Is a ripped dollar bill still good?

As long as more than half the original note is clearly intact, a damaged bill may be redeemed at a local bank. Pieces of currency that are not clearly more than half of the original note can be sent to the government for evaluation.

The Department of the Treasury, Bureau of Engraving and Printing, examines bills that are less than one half the original note and determines whether the missing portions have been sufficiently destroyed. The average lifespan of a $1 bill is 18 months in circulation before it needs to be sent back to the Treasury to be replaced.