1 00:00:01,920 --> 00:00:06,520 Speaker 1: Welcome to brain Stuff production of I Heart Radio. Hey 2 00:00:06,559 --> 00:00:09,920 Speaker 1: brain Stuff, Lauren vocal bomb Here. Let's say you get 3 00:00:09,920 --> 00:00:12,520 Speaker 1: a little forgetful and leave your day planner with tickets 4 00:00:12,560 --> 00:00:14,640 Speaker 1: to a baseball game and two hundred dollars in cash 5 00:00:14,680 --> 00:00:17,520 Speaker 1: on the roof of your car, and that day planner 6 00:00:17,600 --> 00:00:21,320 Speaker 1: just happens to fall off at a railroad crossing. Everything 7 00:00:21,360 --> 00:00:23,640 Speaker 1: gets bangled when the four or five freight train goes 8 00:00:23,680 --> 00:00:26,360 Speaker 1: barreling through the crossing. The baseball tickets are gone, the 9 00:00:26,400 --> 00:00:28,560 Speaker 1: planner is a lost cause, and all that's left of 10 00:00:28,600 --> 00:00:31,560 Speaker 1: the cash is it chewed up twenty dollar bill. You 11 00:00:31,600 --> 00:00:36,720 Speaker 1: can't possibly use it, can you? Or can you? Most 12 00:00:36,840 --> 00:00:40,080 Speaker 1: damaged US cash, whether it's shredded by a train, damaged 13 00:00:40,120 --> 00:00:42,360 Speaker 1: in a flood, or even if your dog eats it, 14 00:00:42,440 --> 00:00:44,920 Speaker 1: is covered through the U. S. Department of Treasuries Bureau 15 00:00:45,000 --> 00:00:49,120 Speaker 1: of Engraving and Printing or b EP, and specifically their 16 00:00:49,200 --> 00:00:53,640 Speaker 1: Mutilated Currency Redemption Service. But it takes a lot for 17 00:00:53,640 --> 00:00:56,960 Speaker 1: a bank note to be considered mutilated. Bills that are dirty, 18 00:00:57,080 --> 00:01:00,480 Speaker 1: limp defaced, torn, or otherwise more than one half intact 19 00:01:00,760 --> 00:01:03,880 Speaker 1: don't go far enough. The b e P two finds 20 00:01:03,960 --> 00:01:08,120 Speaker 1: mutilated currency as bills that have been quote severely damaged 21 00:01:08,280 --> 00:01:11,080 Speaker 1: to the extent that its value is questionable or security 22 00:01:11,080 --> 00:01:14,560 Speaker 1: features are missing. That means that the twenty dollar bill 23 00:01:14,600 --> 00:01:17,600 Speaker 1: from our railroad example is simply torn. It's no problem, 24 00:01:17,959 --> 00:01:21,360 Speaker 1: get out the tape and spend away. But let's say 25 00:01:21,400 --> 00:01:24,000 Speaker 1: you find a cache of cash buried in your yard. 26 00:01:24,200 --> 00:01:26,839 Speaker 1: I mean that happens all the time, right. The bills 27 00:01:26,840 --> 00:01:29,440 Speaker 1: have deteriorated to the point that security features such as 28 00:01:29,480 --> 00:01:32,440 Speaker 1: the water marks, color shifting, inc security thread, or three 29 00:01:32,520 --> 00:01:36,040 Speaker 1: D security ribbon are no longer visible or have been destroyed. 30 00:01:36,760 --> 00:01:41,679 Speaker 1: Now things are a little more complicated in cases like this. Again, 31 00:01:41,720 --> 00:01:44,400 Speaker 1: this happens all the time, right. You'd have to submit 32 00:01:44,440 --> 00:01:47,440 Speaker 1: what's called a mutilated currency claim to the b EP. 33 00:01:48,280 --> 00:01:51,320 Speaker 1: It's basically a letter describing how the currency got damaged. 34 00:01:51,760 --> 00:01:55,480 Speaker 1: You'd include its estimated value and other contact information, including 35 00:01:55,520 --> 00:01:58,920 Speaker 1: your banking information. You also need to send the money 36 00:01:58,960 --> 00:02:01,880 Speaker 1: to the b EP, where they will examine it. This 37 00:02:01,920 --> 00:02:04,480 Speaker 1: process can take anywhere from six months to three years, 38 00:02:04,520 --> 00:02:08,680 Speaker 1: depending on how complicated the case and how damaged the currency. 39 00:02:09,280 --> 00:02:12,160 Speaker 1: The Treasury Department has guidelines on its website about how 40 00:02:12,160 --> 00:02:15,079 Speaker 1: to package up the cash for shipping. But in general 41 00:02:15,160 --> 00:02:17,320 Speaker 1: you'll need to send it in the exact same condition 42 00:02:17,360 --> 00:02:19,799 Speaker 1: you found it. If the currency was flat, to keep 43 00:02:19,840 --> 00:02:21,680 Speaker 1: it that way. If it was in a roll, don't 44 00:02:21,680 --> 00:02:25,680 Speaker 1: try to straighten it. One caveat defaced coins shouldn't be 45 00:02:25,720 --> 00:02:28,639 Speaker 1: sent with paper currency coins go to the U. S. 46 00:02:28,680 --> 00:02:31,840 Speaker 1: Mint for evaluation and are not redeemable for cash value, 47 00:02:32,120 --> 00:02:36,480 Speaker 1: only the value of the metal. So how much can 48 00:02:36,520 --> 00:02:39,480 Speaker 1: you get back for your damaged cash? That depends on 49 00:02:39,560 --> 00:02:44,000 Speaker 1: what the b EP examiner finds. Treasury Department regulations state 50 00:02:44,040 --> 00:02:46,760 Speaker 1: that US currency can be exchanged for full value if 51 00:02:46,760 --> 00:02:49,519 Speaker 1: more than fifty of the bill is identifiable as US 52 00:02:49,600 --> 00:02:54,120 Speaker 1: currency and enough of any relevant security features remain, or 53 00:02:54,160 --> 00:02:56,800 Speaker 1: I or less of the bill is present, and Treasury 54 00:02:56,800 --> 00:03:00,960 Speaker 1: examiners are convinced that the missing portions have been destroy 55 00:03:01,800 --> 00:03:04,880 Speaker 1: The U. S. Treasury Department handles about thirty thousand mutilated 56 00:03:04,919 --> 00:03:08,320 Speaker 1: currency claims annually, valued at more than thirty million dollars. 57 00:03:08,960 --> 00:03:12,079 Speaker 1: The most common causes for damaged currency are fire, water, 58 00:03:12,360 --> 00:03:16,280 Speaker 1: exposure to chemicals and explosives, damage from rodents, animals, or insects, 59 00:03:16,440 --> 00:03:25,880 Speaker 1: and deterioration or petrification from burial. Today's episode was written 60 00:03:25,880 --> 00:03:29,120 Speaker 1: by Patty Resmussen and produced by Tyler Clang. Brain Stuff 61 00:03:29,160 --> 00:03:31,440 Speaker 1: is production of I Heart Radio's How Stuff Works. For 62 00:03:31,480 --> 00:03:33,320 Speaker 1: more on this and lots of other topics, visit our 63 00:03:33,360 --> 00:03:35,960 Speaker 1: home planet, how stuff Works dot com and for more 64 00:03:36,000 --> 00:03:39,320 Speaker 1: podcasts from my heart radio, I heart Radio app, Apple Podcasts, 65 00:03:39,360 --> 00:03:41,000 Speaker 1: or wherever you listen to your favorite shows.