Dollar	Sacagawea
$1,000	Grover Cleveland
$5,000	James Madison
$10,000	Salmon P. Chase
$100,000	Woodrow Wilson*

The $500 - $10,000 notes are not circulated outside the Federal Reserve System. The shrinking demand for these notes prompted the decision to discontinue their printing in 1946. Even with this decision, the supply on hand in 1946 did not diminish to the point where continued issuance would require additional printing until twenty-three years later. The surveys conducted then indicated that the public had no real need for notes with a value of $500 and above because checks or $100 notes were effective for large dollar transactions. Based on the survey results, the Federal Reserve discontinued issuing large notes in 1969, and began destroying the large notes when received from circulation.

Coin Questions

Q: Where can I take worn pennies/coins to exchange them for new ones?

A: The US Mint, located in Philadelphia, Pennsylvania, is responsible for the redemption of all worn/mutilated coins. Federal Reserve Banks are not authorized to handle worn/mutilated coins for depository institutions or the public. Therefore, depository institutions and the public are instructed to send their mutilated coins directly to the US Mint for redemption. Shipping expenses and the risk involved in the delivery of the coins are the responsibility of the sender. The address is:

United States Mint
5th & Arch Street
Philadelphia, PA 19106

Q: Where can I get new uncirculated coins?

A: Neither the Federal Reserve Banks nor the United States Mint provide coins directly to the public for circulation purposes. Instead, coins are placed into circulation through depository institutions (e.g. banks, savings & loans, credit unions, thrifts). The Reserve Banks issue circulated coins before new coins. You may need to contact several banks about supplies of new coins.

Q: Where can I get golden dollars?

A: The US Mint sells golden dollars directly to the public from their website at: http://www.usmint.gov (Off-site Link) or you may ask your local bank if they have any inventory.

Q: How can I obtain an Eisenhower dollar?

A: Most Eisenhower dollars are in circulation. The US Mint discontinued minting Eisenhower dollars in December 1978 and the last of the Eisenhower dollars were distributed to the Federal Reserve Banks in April 1979. Because the Eisenhower dollars are no longer minted, the Reserve Banks cannot order them from the US Mint and supply them to banks. Coin dealers listed in the telephone yellow pages usually have a supply of Eisenhower dollars.

Q: How much coin was minted in 2002?

A: In 2002, the US Mint produced 14.4 billion coins.

Q: What are the diameters and weights of a coin?

A:

Denomination	Diameter (mm)	Weight (grams)
Penny	19.05	2.5
Nickel	21.2	5
Dime	17.9	2.27
Quarter	24.26	5.67
Half Dollar	30.6	11.34
Eisenhower Dollar	38.1	22.68
Susan B Anthony Dollar	26.5	8.1
Sacawega Dollar	26.5	8.1

Q: Where can I get more information about the commemorative coin program?

A: Please visit the US Mint website at http://www.usmint.gov (Off-site Link).

Q: Are commemorative quarters worth more than other quarters?

A: No, all quarters are valued at their face value. However, certain coins may have special numismatic value. Please check with a coin dealer for information.

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