Mutilated Currency and Coin

Currency Procedures

Mutilated currency is a note that has been damaged to the extent that one-half or less of the note remains, or its value is questionable and special examination by trained experts at the Department of the Treasury or the Bureau of Engraving and Printing (BEP) (Off-site Link) is required before any exchange is made.

The Federal Reserve DOES NOT accept deposits of mutilated currency. Mutilated currency must be sent directly to the BEP with a letter stating the estimated value of the currency and an explanation of how the currency became mutilated.

Call the BEP toll-free number, 866-575-2361, or visit the BEP Web site (Off-site Link) to obtain information on shipping instructions for mutilated currency, and to see photographic examples.

Under regulations issued by the Department of the Treasury, mutilated United States currency may be exchanged at face value if:

  • More than 50% of a note identifiable as United States currency is present

– OR–

  • 50% or less of a note identifiable as United States currency is present and the method of mutilation and supporting evidence demonstrates to the satisfaction of the Treasury that the missing portions have been totally destroyed.

If you believe the mutilated currency has also been contaminated such that it may pose a health or safety risk, write the word “Contaminated” on all internal packaging (not on the outside of the mailing container) and include a description of the contaminant, if known, in your letter to the BEP. Please refer to the Contaminated Currency section for additional depositing information.

Any badly soiled, dirty, defaced, disintegrated, limp, torn, or worn out currency note that is clearly more than one-half of the original note, and does not require special examination to determine its value, is not considered mutilated and should be included in your normal deposit.

Coin Procedures

Mutilated coin is coin that has been bent or twisted out of shape, punched, clipped, plugged, fused, or defaced, but that can be identified as to genuineness and denomination. Mutilated coin is not redeemable at face value; it is redeemable only at its bullion (metal) value as established by the Director of the U.S. Mint.

The Federal Reserve DOES NOT accept deposits of mutilated coin. Mutilated coin should be forwarded via 'Registered Mail, Return Receipt Requested' to the address below with documentation of the circumstances:

United States Mint
Independence Mall
P.O. Box 400
Philadelphia, PA 19105

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