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Obselete but non valuable, what do banks do?
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<p>[QUOTE="Fifty, post: 887804, member: 24555"]I've been trying to find out what banks do with coins that are obselete (Ike dollars, and Kennedy's). I've been to many banks in my area (I live in a large city) and I've had a hard time obtaining these coins. They either dont' have them or they say they get shipped out as soon as they come in. Where are they going? Are there tons of these old coins sitting at the Fed vaults. I know some larger banks have their own coin warehouse facilities. </p><p> </p><p>Fortunately I live in a city with a FRB. I asked my bank to order some halves for me. They said they could get them in boxes of $500. What am I likely to get? Are there old silver halves at the Fed? I've found silver halves from bank rolls in the past but I've never tried Fed rolls. I would think that the fed coin rolling and counting machines would automatically pull the silver out.[/QUOTE]</p><p><br /></p>
[QUOTE="Fifty, post: 887804, member: 24555"]I've been trying to find out what banks do with coins that are obselete (Ike dollars, and Kennedy's). I've been to many banks in my area (I live in a large city) and I've had a hard time obtaining these coins. They either dont' have them or they say they get shipped out as soon as they come in. Where are they going? Are there tons of these old coins sitting at the Fed vaults. I know some larger banks have their own coin warehouse facilities. Fortunately I live in a city with a FRB. I asked my bank to order some halves for me. They said they could get them in boxes of $500. What am I likely to get? Are there old silver halves at the Fed? I've found silver halves from bank rolls in the past but I've never tried Fed rolls. I would think that the fed coin rolling and counting machines would automatically pull the silver out.[/QUOTE]
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