how much of a torn one dollar bill is needed for redeeming?

Question

i have a one dollar bill with 97%of the face and all the serial numbers on the half i have, the local bank will not take it, why?

Answer 1

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.

Answer 2

I have experienced the same thing.

Legally speaking, it only has to be more than half of it, to get credit for it.

I don't know what is going on. Either the law has been changed, which I doubt, but many laws have.

Or they just don't want to do anything these days, with so many people to wait on besides.

You can send it to the U.S. mint. They should replace it for you, but minus the price of you're stamp! Isn't it ridiculous.

To top it off, on our small local shuttle bus, I was gonna right in and say, our ones our folded, spindled, and mutilated everyday just to get them into the box for the fare! No reason for this.

That's what they used to say on them. This is legal tender for all notes public and private, do not fold spindle, or mutilate.

Imagine just how many torn ones we will have to deal with! And the cost to the taxpayer of having more of them made, don't those bus rider's ever think of reporting this mutilation? I'm serious!

Answer 3

My bank told me to have alittle over half the bill and they can replace it for me.