This weeks Top Five on Money and Credit

In this weeks Top 5 on Money and Credit-

1. The Frugal Law Student talks about 4 Symptoms of Living Beyond Your Means


2. Fil-am Personal Finance posts some thoughts about Breaking The Financial Illiteracy Cycle in Your Family


3. Generation X Finance gives you 10 Tips to make sure you're not getting hosed by a car salesman


4. Ten Common Tactical Mistakes When Dealing With The Credit Score Blues is an oldie but goodie from The Simple Dollar


5. Some thoughts about why you should work smart and not hard from Money Smart Life

Mutilated Money

Ever wonder what to do with your torn or otherwise 'mutilated currency? If you have more than half of the note, you can go to any credit union or bank and exchange it. But if you have less than half, or if the money meets the Treasury's definition of 'mutilated, you'll need to send it into the Dept. of the Treasury.

This is from the Bureau of Engraving and Printing.

Mutilated currency may be mailed or personally delivered to the Bureau of Engraving and Printing. When mutilated currency is submitted, a letter should be included stating the estimated value of the currency and an explanation of how the currency became mutilated. Each case is carefully examined by an experienced mutilated currency examiner. The amount of time needed to process each case varies with its complexity and the case workload of the examiner.

The Director of the Bureau of Engraving and Printing has the final authority for the settlement of mutilated currency claims.

Although Treasury examiners are usually able to determine the amount and value of mutilated currency, careful packaging is essential to prevent additional damage.

The following procedures should be applied when packing mutilated currency:

1. Regardless of the condition of the currency, Do Not Disturb the fragments any more than is absolutely necessary.
   
2. If the currency is brittle or inclined to fall apart, pack it carefully in plastic and cotton without disturbing the fragments and place the package in a secure container.
   
3. If the currency was mutilated in a purse, box, or other container, it should be left in the container to protect the fragments from further damage.
   
4. If it is absolutely necessary to remove the fragments from the container, send the container along with the currency and any other contents that may have currency fragments attached.
   
5. If the currency was flat when mutilated, do not roll or fold the notes.
   
6. If the currency was in a roll when mutilated, do not attempt to unroll or straighten it out.
   
7. If coin or any other metal is mixed with the currency, carefully remove it. Any fused, melted, or otherwise mutilated coins should be sent to the following address for evaluation:
   
   
   
   Superintendent
   
   U. S. Mint
   
   Post Office Box 400
   
   Philadelphia, PA. 19105

For cases that are expected to take longer than 4 weeks to process, the Bureau of Engraving and Printing will issue a written confirmation of receipt.

MAILING ADDRESS
Department of the Treasury
Bureau of Engraving and Printing
Office of Currency Standards
P. O. Box 37048
Washington, D. C. 20013

All mutilated currency should be sent by "Registered Mail, Return Receipt Requested." Insuring the shipment is the responsibility of the sender.

Personal deliveries of mutilated currency to the Bureau of Engraving and Printing are accepted between the hours of 8:00 A.M. and 2:00 P.M., Monday through Friday, except holidays. The Office of Currency Standards is located at 14th and C Streets, S. W., Washington, D. C.

To obtain information about your mutilated currency shipment, please contact the Mutilated Currency Division using any of the following numbers:
1-866-575-2361 (toll-free)
202-874-2501
202-874-2595
202-874-2141