*The Bureau of Engraving, Secret Service, and the ACD Steering Committee have introduced a new initiative to prevent U.S. retailers, banks, and ATMs from accepting “mutilated” banknotes.
This includes dollar bills that are torn, discolored, or damaged in any way, Diario AS reports. The new policy affects stores like Target, Walmart, Dollar Tree, and Costco. High-denomination notes can also be rejected if they are deemed mutilated.
The new security measures aim to strengthen the U.S. monetary system’s integrity. The Federal Reserve also plans to release updated designs for the $5, $20, $50, and $100 bills in the coming years.
Per Diario AS, “The updated $50 bill will debut in 2028, the $20 bill in 2030, the $5 bill between 2032 and 2035, and the $100 bill between 2034 and 2038,” the outlet writes.
Read below to learn how to identify if your dollar bill is real.
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Here’s more from Diario AS:
How can you tell if your dollar bill is “mutilated”?
Banknotes typically become mutilated due to factors like “fire, misuse, or even deterioration from burying money,” according to the Federal Reserve. Bills with cuts, damaged edges, or discoloration fall into this category.
What should you do with your “mutilated” dollar bills?
If you possess mutilated bills, you’ll need to contact the Bureau of Engraving and Printing. Filing a mutilated currency claim is required. The Bureau provides a step-by-step guide for redeeming such currency.
“The BEP will evaluate the note. They have special tools to examine the authenticity and assess the full value of the note. After they do that, they can issue a check back to the consumer,” a Fed currency representative explains.
According to experts from El Cronista, to identify if your dollar bill is real, you must detect the following characteristics:
- Light-resistant security thread with the inscription “USA”
- 3D security strip that changes when tilting the bill
- Ink that changes color in the lower right corner
- Watermark when observing the bill against the light
- Microprints around the bill
- Embossed printing that gives texture to the bill
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