Can You Deposit Damaged Coins at Banks? Here's What You Need to Know

Discover if banks accept damaged coins, how to deposit them, and what to do with severely damaged ones.

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Yes, banks do accept damaged coins. You can deposit them or exchange them for undamaged ones at most banks. Ensure they are identifiable and that more than 50% of the coin is present. For severely damaged or mutilated coins, you might need to visit a branch handling such cases or contact your country's central bank for specific instructions.

FAQs & Answers

  1. What condition do damaged coins need to be in for banks to accept them? Most banks will accept coins as long as more than 50% of the coin is recognizable.
  2. What should I do with extremely damaged coins? For severely damaged coins, contact your central bank or visit a branch that handles such cases.
  3. Can I exchange damaged coins for undamaged ones? Yes, you can typically exchange damaged coins for undamaged ones at most banks.
  4. Does every bank have the same policy regarding damaged coins? Policies can vary by bank, so it's best to check with your specific bank for their guidelines.

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