Savings Bonds

Q: My local bank directed me to the Federal Reserve for cashing in Series EE and I bonds. Is that correct?

A: Unfortunately, Federal Reserve Bank offices no longer work directly with the public for the redemption of bonds or other certificates. You can take U.S. savings bonds from any series to your local commercial bank for redemption. We recommend consulting the branch manager for assistance.

We also suggest visiting the TreasuryDirect website for any additional questions about savings bonds. 

Q: I want to buy a Treasury note but am apprehensive about transferring money online. How do I buy direct in person? Where and how can I buy Treasury bills?

A: Unfortunately, Federal Reserve Bank offices no longer work directly with the public for any transactions involving bonds or other types of certificates/notes. Please consult your local bank branch for assistance to purchase in person or visit the TreasuryDirect website for more information.

Q: I have a gold bullion bond from 1934. How, when, and where can I use it?

A: Unfortunately, gold bullion bonds have no value. Please visit the TreasuryDirect website for more information. TreasuryDirect also has a Contact Us page for questions.

Currency/Coin

Q: Can a local bank refuse to accept currency that has a torn corner? Specifically, a local bank has rejected two notes, each of which is missing approximately 20 percent of the bill. Both serial numbers are fully intact. My understanding is that if more than 50 percent of a note remains, it is still considered to be legal tender.

A: Per the Bureau of Engraving and Printing’s website, you are correct in your assessment that if more than 50 percent of a partial note remains, it is considered “unfit” and can be exchanged at any commercial bank. However, a local bank may refuse to accept these notes based on its own procedures. We recommend speaking directly to the manager of the branch office where you are attempting to exchange or deposit the notes.

For additional information about mutilated and unfit currency, see the Mutilated Currency FAQs page on the Bureau of Engraving and Printing’s website.

Q: Can I buy a canvas bag of pennies directly from the Federal Reserve?
Q: Can I buy a box of circulated half dollars from the Federal Reserve?
Q: I am interested in obtaining a Series 2024 $2 note. How would I go about doing this?

A: Federal Reserve Bank offices do not work directly with the public. We recommend working with your commercial bank branch manager for any special requests.

Q: I bought some copies of $1 million bills. Two of them are encased in plastic, and the other is in paper form. Are these bills worth anything?

A: Unfortunately, $1 million notes are not legal U.S. currency and have never been printed by the Bureau of Engraving and Printing (BEP). These notes are simply a novelty item.

For more information on U.S. currency, visit USA.gov and the BEP’s website.

Q: I have various denominations of paper money in uncut sheets that I purchased years ago. How can I cash in those bills or have them cut for use?

A: We recommend that you contact the Bureau of Engraving and Printing (BEP) for guidance, since the BEP sells/issues uncut paper currency sheets.