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<p>[QUOTE="GDJMSP, post: 119996, member: 112"]Believe it or not it does cost them - that's why a lot of banks refuse to order specific coinage. Ordering coins from the Federal Reserve is not free for the banks. They have to pay the face value of course, but above that they also have to pay for the armored car company to go pick up the coins and then deliver them. Then there is the employees' time spent handling the coins in the bank, counting them, distributing them etc. And when the coins are returned, they have to go through the whole process all over again in reverse. And the pay again to ship the excess coins back to the Fed. It all adds up. If you had to pay 55 cents ( my estimate, it may be more ) for every half dollar, you wouldn't want to order them either.</p><p><br /></p><p>If the banks had their way they would not use coinage at all. They keep enough on hand to make change and satisfy the needs of their commercial customers, but they get enough to fulfill those needs just from they take in. The absolute last thing in the world they want to do is order more coins.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 119996, member: 112"]Believe it or not it does cost them - that's why a lot of banks refuse to order specific coinage. Ordering coins from the Federal Reserve is not free for the banks. They have to pay the face value of course, but above that they also have to pay for the armored car company to go pick up the coins and then deliver them. Then there is the employees' time spent handling the coins in the bank, counting them, distributing them etc. And when the coins are returned, they have to go through the whole process all over again in reverse. And the pay again to ship the excess coins back to the Fed. It all adds up. If you had to pay 55 cents ( my estimate, it may be more ) for every half dollar, you wouldn't want to order them either. If the banks had their way they would not use coinage at all. They keep enough on hand to make change and satisfy the needs of their commercial customers, but they get enough to fulfill those needs just from they take in. The absolute last thing in the world they want to do is order more coins.[/QUOTE]
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