◼ When is a bank note considered to be unacceptable due to its wear rather than due to damage?
The Federal Reserve System’s Cash Product Office gives a nebulous statement that a note can be considered to be no longer suitable for further circulation due to it being torn, dirty, or worn until the note is limp.
◼ If a bank note is in really bad shape can I redeem it at a local bank, or must I return it to the U.S. Treasury?
According to the Federal Reserve Bank’s website FRBServices.org: “Any badly soiled, dirty, defaced, disintegrated, limp, torn or worn out currency note that is clearly more than one-half of the original note, and does not require special examination to determine its value, is not considered mutilated and…
