Mangled money may still have value

Heloise
Heloise

Dear Readers: Do you have paper money that is terribly mangled, soiled or torn up? Rodents, insects, fire, water, buried in the backyard all of these things can damage cash to the point that it is unusable. Don't worry, though. The money is more than likely replaceable.

A division of the U.S. Treasury Department, the Bureau of Engraving and Printing (bep.gov) can replace mutilated paper money. 

Here are some of their guidelines:

You must either have at least 50% of the bill or, if less than 50%, the cause of mutilation must be evident.

Don't handle the money any more than necessary and don't unroll or straighten the money either.

Write a letter estimating the value of the currency, include your contact information and an explanation of how the mutilation occurred.

It can take a long time to valuate these claims; have patience. - Heloise

P.S. Coins that are damaged are returnable to, and replaceable through, the United States Mint (usmint.gov).

 

Emergency Cash

Dear Heloise: My friends all tell me to have a credit card for emergencies. I had a better idea. I worked extra and sold some things I don't use and was able to save $1,000. This is a good beginning emergency fund. And cash is cash - no interest! - Shelly in Pennsylvania

Shelly, a smarter way to go! Avoiding debt is always a good idea. - Heloise

 

King Features Syndicate

 

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