Monetary Authority of Singapore
KNOW
YOUR
MONEY
Refund of
Mutilated
Notes and
Coins
CONTENTS
REFUND OF MUTILATED NOTES AND COINS ..................... 3
6.1
Common Features Found in Mutilated Notes and Coins ............................. 3
6.2
Guidelines for Assessment of Mutilated Notes and Coins ........................... 3
REFUND OF MUTILATED NOTES AND COINS
6.1
Common Features Found in Mutilated Notes and Coins
Notes of the following descriptions may be defined as mutilated:





Scorched or burnt.
Attacked by pests and insects.
Stained by ink, paint, chemical etc
Defaced by marking or writing of words, figures etc
Perforated or portions missing.
Coins may be defined as mutilated or dirty/damaged if they are:




6.2
Tarnished, scorched or burnt.
Stained by ink, paint, chemical etc
Defaced by stamping or engraving.
Holed, chipped or cut.
Guidelines for Assessment of Mutilated Notes and Coins
Under Section 19(1) of the Currency Act, no person is entitled to recover from
MAS the value of any mutilated note and coin. MAS is empowered to award value at
its absolute discretion as an act of grace under Section 19(2). Under Section 19(3),
notes and coins that have been illegally dealt with shall be repossessed by any
officer of MAS when tendered for assessment.
Notes and coins are considered illegally dealt with if they are impaired,
diminished or affected otherwise than by fair wear and tear. Notes that have been
defaced by writing or impressing with any mark, word, letter or figure or by
perforation, cutting, splitting or in any other manner, are also deemed as illegally
dealt with and command no value.
The guidelines on assessment and award of mutilated notes and coins are as
follows:
‘Orchid’, ‘Bird’ and ‘Ship’ Series (Past series)

Full value will be awarded if both sets of serial numbers are intact and
half value if only one set of serial numbers is intact. The serial number
is considered to be intact if at least four out of the seven digits appear
in full. The prefix is to be treated as one digit.
KNOW YOUR MONEY
3
‘Portrait’ Series (Current series)





Half value is given to each set of serial number with at least 5 full
numbers/letters out of 9.
No value for intentionally scratched kinegram.
No value for wilful removal of kinegram.
No value for wilful disfigurement of the portrait.
No value for specimen notes – serial numbers of the specimen notes
are printed in red.
Coins



No value for cut, chipped or holed coins.
No value for warped or dented coins.
No value for defaced or split coins.
KNOW YOUR MONEY
4