Fire and Smoke Damage: Replacing Money

1/3/2022 (Permalink)

If your home or business suffers soot and smoke damage after a fire, give SERVPRO a call. Our team of fire damage experts will restore it efficiently.

Money To Replace After A Fire Or Smoke Damage

When most people think of smoke damage, they typically think of structural damage or even damage to artwork and other material goods. However, how often do they consider currency? Money is often damaged in fires, and people are often left confused about how to handle replacement. Unfortunately, some may even chalk it up as a lost cause. Fortunately, money can be replaced when damaged but you need to have evidence of the damage.

1. Preserving Damaged Bills

In order to present evidence, you need to preserve the money. You should first take a picture of the money in the location it was damaged. Then, you can try to wrap each bill in plastic wrap to mitigate any further damage.

2. Exchanging at a Federal Reserve Bank

As smoke damage can lead to irreversible damage and even the inability to read the value of the bill, you should exchange any damaged money. However, you cannot trade the bills at any bank. You will need to find your regional Federal Reserve Bank or mail the bills to the Bureau of Engraving and Printing.

3. Handling Damaged or Melted Coins

While most soot damage can be cleaned from coins, some coins may have melted or been damaged in the fire. Again, you will need to replace these at your regional Federal Reserve Bank, or you can mail coins to the U.S. Mint.

4. Calling for Assistance

As a specialist in smoke cleaning, a fire remediation specialist in the Louisville, CO, area may be able to help you find numbers and details of damaged money experts. You can also reach out to your regional Federal Reserve Bank or contact the Department of the Treasury directly.

Fire and smoke damage can leave money unusable. Fortunately, you can replace marred currency through the appropriate channels, as long as you have the bills or coins to prove the damage.