I STILL haven't seen a "P" penny from circulation

Discussion in 'Coin Chat' started by Hiddendragon, Jul 12, 2018.

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  1. lordmarcovan

    lordmarcovan Eclectic & Eccentric Moderator

    I still haven't seen one, though to be fair, I haven't been looking really hard, either.
     
    lordmarcovan, Aug 10, 2018
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  3. maximuscommodus

    maximuscommodus Member

    As far as I understood . When local bank running out of coins they have submit order to they big branch . When big branch of local banks running of coins. They have submit purchase order to Federal Reserve and Federal Reserve sale to them the amount of request . Everything is sale,sale !!!
     
    maximuscommodus, Aug 20, 2018
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  4. Conder101

    Conder101 Numismatist

    Usually one more step in there. The big branches tend to order more coins from the armored car services such as Brinks etc that do the actual coin handling for the Fed. When the armor car services are running low then they notify the local Federal Reserve branch bank or bank for a shipment. If the servcies get overstocked they also ship coins back to the Fed. When the Fed gets an order they ship out circulated coins first and then new coins when their circulated stocks are depleted.

    So for the most part new coins don't get shipped out until a good portion of the circulated coins disappear into change jars.
     
    Conder101, Aug 23, 2018
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