Armored carriers contracted by Fed as coin terminals to store/distribute coins

[legend76]

see article:

http://www.coinworld.com/articles/fed-presidential-1-inventory-tops-1-2-billion/

Seems like this topic comes up quite about on the CRH forum


HH,
Legend

 

[legend76]

Another quote, "Some of these depository institutions provide coin and paper money services to many small depository institutions that do not obtain cash services directly from the Federal Reserve, according to the report."

 

[Diver_Down]

Another quote, "Some of these depository institutions provide coin and paper money services to many small depository institutions that do not obtain cash services directly from the Federal Reserve, according to the report."

I've been preaching this to anyone that would listen. In the case of Jacksonville's branch, Brinks and Loomis are Reserve vaults. Garda, Dunbar, and the like can't even sniff the front gate of the Reserve. They must source their inventory from Brinks or Loomis themselves. Restricting the companies who have access to the Reserve is another layer of security.

 

[legend76]

Another quote, "Some of these depository institutions provide coin and paper money services to many small depository institutions that do not obtain cash services directly from the Federal Reserve, according to the report."

I've been preaching this to anyone that would listen. In the case of Jacksonville's branch, Brinks and Loomis are Reserve vaults. Garda, Dunbar, and the like can't even sniff the front gate of the Reserve. They must source their inventory from Brinks or Loomis themselves. Restricting the companies who have access to the Reserve is another layer of security.

Yep, that's why I started post. To clear things up (if you believe the article as a good source).

 

[clovis97]

Great thread...thanks for posting!!!