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 Replies: 8 / Views: 1,170 |
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Pillar of the Community
United States
1026 Posts |
Here in Central PA it seems most banks I use to get rolls of the new coins from are not geting them anymore.
My main bank always has them by now and still none. They will not come out and state it but I do not think they are going to get the new coins anymore CRAP
The US Mint should make all these available on there direct ship program now since the banks do not want to provide these anymore.
I am going to write my representatives a letter today maybe if we all do they will direct ship more coins in the future.
Anyone else having more and more banks in there area drop the new coins?
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Valued Member
United States
116 Posts |
My thoughts concerning this problem are as follows. Would like to read other thoughts or reasons. Here is what I'm thinking is the problem. First the head teller at my bank explained they do not order new coins. They just order coins and there is no place for years or mint marks on their form. It's "send me 5 boxes of quarters". For years now the mint has been producing hundred's of millions of coins of each type and each mint. The system is flooded with old coins and the new ones can't make it down thru the system until they are ordered and when coins are ordered the old ones are shipped or the first ones they can get their hands on. Plus add to that the bad economy and people dumping old coins to pay an electric bill. Thus the system is flooded with old coins and the new ones can't get down to the banks. Just a thought, but then I ask myself how did all the State Quarters get down through the system so easy? |
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Pillar of the Community
United States
2661 Posts |
My teller told me yesterday that the only thing she can specify on a coin order is the Pres. Dollars. The Fed is pushing these down the banks throat right now in an ill attempt at forcing circulation. She told me that she has to 1K minimum and that is all she orders. She also stated that the only time she gives them out is when a customer asks for them. I got the last roll of Pres. Dollars she had just cause she wanted to get rid of them.
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Pillar of the Community
Australia
1040 Posts |
Quote:but then I ask myself how did all the State Quarters get down through the system so easy? I think they recognised very early that these would be a huge success, these are popular the WORLD over. The seigniorage on this series, with millions and millions of people taking them out of circulation, would have been too much of a money making opportunity NOT to have them on timely release. At least if I was in charge, that is what I would do from a business point of view. |
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Rest in Peace
United States
1943 Posts |
I'm having the same problem in central PA Bruce. From talking to the girls at my bank I know they can specifically ask for certain new coins. In the past I have asked the teller who orders coins for my bank and she said we didn't get the OK from our supplier to order them yet. I think when the coins such as the new State Quarters are received by the supplier they let the bank know they can request a box. There is a limit to one box per bank branch and there is no guarantee they will get a box if they order one. The same is true for the Presidential dollars and the cent. But my bank never received a notification for the cent. They are getting the dollars and all but one of the quarters so far. But the other coinage is ordered one the form and whatever comes is what you get (old or new). So for example the bank can't order new nickels. |
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Rest in Peace
United States
3730 Posts |
Up to this point I have had very good luck getting the new Lincoln cents as well as the Presidential dollars from my bank. 2009 dimes, nickels, quarters, and Half Dollars just aren't available however.  |
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Pillar of the Community
 United States
1026 Posts |
My 1 bank has got all the new coins made since I can remember.
So have allot of other banks in my area but now allot of the banks that have been getting them are saying they do not get them anymore.
I guess it must be costing them money to get these and with the bad economy they are trying to cut costs.
The one bank I have accounts at just merged so not sure maybe this is why they have not got the new coins yet will keep asking.
I did locate allot of Guam rolls from another bank I found that had them.
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Valued Member
United States
129 Posts |
The cincinnati branch of the Fed didn't even get the first release of the Lincoln Cent. Coyote had it right...when the economy slows down, people empty their piggy banks and turn in change in masse. Banks don't order change from the Fed banks so the Fed banks don't order from the mint....so the mint stops producing like they did this year with the dime and nickel. Same thing happened during the the depression in the 30's. Goo article in Coin World on this. |
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Pillar of the Community
United Kingdom
1682 Posts |
Numismatic News is reporting that the Denver mint made 480,000 Nickels in June.
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Replies: 8 / Views: 1,170 |
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Posted 07/04/2009 09:21 am
