On average, BEP receives more than 22,000 requests for examination of mutilated currency for possible redemption each year, with an estimated value in excess of $35 million.
Mutilated currency is currency which has been damaged to the extent that one-half or less of the original note remains, or its condition is such that its value is questionable. Currency notes can become mutilated in any number of ways. The most common causes are fire, water, chemicals, and explosives; animal, insect, or rodent damage; and petrification or deterioration by burying.
See Also
Q&A Legal Tender