Do you have broken dollars in such bad condition that stores won’t accept them? If you answered yes, you should know that the United States Bureau of Engraving and Printing (BEP) can redeem your tickets for free. Know what to consider and how to carry out the procedure.
The U.S. Treasury handles an average of 30,000 claims each year and redeems more than $30 million worth of bills, known as mutilated bills.
To this end, the Office of Financial Management located at the BEP commissions experts to examine the damaged banknotes and authorizes the issuance of a Treasury Department check for the value of the banknotes found to be redeemable.
What is a garbled bill?
The tax authorities refer to banknotes with the following characteristics as mutilated banknotes:
- Mutilated banknotes are those that clearly do not constitute more than half of the original banknote and/or are in such a condition that their value is doubtful and requires special analysis to determine their value.
- Money can be mutilated in many ways, including fire, water, chemicals or explosives
- Damage to banknotes can also be caused by animals, insects or rodents; and petrification or decay due to remaining underground.
The rules for exchanging a damaged or damaged ticket
According to regulations issued by the Treasury Department, damaged U.S. bills may be redeemed at their face value if:
- More than 50% of a bill identifiable as U.S. currency is present. either
- 50% or less of a bill of exchange identifiable as U.S. currency is present, and the method of mutilation and supporting evidence indicate to the satisfaction of the Treasury that the missing portions have been completely destroyed.
How to exchange a damaged or damaged ticket?
- Spoiled or “mutilated” money can be delivered by mail or in person to the engraving and printing company.
- If damaged money is presented, a letter must be included stating the estimated value of the money and an explanation of the circumstances of the money mutilation.
- Provide Electronic Funds Transfer (EFT) information and banking information. For checks, indicate the beneficiary and mailing address near the office
- Personal handovers of mutilated money are accepted in the engraving and printing shop. BEP Mutiled Money Division is located at 14th and C Streets, SW, Washington, DC 20228.
You must contact or send the ticket to the following addresses:
- Delivery via United States Postal Service (USPS): Bureau of Engraving & PrintingMCD/OFM, Room 344AP.O. Box 37048Washington, DC 20013.
- Non-postal delivery services, i.e. FEDEX and (or) UPS: Bureau of Engraving & PrintingMCD/OFM, Room 344A14th and C Streets SWWashington, DC 20028.
- Contact telephone numbers: (866) 575-2361 (toll free) and (202) 874-2141.