Experiment With Damaged $20 Note - Coin Community Forum

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Author	Replies: 7 / Views: 2,339
pattiewhack Pillar of the Community Canada 1152 Posts	Posted 11/18/2009 11:15 pm Last week, I was at a bar with a few of my friends. (Here in Alberta, the legal drinking/bar admittance age is 18- so no, I haven't been "sneaking" into bars) Anyway, at one point, my friend looked down at the floor and saw this note sitting on the ground. He picked it up, and after a brief discussion, the general consensus was that it was worthless and wouldn't be accepted anywhere. I thought otherwise Remembering having read somewhere that the Bank of Canada has a policy to refund bills it deems are still backed, I removed a complete $20 from my wallet, folded it over, and compared the two- a test I have recreated here: As you can see, there is clearly more than half of the ripped $20- and apparently it is bank policy to refund paper money if there is more than $50% of it remaining. After doing some research, I came across a webpage written by the Bank of Canada, with instructions on how to submit damaged paper money for a potential refund. My damaged $20 bill goes into the mail tomorrow... Even if the bank rejects my proposal, its still been fun to try. TO BE CONTINUED! Edited by pattiewhack 11/19/2009 6:11 pm Report this Post to the Staff

DVCollector Bedrock of the Community United States 10045 Posts	Posted 11/19/2009 12:55 am That's sure worth a try--good luck! Report this Post to the Staff
thai-vic Pillar of the Community Thailand 1509 Posts	Posted 11/19/2009 01:15 am And if they only send you $10.50 it's still a result! Bonne chance. Report this Post to the Staff
Peter THOMAS Pillar of the Community Australia 2830 Posts	Posted 11/19/2009 09:35 am best of luck. By way of comparison, here is the Official policy in The Land Down-Under - http://www.rba.gov.au/CurrencyNotes/DamagedNotes/ Peter Report this Post to the Staff
WpgLwr Pillar of the Community Canada 1082 Posts	Posted 11/19/2009 09:38 am I believe you have to actually have both serial numbers, but let's wait and see what they say. Report this Post to the Staff
biokemist6 Bedrock of the Community United States 12437 Posts	Posted 11/19/2009 11:17 am US regulations for the redemption of mutilated currency follow the same >50% rule, that one small flapper should get you over the hump. more than 50% of a note identifiable as United States currency is present; or, 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 http://www.bep.treas.gov/section.cfm/8/39 Report this Post to the Staff
pattiewhack Pillar of the Community Canada 1152 Posts	Posted 11/19/2009 2:30 pm Peter, I like the Aussie way better! Hopefully the BofC pulls through. WpgLwr, I've heard that one before as well... Report this Post to the Staff
pattiewhack Pillar of the Community Canada 1152 Posts	Posted 12/24/2009 10:48 pm Got a letter from the Bank of Canada a few days ago- with a big fat cheque for... $10! Not as good as $20, but hey, I found it on the ground so no complaints! I'll get some pics up tomorrow Report this Post to the Staff
	Replies: 7 / Views: 2,339

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