"Coins come from the couriers"

Kaekue

Tenderfoot
Oct 18, 2012
9
1
Kentucky
Primary Interest:
All Treasure Hunting
I think this needs its own thread. I think a lot of people are confused about where the coins/notes really come from.


Quote Originally Posted by D1MES_101
PEOPLE GET THIS RIGHT THEY DONT ORDER IT FROM THE FED THEY GET IT FROM TEH COURIERS!!!!! it annoys me sooo much!!!!!!



The banks in my area all tell me that they send the coins bags from the machine to the fed. I have watched them fill out the shipping form on the bags for the couriers to pick up and it says To: FED. I have asked multiple bank managers and the assistant vice president of a local chain of banks in my area and they have all said that the coins go to the fed and the coins come from the fed. All of my boxes that I receive have FED written on them. I have been told by all of the bank managers that these couriers are.. well couriers. Meaning they deliver these boxes from one point to another and they are paid for that. I am not sure if these couriers get bags of coins from the fed and roll and box the coins for them, but they must go to and come from the fed. When the banks in my area order coins they do not order them from the courier websites, they order them from the fed website. Now, it is possible that every single bank manager in my area is misinformed, but I highly doubt that.

Where exactly did you get this information that they "come from the courier". Where does the courier get these coins? At some point they had to come from the fed no? Or does the courier sell and buy coins from all of the banks? When new coins are released every year do these couriers make them? No, they must come from the fed. According to the feds website: Federal (FED) "Reserve Banks distribute new and circulated coin to depository institutions to meet the public's demand, and take as deposits coin that exceeds the public's needs."

The same thing happens with notes. "The 12 regional Federal Reserve Banks, through their network of Districts and branches throughout the country, distribute Federal Reserve notes to the public through depository institutions. Reserve Banks process notes on high-speed sorting machines that check to ensure that they are genuine and fit for recirculation. If the notes are not genuine, Reserve Banks forward them to the local U.S. Secret Service office. If they are genuine and still in good condition, the notes are sent to depository institutions to fill new orders for currency. An individual note continues moving through this cycle until it is deemed unfit, or too worn, to be kept in circulation. Unfit notes are destroyed on-site at Reserve Banks in order to maintain the quality of currency in circulation."

Now it is a common theme here that these coins come from specific couriers and you should not dump and pick up from the same courier, but it sounds like no matter what you are dumping and getting coins from the same regional federal reserve bank unless you dump in a different region. Is this not what Timzim was trying to accomplish when he dumped in AC?

Some more Q&As that support these statements that the coins go to and come from the "fed"

Q: Where can I get new uncirculated coins?
A: Neither the Federal Reserve Banks nor the U.S. Mint provide coins directly to the public for circulation purposes. Instead, coins are placed into circulation through depository institutions (e.g. banks, savings & loans, credit unions, thrifts). The Reserve Banks issue circulated coins before new coins. You may need to contact several banks about supplies of new coins. The U.S. Mint sells certain commemorative and collectible coins and coin sets to the public through their website at The United States Mint (Off-site Link)

Q: Where can I get $2 bills?
A: Local banks should have $2 bills. If your bank does not have any current inventory, it can order $2 bills from the Federal Reserve Bank.

This Q&A proves that the banks are able to order directly from the FED. If they are able to order $2 bills, why not half dollars?

If you are going to keep saying on here that they "go to and come from the "couriers", please provide some evidence instead of just stating your opinion as though it is fact. Also, if this is the case, please do not use the term "couriers" because a courier is : A messenger who transports goods or documents, in particular.
 

Upvote 0
NEW coins come from the Fed. Circulated coins almost never return to the Fed except for those unwanted ugly $1 coins.

When a bank ships off a bag "to the Fed", they kinda do, but then again they really do not. Brinks/Loomis, etc pick up the coins. They count (often by weight) the coins. They then deposit that amount into the bank's account AT THE FED. But, they keep the coins to be rerolled and reboxed and start the whole process over again.

The cash value goes to the Fed. The coins stay with the couriers.

I agree. Many people on this board though have stated that the fed have nothing to do with it and it all comes from the couriers. I think the bags of coins get taken from the banks to the fed by the couriers. When orders are placed (which is why they are placed days ahead of time), the courier gets the needed coins/notes from the fed and rolls/boxes the coins to be delivered to the banks that they service. It is possible that the courier carries a small stock of coins/notes but they all come from the fed.

I've multi-quoted the two messages to point out that Arkie is correct and Kaekue is incorrect. I encourage all to take a tour of your local Fedral Reserve branch. They are free, but they have to be scheduled ahead of time in order for background checks to be conducted. You will learn about the movement of our cash and coinage. For example, Jacksonville has a branch of the Atlanta district on Water st. I wouldn't recommend parking outside and watching the ongoings as your activity will be noted, but if you did, you would notice that a Brinks/Loomis/etc. vehicle rarely ever enters the premises. It is because they are designated Reserve vaults for the Jacksonville branch. If Garda runs out of coin or Dunbar, they must source their coin from Brinks or Loomis. The Fed branch restricts access even to the courier companies.
 

All I have to say is who cares as long as you get your coin????

I think it's important to know how and where you get the coin. Learning the in's and out's of the banks and couriers will help avoid or prolong searching the same coin. Even if you dump at a different bank, you can easily be dumping in to your own supply.

I used to have visions of this huge bank vault. I thought I would eventually get to 'the good stuff' if I searched enough coin. In truth, CRHer's are just passing coin back and forth waiting for someone to dump new(old) coin in to the supply. If you can prolong searching the same coin, you have a better chance at catching new(old) coin.

OO
 

I've multi-quoted the two messages to point out that Arkie is correct and Kaekue is incorrect. I encourage all to take a tour of your local Fedral Reserve branch. They are free, but they have to be scheduled ahead of time in order for background checks to be conducted. You will learn about the movement of our cash and coinage. For example, Jacksonville has a branch of the Atlanta district on Water st. I wouldn't recommend parking outside and watching the ongoings as your activity will be noted, but if you did, you would notice that a Brinks/Loomis/etc. vehicle rarely ever enters the premises. It is because they are designated Reserve vaults for the Jacksonville branch. If Garda runs out of coin or Dunbar, they must source their coin from Brinks or Loomis. The Fed branch restricts access even to the courier companies.

The Fed and all branches in my district no longer offer tours. Dunno about the other districts.
 

The Fed and all branches in my district no longer offer tours. Dunno about the other districts.

Maybe they no longer do tours cause they are culling the AG themselves??? Winkwink laughing just a joke

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just keep stacking, just keep stacking, stacking stacking stacking
 

:coffee2:Most of the threads seem to agree that the coins are minted by the treasury dept, transported to the various Federal Reserve Banks in bags, sent to the couriers in bags that are than mostly boxed/rolled by the couriers who than ship them to the banks/credit unions where we (crhs) than pick them up. That agrees with what I know of the system also. I agree with JimmerUSD that as long as I'm able to get my coins, I really don't care where they come from. It's the thrill of the hunt for me not source of the coins.

HH
Gary
 

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