Banknote Lifespan Is Determined By Denomination
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Shared by Presentationally
on Sep 13, 2016
in Finance
Banknote lifespan is determined by denomination. $5 bills get exchanged far more often than $100 bills (which are often retained for their value) and therefore, wear and tear takes its toll much earlier. The US Federal Reserve gauges the state of...
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Banknote lifespan is determined by denomination. $5 bills get exchanged far more often than $100 bills (which are often retained for their value) and therefore, wear and tear takes its toll much earlier. The US Federal Reserve gauges the state of paper money through sophisticated processing equipment to determine its remaining lifespan. Any notes lacking in quality are then removed from circulation and destroyed.