Federal Reserve Coin Providers

[Senor]

My theory is that unless you have access to the FED's stored halves, then you are only searching your own or others' dumps with the occasional collection coin thrown in.

In cities that have a main FED bank they have not resorted to outsourcing the coin processing so any armored carrier can pick up coinage at the main FED bank. These are at a minimum:
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco

I was mistaken to think that Loomis provided all of the coin depots for the FED. This was because they stated that, "we serve as Federal Reserve Coin Depots in 40 locations." I am unsure of these locations other then those listed below.

So the following is a list of some of the cities that have third party coin depots.

The FED has not privatized coin handling in all locations yet, but they are trending in that direction.

Dunbar - Pittsburgh, San Antonio,

Loomis - Nashville, Louisville.

Rochester Armored Car Company - Mankato and Rochester, Minnesota; Sioux Falls; North Dakota; McAllen, TX.

Privatized unknown coin depots - Birmingham, Buffalo, Little Rock, Oklahoma City, Omaha, and Portland.

Additionally, the illustrations below demonstrate the old cash cycle versus the current. This change has taken place for the most part in the last 5 years.

 

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[SilverForBrains]

nice post can you give me the source of the figures?

 

[Senor]

nice post can you give me the source of the figures?

FRB: Press Release--Federal Reserve Banks announce changes to cash infrastructure--June 28, 2005 for info when the fed established the coin depots. All the other figures are at the links in the initial post.


"The Federal Reserve Banks have contractual obligations with 168 coin terminals that store, process, and distribute new and used coins to depository institutions."

 

[eldeaco]

I took my Boy Scout troop on a Fed res tour at the Fed here in St Louis. They told us they use Brinks entirely as their coin handler and storer. Mots of the banks seem to use Brinks here as well since they all seem to produce Brinks boxes when you order coins.

 

[Senor]

I took my Boy Scout troop on a Fed res tour at the Fed here in St Louis. They told us they use Brinks entirely as their coin handler and storer. Mots of the banks seem to use Brinks here as well since they all seem to produce Brinks boxes when you order coins.

Thanks for the info, it is very helpful.

That means the banks on this map that receive coins from Brinks have direct access to the Fed. The other coin providers will get their coins from Brinks if they are needed, otherwise they'll just switch them back and forth.