If, however, the currency is more seriously damaged or mutilated, it must be sent to the BEP for examination and identification after which the claimant will be reimbursed for its face value by a U.S. Treasury check. The standards by which mutilated currency can be exchanged at face value are: (1) at least 51% of a currency note is present and identifiable; or (2) 50% or less of a currency note is present and the submitted evidence justifies the method of mutilation and the U.S. Treasury is satisfied that all missing portions of the currency note have been totally destroyed.

Bureau of Engraving and Printing