Can i trade in my 5 dollar bill even though it has a hole ?

Question

My guy friend gave me a 5 dollar bill but he burnt a hole on the right side for no reason, can i trade it in and use it, or should i just keep it because i can't do anything about it?
Thanks for your replys!!! :)

Answer 1

Easy question! You can trade it in, or take it to a bank. The only requirement is that a US bill has a serial number and is over half of the bill. A hole in it is no problem. Now the guy "Friend" that gave you the burnt bill needs to go! He is not exactly genius material!

Answer 2

You can use it no problem. If the hole is big it would need to be traded at the bank.

If, however, the currency is more seriously damaged or mutilated, it must be sent to the BEP for examination and identification after which the claimant will be reimbursed for its face value by a U.S. Treasury check. The standards by which mutilated currency can be exchanged at face value are: (1) at least 51% of a currency note is present and identifiable; or (2) 50% or less of a currency note is present and the submitted evidence justifies the method of mutilation and the U.S. Treasury is satisfied that all missing portions of the currency note have been totally destroyed.

Answer 3

Yeah they can. As long as they can tell it is the original bill its still legal tender until destroyed by the closest federal reserve. The Reserve will just shred it once they receive it in and credit the bank. Check the webpage in the source under CURRENCY paragraph for unfit currency.

Answer 4

Banks will give you face value on any bill not defaced in an attempt to make it look like its worth more then it really is and you have 51% of the bill.

Answer 5

If you have more than 50% of the bill, the bank will give you the entire face value of the bill.

Answer 6

I believe if more than 50% of the bill is intact, as are the two serial #'s, you can trade it in, and the bank will remove it from circulation.

Answer 7

you can trade in any bill to a bank as long as there is one full serial number on one side of the bill and at least one half of the other serial number on the other half of the bill

Answer 8

Any merchant or bank will accept the note as is, it will be sent to the Federal Reserve bank in your area and removed from circulation. This sort of thing happens all the time, it is no big deal.

Answer 9

yes! as long as the serial numbers are still on the bill. i suppose the bank will trade half the value.

Answer 10

My grandfather told me that if it still has the whole serial number on it, and there's 51% of the bill intact, it's still worth full value.