![]() However, different fates can befall a bill, and there are different processes for handling money depending on what happened to it. paper currency that’s no longer fit for circulation is removed from circulation by the Federal Reserve System. These terms probably elicit images of crisp paper bills or stacks of brand-new bank notes, right?īut what happens to old or worn out money? The bills that are torn, covered in graffiti or at the end of their life cycle - what happens to those? ![]() 30, 2019, has updates on currency inspection numbers. Louis Fed alone inspected over 934 million notes in 2021. The Federal Reserve has 28 cash offices that help ensure currency is fit for circulation.
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