Education wing · by Coldie
How do you exchange mutilated money with the US Treasury?
Mutilated US currency is redeemed by the Bureau of Engraving and Printing (BEP), part of the Treasury, free of charge. If clearly more than 50% of a note is present and identifiable, you get full face value. If half or less survives, you must show evidence that the missing part was destroyed. You mail the notes in (or hand-deliver in Washington, DC), an examiner assesses them, and payment now arrives electronically. Processing takes anywhere from about six months to several years.
This is the official safety net for destroyed cash: burned, buried, shredded, flooded, eaten by animals or, in my case, digested by two years of mold underground. The rules, straight from the BEP:
More than 50% of the note present and identifiable as US currency, with enough of its security features surviving: full face value. Fifty percent or less: you can still be paid, but only if the evidence convinces the examiners the rest of the note is gone forever, not sitting in someone else's claim. The service is free, and there is no minimum.
My own run at the official route went differently. The bank manager who turned my brick away took my information so the Treasury could send me an exchange bag for the filthy bills. That bag never arrived. The bills sat with me, unspendable and unexchangeable, until I realized nature had made them into something a redemption check could never cover. The full arc is in the story.
If you go the proper way rather than my way: do not unfold, flatten, or separate notes that are stuck together, pack them exactly as found, and include a letter with your estimate of value and how the damage happened. Then be patient. The BEP itself says each case takes as long as its complexity demands, and outside estimates run from six months to several years.
Related questions
Does it cost anything to redeem mutilated currency?
No. The BEP examines and redeems mutilated currency free of charge.
How long does redemption take?
It varies with the case and the examiners' workload. Typical estimates run from about six months to several years for complex submissions.
What if less than half my note survived?
You can still be redeemed, but you must satisfy the BEP that the missing portion has been totally destroyed, so no one else could ever claim it. Your written account of how the damage happened matters.
Is moldy money mutilated or contaminated?
It can be both. Mutilated refers to physical condition (torn, burned, decayed); contaminated refers to health hazards like mold. Contaminated submissions get special handling, so describe mold clearly in your letter for everyone's safety.
How do I get paid?
Approved claims are now paid electronically (such as by ACH bank transfer) rather than by paper Treasury check.
The doorway
Everything on this page is illustrated with real dollars that spent two years underground.
See what nature made of themSOURCES · BEP: mutilated currency redemption · BEP: how to submit a request · UPDATED 2026-07-05