What is ‘Not’ Mutilated?

Not mutilated but damaged currency includes any bill that is CLEARLY more than one-half of the original bill, and does not require any special examination or investigation to determine its value. Examples of non-mutilated bills include those that are badly soiled, dirty, defaced, limp, torn or otherwise “worn out.”

Your web site:

“If you have a damaged bill and you have more than half, you can bring it to a commercial bank to be replaced. The bank will then send it to the Fed along with other damaged and worn bills.”

Banks generally do not accept damaged/mutilated currency where some of the bill(s) is/are missing. It must be submitted to the Bureau of Engraving and Printing.

From the Bureau of Engraving and Printing’s web site:

“The Bureau of Engraving and Printing’s Office of Currency Standards processes all requests for reimbursement for damaged United States currency.” “Generally, they reimburse the full face value if clearly more than one-half of the original note remains.”

Damaged Currency
http://www.bep.treas.gov/uscurrency/damagedcurrency.html

How Submit a Claim
http://www.bep.treas.gov/damagedcurrencyclaim.html

From your web site:

“If it’s damaged and you have less than half, you’ll have to send it to the Treasury Department.”

From the Bureau of Engraving and Printing’s web site:

Currency fragments measuring less than one-half are not redeemable.”

- UNLESS –

“50% or less of a note identifiable as United States currency is present, and the method of mutilation and supporting evidence demonstrates to the satisfaction of the Treasury that the missing portions have been totally destroyed.”