I got two rolls of Oklahoma quarters at the bank on Friday. They were rolled in clear plastic. The head teller there told me that they were rolled by the Federal Reserve in Boston. I had my doubt's, but didn't say anything.
Federal Reserve banks don't roll coins. They do buy coins from the Mint, and before distributing them to banks, will often license companies (usually armored car companies) to roll them... perhaps that's what she meant. Federal Reserve banks also do not collect coins from circulation. Paper money yes (will restribute it if it's not too worn), coins no. Maybe I'm being picky about semantics lol but coins are never rolled by the Federal Resrve, but are rolled for the Federal Reserve...
I doubt it. I'll bet she was stating what she believed to be factual information. The level of ignorance about money distribution among low level bank employees is astonishingly high.
I'll second that. In general, the Federal Reserve no longer deals in coins. It's is almost 100% contracted out (I don't want to say 100%, because I see many operating differences between FRB districts and I onlly know about my district). The Federal Reserve contracts to depository institutions to handle coin handling, storage, and recirculation. The clear plastic wrap is mostly Brinks (as for the box and you will most likely see a Brink's self promo for their "patented" clear plastic wrap). CWI is by far the largest contractor for actual coin wrapping and boxing. The FRB also claims to separate out "uncurrent", foreign, and excessively worn coins. They've sent me that canned response so many times it's actually pathetic. I personally have seen plenty of evidence of them not even sorting/verifying coins sent in, let alone do any type of sorting. Just pop over to the thread on coin roll hunting and most there will tell you the same thing.
I dont want tellers who are knowledgeable about the intricacies of federal coin and cash distribution channels. I could care less if he/she knows who wrapped a roll of coins. I want a teller who is willing to pay attention to customer accounts. No more, no less. LOL
