| Author |
 Replies: 26 / Views: 3,263 |
|
Pillar of the Community
United States
2368 Posts |
Today I received a $25 cent box with nothing but 2013 shields. I've heard of this, but this is the first time it happened to me after two years. I have a lot of questions about it:
-Will I ever get a regular box again from this bank?
-Can banks choose uncirculated boxes instead of regular ones?
-Does the Fed determine what type of box a bank gets?
-Will it be harder to get regular boxes in the future?
-Is this probably just a one time occurrence?
Obviously I'm pretty concerned, because this is my main pickup bank and I don't want to lose it. Thanks for your help!
|
|
|
|
Pillar of the Community
United States
597 Posts |
yes
no
no
no
yes
now what you do is make 1 really sweet roll by using the best looking cent out of every roll trashing the rest 50 rolls in a box one out of each roll will give you a cherry roll of 2013 cents!
|
|
Pillar of the Community
 United States
2368 Posts |
Thanks reupman! (Phew)
Just out of curiosity, why do banks sometimes get boxes of current year coinage instead of mixed circulated ones?
And also, how often has this happened to you or any other cent hunter? Like I said, first time seeing this in two years. Is this rare (or lucky) for someone not to experience this for so long?
Edited by wheatchaser140
11/18/2013 10:41 pm
|
|
Bedrock of the Community
Canada
11922 Posts |
Are these from the Denver or Philadelphia mint? You should at least keep one, unopened roll (in my opinion).
|
|
Pillar of the Community
United States
2368 Posts |
They were Philadelphia. I contemplated keeping one, but even BU 1960s LMCs are still worth under 5ยข.
|
|
Valued Member
United States
107 Posts |
I wish I got more brand new boxes!
|
|
Pillar of the Community
Australia
4411 Posts |
Crack em and look for errors
|
|
Pillar of the Community
United States
4333 Posts |
Wheatchaser, how is the wrapper labeled?
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Pillar of the Community
United States
2368 Posts |
Just the regular white and red N.F. String rolls.
|
|
Pillar of the Community
United States
1944 Posts |
not long ago I got two in a row - complete solid date 2013 boxes. I just cant bring myself to search through 5000 2013 cents. I am probably missing out on some interesting varieties (or not)...but the though just dosent work - for me.
|
|
Pillar of the Community
United States
2368 Posts |
 with dbrablec. |
|
Valued Member
United States
107 Posts |
Last time I got 2 boxes, I sold them for $88.
|
|
Pillar of the Community
United States
2368 Posts |
You did, Kritler? Wow. ebay? I've seen people sell one bank box of circulated cents for $50 each. Only a sucker would pay that. Selling uncirculated ones for a premium is more understandable, but you made a killing on those.  |
|
Pillar of the Community
 United States
4591 Posts |
Basically, banks order coins from the Fed when their supply is insufficient, banks deposit coins with the Feb when they supply is too large. If the supply is OK, they recycle what they have. See http://www.frbservices.org/operatio...siting.html, quoting: Quote:
Frequency of Service
For each endpoint, the basic level of service is one deposit and one order of coin per week. The Federal Reserve Banks recognize that factors such as volume and cost may require less frequent service to some endpoints and more frequent service to others. So basically, if your bank is a net importer of new coins from the Fed and you don't like it, find another bank -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
|
Pillar of the Community
United States
2368 Posts |
BStrauss3: Thanks for the info. I always assumed that banks ordered or shipped out coins based on supply, but the net importing, service frequency, and endpoint stuff is new to me. I'm guessing that "endpoint" means bank branch. Are all branches given an "allowance" per se, from the Fed? (I.e. 2 boxes per week). Or does this vary by the bank's demand and the Fed's supplies? And these net importers, are they just selected banks that are given new coinage? I always thought that every once and a while every bank was given a new box to distribute. I doubt this is my bank, because its been my pickup bank for years and I've never had this problem. This is some great info. Thanks so much!  I think once I have a better understanding of the system of the Federal Reserve's coinage distribution system, it will help me better judge how often to make a bank trip, and how many roll/boxes to buy. |
|
Pillar of the Community
United States
4591 Posts |
As I'm reading the Fed stuff the branch can ORDER whatever they want, although the Fed may not provide all of it depending on what the Fed has available. But in theory, a friendly bank could order an extra box a week for you. Or anything you request. The problem is that when you then dump the coins back into some other bank, they have a surplus and will eventually send THAT off to the Fed. Who will probably choose to honor your pet bank's request by sending you back last month's box. Ultimately this is close to a zero-sum game and when you've mined out all of the (whatever you desire) from the area you are just going to get your rejects back. Or my rejects or Joe's rejects.  The only source of new, desirable material is people emptying out their several year accumulation from the change jar or couch into Coinstar. IMHO that is the sole reason you find good stuff in rolls today at all is that when Coinstar became available, lots and lots of the family change jars got converted into "real" money. So the 50 year old Wheaties on the bottom got recycled. Once those all get pulled out, there's no more source... Someday it's ALL going to be zlincons and we'll gloat over an 1981 COPPER like we gloat over a LWC today. -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
| |
Replies: 26 / Views: 3,263 |
Posted 11/18/2013 10:27 pm
