"Fed Box" ??? Now Im really confused

[fistfulladirt]

"Fed Box" Now I'm really confused

Ok, I assumed that the halves/dimes that I get come from a local distribution center. Now I've read that they actually are rolled/boxed by the federal reserve, then distributed....for instance, String+son wrapped rolls. When the tellers say, "they came from the feds", they have been right all along? ffd

 

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[DrDetector]

Re: "Fed Box" Now I'm really confused

Ok, I assumed that the halves/dimes that I get come from a local distribution center. Now I've read that they actually are rolled/boxed by the federal reserve, then distributed....for instance, String+son wrapped rolls. When the tellers say, "they came from the feds", they have been right all along? ffd

Where did you read that?

 

[jim4silver]

Re: "Fed Box" Now I'm really confused

Here is why I don't think that is accurate. Would the fed reserve keep switching wrappers on their machine for each courier, ie Brinks, String and Son wrappers, Dunbar, etc?

Also, on some of the coin courier websites it says that they count, process and roll the coins. I remember seeing a picture of a large machine with coins being dumped in by the courier employee.

There may be companies hired by the fed reserve to roll the coins on their behalf, but I have never seen any proof that fed reserve employees process coins that way.

Here are two examples I found on line just now.

http://www.gardaglobal.com/cash_cash.php?lang=en

http://us.brinksinc.com/services/coin_processing_services.aspx


Jim

 

[Diver_Down]

Re: "Fed Box" Now I'm really confused

I would encourage anyone who has the time to take a tour of their local Fed. branch. They are free, but you have to schedule them in advance due to security concerns (they will conduct a background check). The Reserve branch that I toured does not roll coin. They are bagged. Now, the Reserve does not store all the coin. They do not have the capacity. There are select carriers that are designated reserve vaults. In my area, Brinks and Loomis are designated as such. If Garda needs boxes that they don't have on hand, then they would go to a Brinks or Loomis facility and pick-up from there. It limits the number of vehicles coming and going into the Reserve facility. Now, as a Reserve vault, they are required to keep a minimum on hand of specific denominations. When the minimum is breached (beyond the weekly float), then they will then draw from the Reserve's stockpile. Also, if their maximum is exceeded (beyond the weekly float), then they are required to deposit it at the Reserve branch.

 

[fistfulladirt]

Re: "Fed Box" Now I'm really confused

I would encourage anyone who has the time to take a tour of their local Fed. branch. They are free, but you have to schedule them in advance due to security concerns (they will conduct a background check). The Reserve branch that I toured does not roll coin. They are bagged. Now, the Reserve does not store all the coin. They do not have the capacity. There are select carriers that are designated reserve vaults. In my area, Brinks and Loomis are designated as such. If Garda needs boxes that they don't have on hand, then they would go to a Brinks or Loomis facility and pick-up from there. It limits the number of vehicles coming and going into the Reserve facility. Now, as a Reserve vault, they are required to keep a minimum on hand of specific denominations. When the minimum is breached (beyond the weekly float), then they will then draw from the Reserve's stockpile. Also, if their maximum is exceeded (beyond the weekly float), then they are required to deposit it at the Reserve branch.

Thanks for that info, DD. So then, the FR normally does all the rolling and boxing?

 

[jim4silver]

Re: "Fed Box" Now I'm really confused

I would encourage anyone who has the time to take a tour of their local Fed. branch. They are free, but you have to schedule them in advance due to security concerns (they will conduct a background check). The Reserve branch that I toured does not roll coin. They are bagged. Now, the Reserve does not store all the coin. They do not have the capacity. There are select carriers that are designated reserve vaults. In my area, Brinks and Loomis are designated as such. If Garda needs boxes that they don't have on hand, then they would go to a Brinks or Loomis facility and pick-up from there. It limits the number of vehicles coming and going into the Reserve facility. Now, as a Reserve vault, they are required to keep a minimum on hand of specific denominations. When the minimum is breached (beyond the weekly float), then they will then draw from the Reserve's stockpile. Also, if their maximum is exceeded (beyond the weekly float), then they are required to deposit it at the Reserve branch.

Thanks for that info, DD. So then, the FR normally does all the rolling and boxing?

My interpretation of his post is that the FR stockpiles bags of coins, and the coin couriers do the actual rolling and boxing up and delivery--and stockpiling on a minor basis based on their reserve amounts (whatever that would be).

Jim

 

[Diver_Down]

Re: "Fed Box" Now I'm really confused

I would encourage anyone who has the time to take a tour of their local Fed. branch. They are free, but you have to schedule them in advance due to security concerns (they will conduct a background check). The Reserve branch that I toured does not roll coin. They are bagged. Now, the Reserve does not store all the coin. They do not have the capacity. There are select carriers that are designated reserve vaults. In my area, Brinks and Loomis are designated as such. If Garda needs boxes that they don't have on hand, then they would go to a Brinks or Loomis facility and pick-up from there. It limits the number of vehicles coming and going into the Reserve facility. Now, as a Reserve vault, they are required to keep a minimum on hand of specific denominations. When the minimum is breached (beyond the weekly float), then they will then draw from the Reserve's stockpile. Also, if their maximum is exceeded (beyond the weekly float), then they are required to deposit it at the Reserve branch.

Thanks for that info, DD. So then, the FR normally does all the rolling and boxing?

My interpretation of his post is that the FR stockpiles bags of coins, and the coin couriers do the actual rolling and boxing up and delivery--and stockpiling on a minor basis based on their reserve amounts (whatever that would be).

Jim

Correct.