Presidential Coins early Release
Maybe it isn't directly related to the Mint
I've been reading about the early release of the Presidential coins, primarily on the TV sites. I think that there is a simple reason behind this.
I worked for an armored car company for about 10 years. In that time I saw the introduction of the SAC $1 and state quarters. In the case of the quarters, they came to the local Fed banks in bulk, unrolled. They were then sent to the larger local armored car companies to be rolled and distributed to the banks in their weekly deliveries. These coins had to be in the hands of the armored car companies, in some cases for weeks, to get rolled and boxed for delivery. As a side note, when the Delaware quarters became 'scarce' there were 1000's of rolls at the armored car company. They were in the business of selling them in some way for a profit. I am unsure of the means, but banks were told they were unavailable. Ebay, TV ... not sure.
The Sac's came from the Mint rolled to the Fed in Mint wrappers. (Not the String and Son orange warpper that are generic and used by many armored car companies.) From what I understand this is the way the new Presidential coins are arriving. My info is that they have been at the Fed banks for some time. I'd estimate at least a month possibly more. The armored car companies then pick them up for bank delivery. Obviously, to get them to the bank for the 15th of Feb. the armored car companies have them early. Most bank deliveries are weekly. So they MUST be available at least 1 week prior, but in the armored car world where everything takes 3 tries and 4 times as long, they have had them for 2-3+ weeks in my estimation.
The Fed is very regulated, and secure as one can expect. The coins are not leaked from them. But once an armored car company gets them, they are a business ... well you put 2 + 2 together.
0 Comments
Recommended Comments
There are no comments to display.
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now