Reply to Thread

Message:: [QUOTE="Truble, post: 2764252, member: 80662"]Why does everyone seem to think banks order coins from the Fed? or that MWR come from the "Fed" or they are "Rolls from the Fed"? Just interested because, they don't. Coins for banks come from cash management services such as Loomis, Brinks, etc. These CMS roll their own coins as banks return $1000 bags of Halfs, or $2000 bags of dollar coins, etc. then redistribute those coins. Fees for ordering cash and coins are charged to the bank by the CMS. The Mint or Fed does not distribute coins or cash for that matter to member banks. They do distribute funds to member banks via digital means but the Federal Reserve trucks aren't driving around, delivery or collecting coins from banks. When you dump large quantity of coins via rolling them, the bank actually has to unroll each roll and place them in plastic bank bags which are picked up by one of the CMS companies and rerolled, and redistributed. I'm not being critical here, just wondering why everyone thinks the Federal Reserve is in the business of rolling coins and take orders for them.[/QUOTE]