Delivery System

[Hermes Mambi]

hey folks,

Just out of curiosity, does anyone know exactly how individual coins flow upstream from a bank and come back down to the bank as freshly machine-rolled coins in a box?

I have read some posts on here which make me think that Brinks or some other distributor company owns the distribution centers from which coins flow downstream to banks. Or does Brinks just have access and get paid for doing the distributing? Moreover, how do coins that banks hold make it upstream exactly? Do they wait until they have $500 to send it to some proprietary collection center and then does the collection center send it to the Fed for re-rolling? I presume the banks each have open accounts with the Fed who do the rolling for a small fee.

Thanks!

~newb

 

[packerbacker]

I have no idea Mambi but, welcome. I figure it probably varies with the size bank and number of branches as to how they handle their coins. I think some of the smaller banks hold onto their coin forever. Some folks on here have scored well visiting the little, out of the way banks.

 

[Fropa]

The Credit Union I work for has an Armored Car Company come once a week to pickup coins. We have a set amount that has to be in a bag before it is pulled off the machine to be shipped out. $50 cents, $200 nickels, $1,000 dimes, $500 quarters (I think), and $1,000 halves. The bags stay in the machine until they hit that amount. We also order coin from the same company that picks them up. I'm not sure if the same company rolls the loose coin or if another company does that.

 

[Silver_Fox]

HM, take a look at this "fictional" story. Probably true for the most part.

http://forum.treasurenet.com/index.php/topic,92551.0.html

 

[Hermes Mambi]

Thanks for the repost S_F. I had read that post, but did not remember the particulars. The post still leaves me wondering how you can tell when a bank gets its box from the distribution company as opposed to the Fed. The post indicates that the Fed doesn't roll much, if anything. Thanks for the other insightful replies folks.

Hmm...if the banks are just sending coin out to be re-rolled and receiving them back, wouldn't they receive them and possibly store them at some central location before sending them out to the branches? I think I remember reading about some type of place like that in WA in another post on here...