Is this bank managers, branch managers, dealers? Just curious what position i need to put myself in for the future when they release new coins. Thanks.
You can! http://www.usmint.gov/ home page If you want quarter, half dollar, or golden dollar rolls. as well as all of the Mint sets from uncirculated, Proof and Silver Proof sets. They also offer Silver and Gold sets to varying degrees.n The only product I know of that you can get as face value is the Golden Dollars, but when you order those you have to get at least $250 per type. No cents, nickels, dimes, quarters, or halves at face value. http://catalog.usmint.gov/webapp/wc...tegoriesDisplay?storeId=10001&catalogId=10001 Catalog link You can't order most of the standard cent, nickel, or dime rolls - banks order them throught the Federal Reserve Bank which is a private bank not a Federal Agency. If you want to order from them be prepared to spend at least $1000 for any order, even then you may need to go through a local bank. Commemoratives can be ordered direct from the Mint as well, log on and set up an account , you'll need a credit card.
Charter your own bank and you can probably order all you want from the FED. Other than that, you're at the mercy of the existing institutions....
I meant @ cost...and very close to mint/release date...Is it solely banks and financial institutions, or can dealers receive them at cost also. If it is solely banks, I need to get some work done...$1,000 minimum is do-able...want to be able to get set for the parks quarters, i know not huge profits, and insane mintage, but its more for historical, educational, and being able to pass on sets to future generations, and not having to pay a buck a quarter as part of a set.
It's sort of unclear what you are asking but, 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.
Really, you can order uncirculated rolls from the mint for no premium? Interesting... So basically, If i want to be able to get my hands on coins at cost, i need to get in bed w/ someone high up in brinks or what not... interesting...it's just when i see companies or dealers selling boxes of quarters or dollars for a very small premium, you know they got them for cost, and i am curious how they did that.
Yep, but only dollars (at the monemt at least... there have been rumors they were thinking about doing this for the Lincoln cents as well). It's a program they started recently with the hopes that it would encourage more widespread circulation of dollar coins. The idea was that private institutions that couldn't order directly from the Federal Reserve (or even banks that were unwilling to order 1000 dollars worth at a time) could order them in smaller lots and get them circulating more widely. I imagine they had vending machine companies in mind too. Private indivduals can avial themselves of this option as well. They are circulation grade (though not yet circulated); the Mint does not consider these to be numismatic products, thus no premium. Not even a shipping charge in fact; just pay face value, and you can get most of the recent dollar coins 250 at a time.
