Ordering Ikes From Banks

Discussion in 'Coin Roll Hunting' started by Lon Chaney, Jan 28, 2023.

  1. Lon Chaney

    Lon Chaney Well-Known Member

    Alright, been 11 years since I last discussed this, but let's see if we can get this jump started again.
    Original conversation is found on page 974 on the roll-searchers thread if anyone wants to look back. But I'll copy/paste my little research.
    Let's try to order some large dollars!
    ___________________________________
    Dollars should come in boxes of $1000. Small dollars are 40 rolls of $25, and large dollars are 50 rolls of $20. And I'm pretty sure I've seen a Fed order form where banks can order large dollars, I think most just assume they can't. Let me see if I can find it somewhere.
    EDIT: This is from frbservices.org: Q:
    How can I obtain an Eisenhower dollar?A: Most Eisenhower dollars are in circulation. The U.S. Mint discontinued minting Eisenhower dollars in December 1978, and the last of the Eisenhower dollars were distributed to the Federal Reserve Banks in April 1979. Because the Eisenhower dollars are no longer minted, the Reserve Banks cannot order them from the U.S. Mint and supply them to banks. Coin dealers listed in the telephone yellow pages usually have a supply of Eisenhower dollars.
    ____________________________
    I'm not sure if I buy it. I mean, banks can order small dollars, and there's a big chance that there will be SBA dollars in there. And those are no longer minted. If the Fed has them in supply, I still think banks should be able to order Ikes from them. Might be worth a phone call to the Fed, I don't know.

    You can order them, if they are available. From http://www.frbservices.org/files/regulations/pdf/operating_circular_2_csmop_040111.pdf :
    Section 5.5 (Page 14 and 15) NOTE: The copy/paste screwed up the formatting, so check the pdf if you want. See bold type:

    5.5 Submitting Coin Orders
    All Coin orders must:
    Be verified according to the denomination breakdown and accuracy of
    the amounts before placing the order;

    1
    The FRB recommends that initial opening and verification of the Cash shipment be performed under
    camera surveillance coverage.
    2
    Dual Control means that two employees maintain custody of a Currency and/or Coin shipment and both
    verify it to the appropriate records.
    Federal Reserve Banks
    Cash Services Manual of Procedures
    Effective April 1, 2011
    15
    Be submitted within the ordering schedule set by Your servicing FRB;
    and
    Be received before the FRB’s scheduled cut-off time. Orders received
    after the cut-off time will be assigned the next available ship date.
    Notify Your servicing FRB immediately if You discover an error on the order You
    submitted. If You miss the scheduled cut-off time for orders but have an urgent
    need for a Coin order, You may call Your servicing FRB to discuss available
    options.


    Standard units for ordering Coin are as follows:
    Coin Orders
    Denomination Standard Unit
    Dollar Amount
    Standard ABA
    Color Code
    Pennies $50 Red
    Nickels $200 Blue
    Dimes $1,000 Green
    Quarters $1,000 Orange
    Halves $1,000 Buff
    Dollars:
    Presidential Dollars $1,000 Gray
    Native American/Susan B.
    Anthony Dollars
    $2,000 Gray
    Please call Us before ordering Eisenhower dollars because they are subject to
    availability.
    Except as provided in Section 5.6, all Coin orders are first filled with Current
    Coin, as inventory levels dictate.
    Late or same day Coin order requests must be from an officer listed on Your
    Official Authorization List (OAL).
    Your servicing FRB may, at its discretion, reduce Cash orders to maintain
    Currency and Coin inventories.
     
    NOS and ArbySea like this.
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  3. LakeEffect

    LakeEffect Average Circulated Supporter

    1000 Ikes weigh 50 lbs.
    (In case you were wondering like I was)
     
    NOS likes this.
  4. Marsden

    Marsden Well-Known Member

    I'll eat my hat if you can still order Ike dollars from your bank.

    They're almost antiques at this point.

    Full disclosure: I've already eaten my hat once today.
     
  5. Muzyck

    Muzyck Rabbits!

    Maybe they can. Why on earth would they agree to do it? The request has almost nothing to do with banking services.
     
    LakeEffect likes this.
  6. JPD3

    JPD3 Well-Known Member

    Wouldn't want to strain my 'ol back with a 'case of Ikes',
    would definitely bring a cart to tote them home.
    upload_2023-1-29_0-46-46.png
     
    Newbee03 likes this.
  7. Lon Chaney

    Lon Chaney Well-Known Member

    None of the boxes of coin we order has anything to do with banking services. But we're customers and the teller are helpful.
     
  8. Lon Chaney

    Lon Chaney Well-Known Member

    If you start on page 974 and read further, someone was able to get a $500 bag of Ikes. And it seems like Loomis can deliver them, as opposed to Guarda and Brinks.
     
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