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Distribution Of Classic Coins To Banks?

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arkmanxx's Avatar
United States
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 Posted 02/15/2013  1:21 pm Show Profile   Bookmark this topic Add arkmanxx to your friends list Get a Link to this Message Number of Subscribers
I've been following posts on the message boards for a while and I'm curious about some history.

How were new coins packaged for distribution to banks from the US Mint branches in the 19th century or early 20th century? Did the US Mint always place coins in bags and then send them to bank branches? I know Morgan/Peace Dollars were distributed in bags (hence the problem of contact marks), but what about smaller denominations?

When did it become standard for coins to be packaged into a roll for consumers in specific dollar amounts (ex. 50 dimes = 1 roll = $5)?
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solotime's Avatar
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 Posted 02/16/2013  12:55 am  Show Profile   Bookmark this reply Add solotime to your friends list Get a Link to this Reply
I think coins been in bags till 1930's. Then they came out with rolls. I'm not sure about this though. It's a tough question.


Edited by solotime
02/16/2013 12:55 am
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jakeW's Avatar
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 Posted 02/16/2013  10:20 am  Show Profile   Bookmark this reply Add jakeW to your friends list Get a Link to this Reply

That is a good question, I would also like to know.
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ghostrider's Avatar
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 Posted 02/16/2013  12:27 pm  Show Profile   Bookmark this reply Add ghostrider to your friends list Get a Link to this Reply
I would tend to believe that the switch came about due to convenience for the banks dealing with their customers. After all it is easier for a small business owner to get 2 rolls of pennies rather than getting 100 loose ones.

However, I do wonder where in the distribution process do the coins gets put into the convenient rolls. Currently I don't think that this happens at the mint but at either the FRB or at the various coin processing business such as Brinks, Dunbar, Loomis or whereever.;

My thinking about where in the modern process goes to the fact that the mint does have a program of distributing bags of quarters in 100,000 or so coin bags on special pallets in kevlar bags. It would be nice to see such a bag but to own such a quantity of coins is well beyond the pale of what I could afford. Besides I think my wife would bury me under that stack and then proceed to cash them in cursing me all the time as she rolls the coins for deposit. (That would be my revenge!!)
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westcoin's Avatar
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9792 Posts
 Posted 02/16/2013  4:59 pm  Show Profile   Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
I don't think the US Mint ever rolled coins, with an exception of the special collector rolls they sell. I know the Armored car companies have been doing it for the most part of 2 decades now. They figured since there are two guys sitting in the back all day, give them a rolling machine and keep them busy since their on the clock already. The mint shipped cents in large tubs to the Federal Reserve distribution hubs, they may be doing the rolling or more likely bagging them up. Rolling is almost all done by banks and armored car companies. Please correct me if I'm wrong anybody. I was told about the large containers that the cents shipped in by the director of the Denver mint while on a tour of the facility with some ANA members and employees.

Oh and I forgot.... to CCF Great first post! Hope you stick around.
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Edited by westcoin
02/16/2013 5:01 pm
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Conder101's Avatar
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 Posted 02/16/2013  8:00 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
You are correct about the tubs. For the most part they've used bage, but in the 80's (I believe) they also used bulk tubs that would be the equivalent 0f multiple bags. Later they went to the current Ballistic Bags which hold around a ton of coins. In the very early years cents and Half Cents were distributed in kegs. (The same type as what the planchets were delivered in.) Up until 1837 much of the silver was not delivered to banks because it came from individual depositors of bullion and was returned to them. Much of the deposits from banks and major merchants came as coin and was probably returned in whatever form it was delivered to the mint. I am not aware of any actual records of this.
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arkmanxx's Avatar
United States
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 Posted 02/19/2013  1:29 pm  Show Profile   Bookmark this reply Add arkmanxx to your friends list Get a Link to this Reply
That's really interesting. Thanks for the information everyone!
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