What happens to very old money/bills? Do they just get used until the last person gets it and it eventually disintegrates?
In: Other
Officially, when banks receive bills in poor condition, they can send them to Fed as “mutilated” for replacement.
Unofficially, enforcement of Fed’s standard for “mutilated” is… capricious. Wife claims she sent bills in her capacity as Vault Teller that were basically dishrags for replacement and promptly got them back.
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