Question I have some currency that was damaged. My bank will not exchange it for undamaged currency. What can I do?
Answer You will be interested to know that the Bureau of Engraving and Printing (BEP), through its Office of Currency Standards, processes all reimbursement for damaged United States currency. They decide the redemption value of torn or otherwise unfit currency by measuring the portions of the notes submitted. Generally, they reimburse the full face value if clearly more than one-half of the original note remains. Currency fragments measuring less than one-half are not redeemable.
If you feel that the currency you have clearly meets these standards, then you should forward it to the Department of the Treasury, Bureau of Engraving and Printing, Office of Currency Standards (OCS), Room 344-PD, Post Office Box 37048, Washington, D.C. 20013. You can now also visit the OCS on-line to get complete information about handling unfit currency notes. Upon receipt, the OCS will examine the currency to decide its authenticity and suitability for redemption. They will notify you directly of their findings. Unfortunately, it is impossible to predict how long this procedure will take, due to varying workloads. However, they make every effort to speed up shipments when possible.