Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Nickel
>
Reply to Thread
Message:
<p>[QUOTE="KLJ, post: 44348, member: 1910"]Banks don't order coins from the Mint. They order them from the Federal Reserve. It costs a bank money to bring coins in from the Federal Reserve. Because most banks are just branch offices of a major bank corporation, the corporation is the actual purchaser of the coins from the Fed. That corporation has to pay for security and storage of those coins, so they less they can order, the less they have to pay. If a bank's branch can supply the local demand for coins by what comes in for deposit, then it will be encouraged, if not ordered, by corporate HQ to do so. </p><p><br /></p><p>We also have to remember that the first purpose of coins is not to be collected, but to be items of commerce. Legally, in the eyes of the Federal government (and most banks), a 1792 Disme is the same as a 2005D Roosevelt. Ten cents. You and I, and most individuals with a modicum of common sense, would treat them differently, but if offered as payment for the penny candy, they're the same.[/QUOTE]</p><p><br /></p>
[QUOTE="KLJ, post: 44348, member: 1910"]Banks don't order coins from the Mint. They order them from the Federal Reserve. It costs a bank money to bring coins in from the Federal Reserve. Because most banks are just branch offices of a major bank corporation, the corporation is the actual purchaser of the coins from the Fed. That corporation has to pay for security and storage of those coins, so they less they can order, the less they have to pay. If a bank's branch can supply the local demand for coins by what comes in for deposit, then it will be encouraged, if not ordered, by corporate HQ to do so. We also have to remember that the first purpose of coins is not to be collected, but to be items of commerce. Legally, in the eyes of the Federal government (and most banks), a 1792 Disme is the same as a 2005D Roosevelt. Ten cents. You and I, and most individuals with a modicum of common sense, would treat them differently, but if offered as payment for the penny candy, they're the same.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Nickel
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...