Federal · Title 31 — Money and Finance
31 U.S.C. § 5120: Obsolete, mutilated, and worn coins and currency
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obsolete and worn coins and the metal from melting the coins. proceeds from the sale of the metal. losses incurred in the sale of the metal. losses incurred because of the difference between the face value of the coins melted and the coins minted from the metal. The Secretary shall reimburse the coinage metal fund for losses under paragraph (1)(C) and (D) of this subsection out of amounts in the coinage profit fund under section 5111(b) of this title . cancel and destroy (by a secure process) obsolete, mutilated, and worn United States currency withdrawn from circulation; and dispose of the residue of the currency and notes. The Comptroller General shall audit the cancellation and destruction of United States currency and the accounting of the cancellation and destruction. Records the Comptroller General considers necessary to make an effective audit easier shall be made available to the Comptroller General.
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