Is the government destroying Morgan Silver Dollars?

Just another note, the feds themself do not roll coins, but rather the armored car companies that handle cash services do this or contract it out as a service to banks to attract their business.

 

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I receive many as wel (uo to three foreign, non canadiam in one roll, but never got a battery). Thise wwere from customer rolled rolls, though. If you are getting shotgun rolls then that is a different story.

As for SBAs, that is news to me. I had heard that the Fed was specifically NOT going to remove them. And the Mint can't melt them if they aren;t passed back through the Fed.

I think I'll write a letter and see what the reply is - I am curious now about policy toward thge SBA. I like the SBA, but removing it would be a step in the right direction if they ever want the dollar coin to circulate.

 

You are correct on the Armored Car. It's the banks responsibility to contract with an Armored Car Service, the Federal Reserve has no part in that process, other than the person approaching the loading docks must be on the list in advance (in other words, no walkins allowed). The Federal Reserve itself does not charge a fee, except under certain circumstances.

I used to ask the tellers questions about the Federal Reserve, but I've been misinformed too many times. Sometimes the Teller Supervisor is more knowledgeable as they go to more trainings and network more. I've been told things like the Feds melt every half dollar they receive back, that they aren't circulated anymore and cannot be ordered, they they don't make them anymore, that they get charged per box, that the Fed limits quantities that can be ordered, etc... To be fair, I think many of those tellers made some of it up intentionality to get me to go to another bank for my rolled coin needs. Either way, it's my sign that I can't trust what they all say.

 

Awhile back, there was a footnote on the USMints website on the page that had a table of coin specifications. The footnote stated that SBA's were uncurrent and the mint melted any that were returned to it.

I assume that as the Federal Reserve doesn't return coins to the mint often, that it was probably a true statement and that almost none were returned. I remember the statement as it was what prompted me to start putting in a jar any SBA's that I found. This may have been the desired effect without actually melting any coins. Prompting people to hoard them is much cheaper than actually filtering them out of circulation.

Since then, the coin specification table has been updated and no long listed the SBA or IKE specifications. Don't know if there is a way to find an archived copy.

I do agree, removing the silver SBA's is the first step to trying to get dollar coins back in circulation. I also think the Mint should work on a strategy to convince businesses in high theft areas to switch from dollar bills to dollar coins as very few thieves go after the change.

 

The statement is not there anymore, that's why I wondered if anyone knew where to find an archived copy of older versions of their website. I though that some college had a project for that going.

I know I read the statement on that page as that was the specific reason why I started throwing SBA's in a jar instead of spending them. When it was there, they still listed the specs for the IKES and SBA's. Now they just list the Sac's and the Presidential Dollars.