CLAIM: US$20 notes from before 2017 and US$100 from before 2003 are no longer legal tender in the USA
VERDICT: False. The US Federal Reserve says US dollar notes do not expire, whatever year they were issued
On 26 March, 2020, the Zimbabwe government announced that the use of foreign currency would now be allowed for local transactions. Under further regulations issued on June 17, retailers and other service providers are also required to display prices in both the US dollar and the Zimbabwe dollar.
However, some retailers have rejected some US dollar notes, based on when they were issued. A widely circulated social media post also claims: “Don’t accept US$20 notes from 2015 they are banned in America or US$100 from before 2003”.
But do US dollar notes expire? Are there any US dollar notes that are no longer legal tenders in the USA? No. This is false.
According to the US Federal Reserve, which is America’s central bank, while note designs may change, the notes do not expire. They remain valid.
“Each note includes security and design features unique to how the denomination is used in circulation. The US government periodically redesigns Federal Reserve notes to make them easier to use, but more difficult to counterfeit. It is US government policy that all designs of U.S currency remain legal tender, regardless of when they were issued. This policy includes all denominations of Federal Reserve notes, from 1914 to the present,” the Federal Reserve says through its US Currency Education Program, a platform for information on US dollar notes.
This is not the first time such claims have been made in Zimbabwe. In 2009, when Zimbabwe formally adopted the multicurrency system, there were rumours that US dollar notes from before 2000 were no longer valid. This was also dismissed by the US embassy.
“Members of the public are advised that older series of US currency remain legal tender in the United States and elsewhere. US bank notes do not expire,” the Embassy said then.
There are also no Reserve Bank of Zimbabwe regulations that bar the usage of older series US dollar notes.
CONCLUSION
It is not true that US dollar notes expire. Once issued, US dollar notes remain legal tender.
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