WEBVTT - What Can You Do If Your U.S. Money Gets Mangled? 

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<v Speaker 1>Welcome to brain Stuff production of I Heart Radio. Hey

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<v Speaker 1>brain Stuff, Lauren vocal bomb Here. Let's say you get

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<v Speaker 1>a little forgetful and leave your day planner with tickets

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<v Speaker 1>to a baseball game and two hundred dollars in cash

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<v Speaker 1>on the roof of your car, and that day planner

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<v Speaker 1>just happens to fall off at a railroad crossing. Everything

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<v Speaker 1>gets bangled when the four or five freight train goes

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<v Speaker 1>barreling through the crossing. The baseball tickets are gone, the

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<v Speaker 1>planner is a lost cause, and all that's left of

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<v Speaker 1>the cash is it chewed up twenty dollar bill. You

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<v Speaker 1>can't possibly use it, can you? Or can you? Most

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<v Speaker 1>damaged US cash, whether it's shredded by a train, damaged

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<v Speaker 1>in a flood, or even if your dog eats it,

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<v Speaker 1>is covered through the U. S. Department of Treasuries Bureau

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<v Speaker 1>of Engraving and Printing or b EP, and specifically their

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<v Speaker 1>Mutilated Currency Redemption Service. But it takes a lot for

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<v Speaker 1>a bank note to be considered mutilated. Bills that are dirty,

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<v Speaker 1>limp defaced, torn, or otherwise more than one half intact

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<v Speaker 1>don't go far enough. The b e P two finds

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<v Speaker 1>mutilated currency as bills that have been quote severely damaged

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<v Speaker 1>to the extent that its value is questionable or security

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<v Speaker 1>features are missing. That means that the twenty dollar bill

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<v Speaker 1>from our railroad example is simply torn. It's no problem,

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<v Speaker 1>get out the tape and spend away. But let's say

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<v Speaker 1>you find a cache of cash buried in your yard.

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<v Speaker 1>I mean that happens all the time, right. The bills

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<v Speaker 1>have deteriorated to the point that security features such as

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<v Speaker 1>the water marks, color shifting, inc security thread, or three

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<v Speaker 1>D security ribbon are no longer visible or have been destroyed.

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<v Speaker 1>Now things are a little more complicated in cases like this. Again,

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<v Speaker 1>this happens all the time, right. You'd have to submit

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<v Speaker 1>what's called a mutilated currency claim to the b EP.

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<v Speaker 1>It's basically a letter describing how the currency got damaged.

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<v Speaker 1>You'd include its estimated value and other contact information, including

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<v Speaker 1>your banking information. You also need to send the money

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<v Speaker 1>to the b EP, where they will examine it. This

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<v Speaker 1>process can take anywhere from six months to three years,

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<v Speaker 1>depending on how complicated the case and how damaged the currency.

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<v Speaker 1>The Treasury Department has guidelines on its website about how

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<v Speaker 1>to package up the cash for shipping. But in general

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<v Speaker 1>you'll need to send it in the exact same condition

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<v Speaker 1>you found it. If the currency was flat, to keep

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<v Speaker 1>it that way. If it was in a roll, don't

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<v Speaker 1>try to straighten it. One caveat defaced coins shouldn't be

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<v Speaker 1>sent with paper currency coins go to the U. S.

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<v Speaker 1>Mint for evaluation and are not redeemable for cash value,

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<v Speaker 1>only the value of the metal. So how much can

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<v Speaker 1>you get back for your damaged cash? That depends on

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<v Speaker 1>what the b EP examiner finds. Treasury Department regulations state

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<v Speaker 1>that US currency can be exchanged for full value if

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<v Speaker 1>more than fifty of the bill is identifiable as US

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<v Speaker 1>currency and enough of any relevant security features remain, or

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<v Speaker 1>I or less of the bill is present, and Treasury

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<v Speaker 1>examiners are convinced that the missing portions have been destroy

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<v Speaker 1>The U. S. Treasury Department handles about thirty thousand mutilated

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<v Speaker 1>currency claims annually, valued at more than thirty million dollars.

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<v Speaker 1>The most common causes for damaged currency are fire, water,

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<v Speaker 1>exposure to chemicals and explosives, damage from rodents, animals, or insects,

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<v Speaker 1>and deterioration or petrification from burial. Today's episode was written

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<v Speaker 1>by Patty Resmussen and produced by Tyler Clang. Brain Stuff

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<v Speaker 1>is production of I Heart Radio's How Stuff Works. For

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<v Speaker 1>more on this and lots of other topics, visit our

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