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Who can Order Freshly Minted Coins from the FED?
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<p>[QUOTE="bhp3rd, post: 535199, member: 16510"]<b>It's sort of unclear what you are asking but,</b></p><p><br /></p><p>It's sort of unclear what you are asking but only the Fed can order coin from the mint at face value dollar for dollar.</p><p>1. The mint coins the coin. At this point the coin is not yet money it is just millions of disks with coin designs on them.</p><p>2, The twelve Federal Reserve Banks order and pay for coin. At this point they are considered money, (monetized).</p><p>3. The mint ships the coin to 1 thru 12 different Federal Reserve banks.</p><p>4. When the federal banks get the coin they send it out to private contractors such as Lomis, Brinks and Wells Fargo. Or, they arrange for it to be intercepted by these private contractors on their accounts.</p><p>5. These companies count, roll, box and ship to that particular Feds subsidiaries of banking institution's. The Fed and all the bank down the line pay a fee for this service as the coin is received.</p><p> </p><p>Your local bank pays for all it's coin even circulated cents if these are verified and rolled by Brinks, etc.</p><p>They (the banks) can try to order new (anything) but generally have no guarantee that they will get it until it becomes a very popular customer's request.</p><p>Still, they are at the mercy of these third party companies, (ie: Brinks etc<img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /></p><p> </p><p>Now you can order Prez. dollars from the mint at no surcharge right now but any other rolls they sell you will have to pay a premium over face value.[/QUOTE]</p><p><br /></p>
[QUOTE="bhp3rd, post: 535199, member: 16510"][b]It's sort of unclear what you are asking but,[/b] It's sort of unclear what you are asking but only the Fed can order coin from the mint at face value dollar for dollar. 1. The mint coins the coin. At this point the coin is not yet money it is just millions of disks with coin designs on them. 2, The twelve Federal Reserve Banks order and pay for coin. At this point they are considered money, (monetized). 3. The mint ships the coin to 1 thru 12 different Federal Reserve banks. 4. When the federal banks get the coin they send it out to private contractors such as Lomis, Brinks and Wells Fargo. Or, they arrange for it to be intercepted by these private contractors on their accounts. 5. These companies count, roll, box and ship to that particular Feds subsidiaries of banking institution's. The Fed and all the bank down the line pay a fee for this service as the coin is received. Your local bank pays for all it's coin even circulated cents if these are verified and rolled by Brinks, etc. They (the banks) can try to order new (anything) but generally have no guarantee that they will get it until it becomes a very popular customer's request. Still, they are at the mercy of these third party companies, (ie: Brinks etc:) Now you can order Prez. dollars from the mint at no surcharge right now but any other rolls they sell you will have to pay a premium over face value.[/QUOTE]
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