Every once in a while in this life time if you are using money to purchase goods or services you will most likely come across and handled torn money or U.S. Currency. Sometimes you get torn money or currency from family members, friends or from shopping at your local convenience shops. If the money is torn how does this torn money keep getting recycle over and over. Should this torn money be taken out of circulation. Yes, this torn money should be taken out of circulation but the majority of people do not know what to do with this torn money or who to give this torn money to.
Everyone who puts their hands on torn money wants to get rid of this torn money as soon as they received it. Torn money is the gift that keeps on giving, because no one wants to be the last person handling torn money. Most believed that someone gave it to them just to get rid of it, so they will do the same in return to someone else. Everyone believes that its not may problem, let someone else go through all of the problems that could be associated with torn money.
When people come in possession of torn money most people start to think or reason in their minds will someone think that I'm trying to cheat or defraud them. People are a little apprehensive when it comes to dealing with torn money, because of all of the money laundering issues going on after 911. Now that you have this torn money in your possession what to do with this torn money, most people do not have a clue. Will convenience stores or banks take torn money from you when you have the money in your possession. All of these questions are valid questions that you should be concerned with.
Do not panic when you have torn money in your possession because there are some things you can do to correct this problem.
Money To Banks:
If you have 1/2 or more of a torn bill or currency and the denomination can be determine you can exchange that currency at your local banks.
Money To Treasury:
If the torn bill is less than 1/2 or if the bill is torn or ripped or mutilated to a point that you cannot determine its denomination you will have to forward all of the parts you have of that particular bill or currency to the Department of Treasury for review. Also if the currency is so badly damage do not try and repair it yourself place the currency in a plastic bag and forward to the Treasury.
You will also have to provide an explanation as to how the currency was damage. At the Treasury department that have specialists will try to put the pieces together to determine the bill or currency denomination. Also they will make sure that no fraud is involved while they are reviewing or examining the currency.
Forward your torn or mutilated bills or currency to:
Department of the Treasury
Bureau of Engraving and Printing
Office of Currency Standards
P. O. Box 37048
Washington, D. C. 20013
