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Question about Rev. Dr. Pauli Murray quarters distribution

Hello all. I am over the moon about this Rev. Dr. Pauli Murray quarter and have already made an order through the mint that will be shipped February 15th. I read on Coin News that on "Tuesday, Jan. 2, the United States Mint will begin shipping 2024 Reverend Dr. Pauli Murray quarters to Federal Reserve Banks and their coin terminals for distribution into circulation."

My question: Will the main 12 FRBs be distributing quarters to their "smaller" banks (Bank of America, M&T, PNC, etc) and if so, when does this happen?

https://www.coinnews.net/2023/12/27/reverend-dr-pauli-murray-quarter-enters-circulation-on-january-2/

Thanks everyone. Have a great weekend!
Rosita

Comments

  • yosclimberyosclimber Posts: 4,543 ✭✭✭✭✭
    1. Mint transports the coins to the Federal Reserve Banks.
      Armored cars and trucks take the coins from the Philadelphia or Denver Mint facilities to the Reserve Banks’ 28 branch offices and more than 100 private sector coin terminals. The coin terminals are operated by armored carrier services contracted by the Federal Reserve.

    2. Federal Reserve Banks distribute to depository institutions.
      The Reserve Banks’ depository institutions place orders for coins. The armored carriers transport the coins from the coin terminals to the depository institutions.

    3. The coins enter circulation and cycle between banks, businesses, and people.
      The depository institutions place the new coins in circulation by exchanging them with their customers, both businesses and individuals. They also give the coins to other banks that aren’t depository institutions with the Reserve Banks.
      The new coins then become part of the circulation cycle.

    Coin Circulation Cycle
    New coins account for less than 20 percent of the total coins in circulation. The rest are coins made in previous years that continue circulating. The average lifespan of a coin is about 30 years.

    from
    https://www.usmint.gov/news/inside-the-mint/how-coins-are-made-bringing-coins-into-circulation

    I don't think there is an exact schedule.
    It depends on when the coins are ordered.
    And for smaller banks, it depends on the upstream branches in the network.
    My guess is that your bank may have them in late January or February.

  • MsMorrisineMsMorrisine Posts: 32,036 ✭✭✭✭✭
    edited December 29, 2023 5:15PM

    the frb banks don't distribute coins into circulation. only retail banks do.

    https://www.frbservices.org/resources/financial-services/cash/american-women-quarters-program

    The Federal Reserve distributes coins to depository institutions to meet transactional demand, without regard to specific design. An order placed on or after the release of a specific design does not guarantee that any quantity of that design will be used to fill the order.

    The American Women Quarters Program is a four-year program that celebrates the accomplishments and contributions made by women to the development and history of our country. Beginning in 2022, and continuing through 2025, the U.S. Mint will issue up to five new designs each year. Consumers interested in purchasing specific coins should contact their depository institutions or visit the U.S. Mint website (Off-site).

    people that get boxes generally have some kind of relationship with a bank and one part is generally but not necessarily a business account.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions

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