Torn Dollar Bills Reimbursement

Torn Dollar BillOct 22, 2013: Many a time we have received torn dollar bills when we paid in cash. Sometimes when we were unwilling to accept torn bills we were told that if we take them to a bank, we'd get brand new ones in exchange.

Friends have said that banks do replace torn dollar bills with fresh ones. We have not yet tested this theory in person but are curious to know the reality behind reimbursement of torn dollar bills.

RatsSo we were interested in a story which narrates the experience of a southeast Missouri man trying to get new dollar bills for his booty of $1000 that was happily munched by rodents!

All his money was in denominations of $20 bills placed in an unzipped vinyl bag which he had left on a desk at his home. However during an ice storm last winter and subsequent flooding in March, he had misplaced the bag. Luckily, this August, he eventually found the bag and took it to First Missouri State Bank in Jackson in hopes of covering his losses. We quote the bank manager's response:
Bank manager Michelle Johns said Wednesday she and two staffers picked through rodent droppings and bird feathers and reassembled the bills.

"With that mess, I didn't know if we could do anything with it," Johns said.

The U.S. Mint advised Johns that both sets of serial numbers printed on the bills must be complete to get reimbursement. Johns said mint officials instructed her to send the reassembled bills, the feces and feathers to them in Washington, D.C. The mint will then issue the customer a check for the exact amount the torn money is worth.
This story teaches us that if we are hoping for a reimbursement, we need to keep all the pieces of a torn money bill so that we can completely reassemble both the serial numbers. And perhaps we need to store all evidence behind the tear of the bill too! Else why would the mint ask Johns to ship the feces and feathers to D.C! Any clues or ideas? We are looking forward towards your responses :).

Image Source(s): iStockPhoto

Related Posts