Scott Gottlieb, CPA

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NEWS BYTES
October 2000

Editor: Scott Gottlieb, CPA
Assistant editor: Susan A. Maffetone, CPA

Do you have dollar bills that are mutilated?

All of us have had a dollar bill rip or become destroyed through no fault of our own. Maybe the dog got it. Maybe it was loaded into the wash. What should you do when dollar currency gets mutilated.

The Department of the Treasury, Bureau of Engraving and Printing, redeems partially destroyed or badly damaged currency as a free public service.

Badly soiled, dirty, defaced, disintegrated, limp, torn, worn, out currency note that is More than one-half of the original note, and does not require special examination to determine its value should be exchanged through your local bank and processed by the Federal Reserve Bank.

Currency is considered mutilated when the Currency notes are: NOT CLEARLY more than one-half of the original note and/or, - in such condition that the value is questionable and special examination is required to determine its value.

Currency can become mutilated in any number of ways. The most common causes are: fire, water, chemicals, explosives; animal, insect or rodent damage; and petrification or deterioration by burying.

Mutilated currency may be mailed or personally delivered to the Bureau of Engraving and Printing. When mutilated currency is submitted, a letter should be included stating the estimated value of the currency and an explanation of how the currency became mutilated. Each case is carefully examined by an experienced mutilated currency examiner. For more information visit the website of Department of the Treasury Bureau of Engraving and Printing or write to:

Department of the Treasury Bureau of Engraving and Printing
Office of Currency Standards
P. O. Box 37048
Washington, D. C. 20013

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The materials on this Web site are for informational purposes only and are not intended and should not be construed as accounting advice. This information is not intended to create, and receipt of it does not constitute, a CPA-Client relationship. You should not act upon this information without seeking counsel from a Certified Public Accountant