What happens to very old money/bills? Do they just get used until the last person gets it and it eventually disintegrates?
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Banks can send old bills to the Federal Reserve for replacement. So as old bills get deposited, the Fed will give the bank fresh bills and destroy the old bills afterwards. This is how most bills get destroyed.
If you have any old money or money that has been damaged (with at least 50% of the bill in tact) banks will replace those for you.
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