Redemption is the act of exchanging uncurrent or mutilated coins for new coins.

The U.S. Treasury website indicates: "Uncurrent coins are whole, but are worn or reduced in weight by natural abrasion. They are easily recognizable as to genuineness and denomination, and they are such that coin sorting and counting machines will accept them. Merchants and commercial banks will generally accept or refuse these coins at their discretion. However, Federal Reserve Banks and branches handle the redemption of uncurrent coins. Uncurrent coins are replaced with new coins of the same denomination by the Federal Reserve Banks, then forwarded to the United States Mint. Mutilated coins, on the other hand, are coins that are bent, broken, not whole, or fused or melted together."

Redemption was a more pressing concern in the era of gold and silver coinage. The U.S. government periodically made allowance to accept underweight coin (mutilated or worn by abrasion) and provide full weight coinage in return. See, for example, the United States Mint Director's report for 1891, where $150,000 was allocated for this expense.