Regulatory Alerts1980-08-21
Added · Updated
Standards for Redemption of Soiled or Mutilated Currency Notes and Coins Unfit for Circulation
The Standards establish redemption values for soiled or mutilated currency notes and coins based on the extent of damage. Notes with three-fourths or more remaining, or identifiable coins reduced by up to 5 percent, are redeemed at full value. Notes with between one-half and three-fourths remaining are redeemed at half value, while notes with less than one-half remaining or those deliberately damaged are not redeemed. Banks may exercise discretion for force majeure cases or authenticate severely burned currency through assay procedures.
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