How old is that torn and crumpled dollar bill in your wallet? The vast majority of people don't really dwell on the lifespan of their banknotes but the numbers behind it are actually pretty interesting.
According to the US Federal Reserve, the wear and tear of paper money is gauged by sophisticated processing equipment in order to determine its remaining lifespan. Those not up to scratch are removed from circulation and destroyed.
Banknote lifespan is determined by denomination and public use. For example, $100 bills aren't exchanged as often as $5 bills - more often than not, they're retained for their value and don't get passed across the counter as regularly as smaller denominations. As a result, the average lifespan of a $100 bill is 15 years while a $5 bill lasts just 4.9 years.
Dollar bills last just under 6 years on average while the $20 bill has a relatively healthy lifespan at 7.7 years.
*Click below to enlarge (charted by Statista)
