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No, you will not get into trouble with the law for cutting the bills apart and spending the resultant $80. However, the set of 4 uncut $20 bills is almost certainly worth more than $80 to a collector, so you would be losing value if you did so.

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14y ago
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Q: Page of 4 20 dollar bills that are uncut will you get into trouble if you cut them and spend them?
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