Just how is worn out US paper money removed from circulation?
291fifth
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Are sorting machines able to detect wear and obsolete designs and pull out such notes automatically?
Where is this process actually done? Do individual banks play any role?
Where are the worn notes sent for destruction and just how are they destroyed in 2021?
All glory is fleeting.
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Good reading - https://www.banknoteworld.com/blog/old-currency-what-really-happens-in-its-afterlife/
@mbwizkid
Thanks for the link. Never really gave that much thought.
years ago, I toured the Fed in NY and watched some poor sorters sitting with piles of bills sorting bad notes by hand..no scanners, etc...just a counter that they slid the bad ones into...imagine 8 hr shifts day after day!
**https://sites.google.com/view/notaphilycculture/collecting-banknotes **
Thanks for the link.
Great question... I have witnessed tellers looking at bills before giving them to me. I have seen some pulled and they did not look old and I suspect counterfeiting might be the greater concern
Experience the World through Numismatics...it's more than you can imagine.
It doesn't seem like they're removing as much worn out currency from circulation as in the past. The last year or two it seems like I received much more worn out bills than usual, even from ATMs.
I visited the FRB of Kansas City a few years ago. It is now done by machine. The machine counts, sorts, detects obsolete currency and worn currency not fit circulation.