Special Ordering Process For Presidential Dollar Coins
Federal Reserve Banks recently set up a special 6-week ordering process for unmixed Presidential $1 Coins only, according to the National Automatic Merchandising Association. Retail banks will be able to order these George Washington $1 Coins starting Feb. 1, 2007. Actual distribution to the public will begin Feb. 15. Federal Reserve Bank offices will provide retail banks with unmixed Presidential Coins in boxes containing $1,000 worth of wrapped $25 rolls or $2,000 bags of unmixed Washington Coins. Retail banks, or depository institutions as the Federal Reserve refers to them, can continue ordering and receiving unmixed quantities of the Washington Coins unless a Reserve Bank office’s supply runs out. After March 15 the Federal Reserve Banks will fill orders for $1 coins using its customary practice of providing loose, mixed $1 coins in $2,000 bags.
When the John Adams $1 Coin is released in May, this type of special ordering process will begin again.
The U.S. Mint is urging businesses such as vending, office coffee or foodservice operators to talk with their financial institutions about the new Presidential $1 Coins. The National Automatic Merchandising Association urges members to contact their bank in January to discuss plans for ordering this coin.
(via AM Online)