A customer just gave me 2 split dollar bill's - without their second halves. She gave me 2 pieces and apologized, then said "they should work out to a dollar somehow". I thought to myself "with some tape I'm sure they will" and thanked her for the tip. When I started dropping my cash in the safe at the store I realized what I had been handed. It wasn't as simple as "this paper should be worth a dollar."
I hope I can get someone to honor these, if I can, then I actually got more than this customer originally intended to give. Anyone know if there is a standard for accepting damaged bills?
Here is the information I dug up from the Federal Reserve website about the value of damaged currency:
Redeeming Damaged Money
Paper money that has been mutilated or partially destroyed may in some cases be redeemable at full face value. Any badly soiled, defaced, torn, or worn-out currency that is clearly more than half of the original note can be exchanged at a commercial bank, which processes the note through a Federal Reserve Bank. More seriously damaged notes—those with clearly less than half of the original surface or those requiring special examination to determine their value—must be sent to the Department of the Treasury for redemption.
From Federal Reserve Bank of Atlanta. Emphasis added.