Why are 2009 dimes and nickels so scarce?

I'm frustrated because it doesn't seem to me that any bank or credit union I go to can order last year's or this years coins. Where can I turn to get them? I thought banks got there coins through the Federal Reserve through
distribution institutions. They should be able to order what their customers want this way. Yet when I try to find out any kind of information, no one knows anything. How can this be? What do I have to do to get the straight skinny?
They all say they get their coins from the Fed. but it's like where's the fed.? Can I have their phone number? " Oh I don't know it" is the answer. The only number I was able to get was an armored can service. Upon looking them up things looked mighty funny. They also have private investigator and detective services. And they won't disclose what the services are of the armored care service. They also contributed to Obama's presidential
campaign but when I called up the site I got a blank screen.
Anyway, back to my original problem. Surely Bank of America has a department that I can contact to order coins. They are a Federal Reserve bank aren't they? I need help to find out how things are done.

 

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Because the fed is about 2 years backed up in releasing change. I have a customer who works for Brinks and he is telling me that the majority of the coins they are getting are still new 2007's and 2008 coins. Most all of those coins you mention are sitting in warehouses somewhere waiting to get distributed. I imagine in about a year or so we'll see them everywhere. He has also told me that the banks can only request certian coins and if brinks doesn't have them to give them, then they don't get them. Brinks and the other services are not out to serve coin collectors they are out to provide their paying costumers with the proper change they need to operate.

 

First in First out etc

The Fed always distributes old coinage on hand first and then if they run out of that they go open new supersacks of coins to wrap. The Fed isn't behind its just that there are enough old coins in the system to satisfy the demand of commerce not collectors. The recession/depression has drastically reduced the number of coins needed and add to that all the coins from money jars people are cashing in to pay bills ,that also puts more used coin in circulation and reduces the chance of the Fed opening new coin bags. The only new coin the Fed trys to relaese are the state quarters and the prez dollars which banks can specifically order during a window of opportunity.

 

That and production was lower than usual due to the glut of coins coming back into the system from people's cars, couch cushions, drawers, etc as they cashed that in to make ends meet in some cases.

 

....well then i guess i won't ask about the 2010 coins! :rolling:

 

Iagree with all of you to what you said. First, The coin collecting business and hobby is probably a billion dollar business to the government. You'd think the Federal reserve would have some method of supplying dealers and collectors collectible coins and currency.
Question: Do the U.S. Mint and the Fed. communicate with each other? If so why doesn't the doesn't the mint handle the new cents, nickels, and dimes
to provide collectors what they want? Is that so hard? Isn't that the mints function? Certainly the impact on the coins made for general circulation wouldn't be impacted that much.
Sorry for being so hard headed but there should be a better way of supplying us.

 

I'm crying with the rest of ya's. I finally got the 2009 dimes and nickels (D's only) because my daughters bought them from a dealer on the west coast. I'm still praying that I'll get P mint ones in circulation. I hate to pay a buck for a nickel or dime.

 

2009 D mint nickels & dimes eh?

Were they the satin mint set type or business strike types?

 

Link to an article that deals with this topic.

http://www.coinnews.net/2010/02/23/...-pennies-nickels-dimes-mintages-2010-designs/

 

Nice article...we should organize a CT cruise to Puerto Rico!! :kewl:

 

Last May 2009, i wrote to the mint askin if they would consider sell rolls of 2009 dimes and nickels to collectors. All they bascially said that have delivered hundreds of millions of these 2009 coins. LOL !!!! ....i guess who ever wrote the letter doesn't know too much. here is the letter from the US Mint.

 

Yes, the Fed orders coin from the US Mint and is the only entity that does so directly. In fact, the coins are technicaly not deemed to be lawful money until they are delivered to the Fed.

umm, no that's not at all the function of the US Mint. Their function is to provide coin for the purposes of facilitating commerce. Coin collecting is merely a hobby that arose out of this function.

The short answer to your question, zekeguzz, is that the Fed is pushing around the coin that is already in circulation and has no use for the new coin that they have received from the Mint. They operate on a first-in first-out basis, so you won't see new coin until commerce has gobbled up the ones currently in circulation.

 

so, i have a question. can i go into a federal reserve bank branch and ask for rolls of change like i can in a regular bank?

 

The Federal Reserve Bank only does business with member banks.

 

Decades ago the Federal Reserve Banks used to maintain cash windows where the public could walk up and obtain (among other things) new currency and coin. That service was eliminated because it was (a) an unneccesary expense, (b) a minor security risk, and (c) almost never taken advantage of by anyone save collectors anyway, which wasn't supposed to be the point.

Back to the topic of the thread: Check the production figures on the Mint's website. As of February 28, no 2010 nickels or quarters have been produced yet at either Mint facility, and Denver has also made no 2010 dimes. You can't find them in circulation when they don't exist! The quarters will have to be struck eventually for the National Parks commem program; but there's speculation that, with the economy in the shape it's in, we might get all the way through 2010 with no mintage of nickels. (But they'd probably still produce them for the mint sets and proof sets....)

 

My bank just got in a load of 2005 new nickels......They are backed up!

 

thank you. i wasn't sure if they still offered the service anymore.

 

Supposedly, that's how the 1933 double eagles got out.

I don't consider "Satin Proofs" to be real Unc coins...which is what they put in the Mint sets these days. It would be nice if they put out some 2009/2010 souvenir mint sets with REAL unc coins in them.

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The Mint has been blaming Coin Collectors for all their woes since the early '60s. It's hard to believe that the new nickels and dimes are showing up in Puerto Rico...just by accident. The Mint is clearly anti-collector...or more accurately stated, the Mint is anti-"coin investor".

 

Its very frustrating!!

 

I got rolls of 2009 nickels from Chase here in Miami florida. Plus my wife got a new 2010 cent yesterday in her change from publix. Ill go to my bank tomorrow to c if the have them there. I posted pics.