Do you have bags of shredded money just sitting around?
Me, neither. But if you do come across a torn or otherwise damaged bill, here is some incredibly random information from the U.S. Treasury:
"The Department of the Treasury, Bureau of Engraving and Printing, redeems partially destroyed or badly damaged currency as a free public service. The Office of Currency Standards... uses experts to examine mutilated currency and will approve the insurance of a Treasury check for the value of the currency determined to be redeemable."
How is that for a job title? Mutilated Currency Expert.
On a related page, there is something called Currency Residue Requirements:
And this all came about when I was searching for information on RME! Revolution Money Exchange promises to exchange money like PayPal, but without fees... They will even pay you a sign-on bonus! It sounds great, but how are they doing this? Are they going to charge fees eventually?