FACT CHECK: Will Dollar Bills Printed Before 2021 Be Banned Starting January 2023?

Christine Sellers | Fact Check Reporter

A post shared on Facebook purports all U.S. dollar bills printed before 2021 will be banned starting January 2023.

Verdict: False

The claim is false. There is no evidence to suggest U.S. dollar bills printed before 2021 will be banned.

Fact Check:

The Treasury Department announced sanctions on Mexican drug trafficking organization La Nueva Familia Michoacana Thursday, the Washington Times reported. Earlier in the week, the department announced sanctions on Russian electronics as the war between Russia and Ukraine continues, The Hill reported.

The Facebook post purports that U.S. dollar bills printed before 2021 will be banned starting January 2023. These bills “#JUST:IN!!!!! Any US Dollar Notes Below Year 2021 Will Not Be Acceptable From January 2023,” the post’s text reads in part.

The claim is false. There are no credible news reports suggesting U.S. dollar bills printed before 2021 will be banned. The Treasury Department has not mentioned the claim via its website or verified social media accounts. Likewise, neither Treasury Secretary Janet Yellen nor President Joe Biden has publicly commented on the claim.

Although the purported claim is false, the Federal Reserve indicates dollar bills in poor condition are “taken out of circulation and destroyed.” Dollar bills of larger value, such as $100 dollar bills, also tend to have a longer estimated lifespan than bills of smaller value, according to the Fed.

However, older dollar bills “remain legally valid for payments, regardless of when they were issued,” under government policy, according to the U.S. Currency Education Program. The policy applies to dollar bills of all values, beginning with those issued in 1914, the program indicates. (RELATED: Did The Federal Reserve Put Up Walls Around Its Building Ahead Of The 2022 Midterms?)

Check Your Fact has contacted a Treasury Department spokesperson for comment and will update this piece accordingly if one is received.

This is not the first time a false claim about U.S. currency has circulated on social media. Check Your Fact previously debunked a post purporting an executive order from Biden would replace cash with digital currency by December 2022.

Christine Sellers

Fact Check Reporter

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