Too many nickels? Fed Reserve says no '06 nickels planned to be sent to our local banks

CoinHusker

I recently called our branch of the Federal Reserve here in Omaha and asked when the '06 nickels will be released to the banks here and was told that there are enough nickels in the banks already and there are no plans to release any '06 nickels at this time.


What If I put in a order for a box at the bank? Will it get refused?


Is this the price we pay for all those design changes over the past 2 years?


edit ot fix some spelling

2nd edit for "idiot moment"

19Lyds

Looks kinda like it. I guess we'll have to just wait for them to show up.

The upside to this is that the nickel sets from the mint may go up because of the perceived shortage.

Edited to add that current production figures show:

154,320,000 - Denver
159,360,000 - Philly
313,680,000 - Total

So the money is there, it just hasn't been released yet.

cladking

<< <i>I recently called our branch of the Federal Reserve here in Omaha and asked when the '06 nickels will be released to the banks here and was told that there are enough nickels in the banks already and there are no plans to release any '06 nickels at this time.


What If I put in a order for a box at the bank? Will it get refused?


Is this the price we pay for all those design changes over the past 2 years?
>>



Sometimes a FED district will have a net inflow of a coin so the FED won't order
any from the mint. If this inflow is too great then they'll even ship coin out but
they will fill storage first. If this is the case then there simply won't be any coin
in your area to special order and you'll have to trade or buy them from someone.

Steve27

"Too many nickels? Fed Reserve says no '06 quarters planned to be sent to our local banks"

Is that "quarters" in the title a typo?

bhartman35

So...I take it that nickel I posted last week will be the last I see if the 06's....

Trinketts

Hmmmmm I have gone through 100's of 2006-D nickel rolls...

OKbustchaser

<< <i>"Too many nickels? Fed Reserve says no '06 quarters planned to be sent to our local banks"

Is that "quarters" in the title a typo? >>



No, just Key word spamming

BulletBiter

I was able to get one roll of 2006-D's at a local bank that usually doesn't carry anything new. At a bank that I can normally can get box after box of new stuff from, as of yesterday, still has not gotten any of the new nickels. 2006 has just seemed to be wierd in that sense. I picked up rolls of cents and dimes, but thats it so far.

CoinHusker

<< <i>
Is that "quarters" in the title a typo? >>




It was. Sorry. Can't say it was a senior moment...but it's getting close.

CoinHusker

<< <i>
Sometimes a FED district will have a net inflow of a coin so the FED won't order
any from the mint. If this inflow is too great then they'll even ship coin out but
they will fill storage first. If this is the case then there simply won't be any coin
in your area to special order and you'll have to trade or buy them from someone. >>




Thanks. That was the impression I got from speaking to the person on the phone. Drats!

gyocomgd

Ideally they'd make about 5. And give one of them to me.

WANNABEDEALER

The Fed can do that. When I was in California we could not get state quarters from most banks for months, as the Fed in LA would not release them, but if your bank had a main office in San Franscisco you could get them right away.

fishcooker

Might just be better to spend the time and money on a Mint Set, if they are going to be difficult.

bhartman35

On a related note:

How does one get a bank to sell you bank rolls? Last year, I tried to get a roll of Sacs, and was told by the person in the bank that they "don't do that". Is there a secret handshake or a password involved, other than, "Stick 'em up!"?

19Lyds

<< <i>On a related note:

How does one get a bank to sell you bank rolls? Last year, I tried to get a roll of Sacs, and was told by the person in the bank that they "don't do that". Is there a secret handshake or a password involved, other than, "Stick 'em up!"? >>



Ordering coin costs the bank money and generally speaking they will not order what is not used. However, if you use the secret handshake (a smile) and the correct passwords (a simple explanation of what you are doing) they might just order them for you. Having an account always helps and in most cases is required. Additionally, most banks will not order or offer single rolls but will order you a box of them. You'd have to take the whole box or nothing at all especially with an uncommon coin such as the SAC. This has been my experience with halves ($500 box), quarters ($500 box) and nickels ($100 box). I do not know what size box the SACs come in but that would be an awful lot of year 2000 SACs!

bhartman35

Thanks, 19Lyds.

I think that for my purposes, going through change will suffice. I didn't realize you had to order in such large quantities. I'm not even sure how I would get a box home, actually. It's not the kind of thing I can easily roll home with.

I've gotten lots of 2006 pennies, and a 2005 Peace Medal nickel yesterday, but only that lone 2006 nickel so far. (I've actually been scheming of ways to buy things which will give me nickels in my change.)

TorinoCobra71

Bummer for ya. I got my first 2006 Return to Monticello nickel at the weekly poker gathering last nite!

TorinoCobra71

Coinhog

<< <i>Might just be better to spend the time and money on a Mint Set, if they are going to be difficult. >>




Yeah, but there not the same are they? I mean the mint set has that funky satin finish. If it doesn't have luster, is it a real coin?

oreville

Interesting.

Did the US Mint limit production of 2006 dated nickels to the quantity normally for mint sets yet?

I checked the US Mint web site and I see that they are selling the US MInt rolls and bags of the 2006 nickels.
No limit on quantities.

librtyhead

the 2007 mint sets are looking better!

coinnut86

Went to a Bank in Council Bluffs today. The teller told me they would not be getting any 06 nickels because they are not considered collectables like the state quarters I stopped to make sure I heard her correctly, and she again repeated it. that makes no sense to me but what the heck do I know

cladking

<< <i>Went to a Bank in Council Bluffs today. The teller told me they would not be getting any 06 nickels because they are not considered collectables like the state quarters I stopped to make sure I heard her correctly, and she again repeated it. that makes no sense to me but what the heck do I know >>



The mint still doesn't sell penny or dime rolls and these can sometimes be hard to locate as well.

The dime rolls can be especially tough to get since even if your bank is willing to help you, they may
not get any. Cents are in high demand because they are so worthless people throw them away.
This will assure all banks get at least a few new cents.

beartracks42

I went to a local bank with a collector friend yesterday and they had 2 $1000 Mint boxes of 2000-D sacs in mint roll wrappers for him.. This makes 4 of the $1000 boxes he has bought this week. I got 4 rolls.

KoinDawg

I bought one P and one D bag of 2006 Nickels (500 coins per bag) from the U.S. Mint website for $49.95 each and they will be delivered within a week. Those anxious to start picking through them should buy from the U.S. Mint (with added premium).

I bought a box of 2005 pennies from my local bank. Been through about 6-7 rolls and nothing interesting except they all have small blackish type spots on them like oil splattered. If I find a really nice one, how can I get the splatters off without destroying the luster?

bhartman35

I just picked up 2 rolls from the Mint. If they're not releasing them to banks, those might be the only ones I see this year.

AgMe

My bank (BoA) branch has not received any either... ALTHOUGH they still have a QTY of OIV left over...

Will the '06's be a sleeper?

pontiacinf

geesh I was complaining when this thread first started because I had not gotten any yet...that changed monday as I picked 100$ of phili issues

aficionado

<< <i>My bank (BoA) branch has not received any either... ALTHOUGH they still have a QTY of OIV left over...

Will the '06's be a sleeper? >>




Not likely. Don't forget they'll produce this coin ALL YEAR. The past four coins were made for 6 month's. The 2006 mintage will surpass all the other Lewis and Clark coins, guaranteed.

coinnut86

<< <i>

<< <i>My bank (BoA) branch has not received any either... ALTHOUGH they still have a QTY of OIV left over...

Will the '06's be a sleeper? >>




Not likely. Don't forget they'll produce this coin ALL YEAR. The past four coins were made for 6 month's. The 2006 mintage will surpass all the other Lewis and Clark coins, guaranteed. >>



yah, but if they don't make it to the banks, how do they circulate?
sure there might be 1 or 2 in a roll, but that kind of makes them hard to get

streeter

I was always under the impression that when the banks aren't ordering more coins then that is one pretty good indication that the economy may be cooling. If the MINT produced enough 06 nickels and they delay in releasing them--then it would strike me that the 07 nickel mintage might reflect that glut.

What do I know? Not much because I've been getting my nickels at wally world whenever I need them.