Under the Currency Act (Cap. 69) , mutilated currency notes and coins command no value. No person is entitled to recover from MAS the value of any mutilated currency note or coin.

MAS may, out of goodwill and at its absolute discretion, award value for a mutilated currency note or coin, provided there is no evidence suggesting that the currency note or coin has been wilfully or deliberately mutilated.

Note: It is an offence to mutilate any Singapore notes or coins. If you are aware of any deliberate acts of currency mutilation, you can contact MAS via webmaster@mas.gov.sg or on 6225 5577.

Common Features of Mutilated Currency

Currency notes may be defined as mutilated if they are:

Scorched or burnt

Attacked by pests and insects

Stained by ink, paint or other chemicals

Defaced by markings or writings of words, figures and others

Perforated or portions missing

Coins may be defined as mutilated or damaged if they are:

Scorched or burnt

Stained by ink, paint or other chemicals

Defaced by stamping or engraving

Holed, chipped, cut or dislodged (in the case of bi-metallic coins)

Guidelines for Assessing Mutilated Currency Notes and Coins

In these guidelines, unless the context otherwise requires:

“Mutilated”, in relation to a currency note, includes damaging or defacing or discolouring, whether by contact with water, oil, paint, ink, chemicals or other substances, or by scorching or burning, or by exposing to moisture or heat, or by depredating by insects or other pests or by one or more portions having become missing or physically separated.

“Mutilated”, in relation to a coin, includes damaging or defacing or discolouring, whether by contact with oil, paint, ink, chemicals or other substances, or by scorching or burning, or by exposing to moisture or heat, or by stamping, engraving, holing, knocking, sanding, drilling, welding, filing, plating, denting, warping, chipping, dislodging (in the case of bi-metallic coins), cutting it or splitting it into two or more pieces.

Mutilated Currency Notes

Mutilated currency notes are assessed in two stages.

Stage 1 Assessment Criteria The authenticity of the currency note can be validated.

There is no evidence to suggest that the note has been wilfully or deliberately mutilated, or if the circumstances leading to the mutilation, as provided by the tenderer with supporting evidence, is assessed to be reasonable. If all the criteria in Stage 1 are met, the currency note will be eligible for Stage 2 assessment.

Stage 2 Assessment Criteria For high denomination ($1,000 and $10,000) notes, at least five complete digits or letters of both sets of serial numbers should be present before any refund value is assessed.

The refund value for a mutilated currency note is assessed based primarily on the portion of the note remaining as set out in the table below :- Portion Remaining Refund value At least 2/3 of the original currency note is present Full face value More than 1/3, but less than 2/3, of the original currency note is present Half face value 1/3 or less of the original currency note is present No value Where two or more portions of a currency note are present, the refund value that may be paid will be assessed based on the sum of the individual portions presented, provided there is no evidence to suggest that the portions are from different currency notes.

Notwithstanding the above, a refund of up to full face-value of the original currency note may be paid, if the method of mutilation and supporting evidence demonstrate to the satisfaction of the Authority that the missing portions have been destroyed or will not be awarded any refund value in future.



Example of Mutilated Notes Torn note with more than 2/3 of the original currency note present. Torn note with more than 1/3 but less than 2/3 of the original currency note present. Torn note with less than 1/3 of the original currency note present.

Mutilated Coins

Only coins which have been validated to be genuine can be considered for refund of face-value.

In addition, any refund of face-value will only be considered if there is no evidence to suggest that the coin has been wilfully or deliberately mutilated, or if the circumstances leading to the mutilation, as provided by the tenderer with supporting evidence, is assessed to be reasonable.

Assessment Criteria The assessment for mutilated or damaged coins is as follows: No refund value for coins that are cut, chipped, holed or dislodged (in the case of bi-metallic coins).

No refund value for warped or dented coins.

No refund value for defaced coins.

No refund for dislodged Third Series $1 bi-metallic coins. (As with other bi-metallic coins, the centre piece of the Third Series $1 coin can be forcibly dislodged when extreme force is applied to it.)

Examples of Mutilated Coins Dislodged coin Holed coin Coin defaced by filing Chipped coin Coin defaced by stamping Coin damaged by cutting

What to Do with Mutilated Notes and Coins

You may deposit mutilated notes or coins at any commercial bank where you have a bank account.

For mutilated coins, you may also deposit them at MAS’ appointed circulation coin operator and manager, Certis CISCO Secure Logistics Pte Ltd . The assessed value will be awarded by the bank or Certis CISCO Secure Logistics Pte Ltd according to the above guidelines.

If you have problems getting the mutilated notes and coins accepted by the commercial bank, please take down the name of the bank, bank branch, counter staff name, date and time of visit and send the details to webmaster@mas.gov.sg .