Best banks to get rolls?

coinnut86

It is my understanding that certain banks go directly through the fed reserve rather than 3rd parties such as brinks or other security/armored car companies to obtain their coinage. Banks that go directly through the fed tend to have move silver coin in their rolls than those who go through third parties. I believe I recall someone on here telling me Wells Fargo branches go through 3rd parties. Does any know what banks or where I can find out where banks obtain their coin?

ambro51

You might try asking the Bank managers.

mrpotatoheadd

<< <i>Banks that go directly through the fed tend to have move silver coin in their rolls than those who go through third parties. >>

How was this determined?

DaveG

My understanding is that the various Federal Reserve Banks no longer handle coin; they (or at least the ones in the northeast) contract with third parties (such as Brinks) to deliver coin to their customers.

If you're looking for silver, I'd suggest that you seek out branches of smaller banks or credit unions, as they would be more likely to receive deposits of rolled coin from their customers and keep them around.

Branches of bigger banks are pretty aggressive about getting the coin out of their branch and down to headquarters, as coin is a "dead asset" for the branch manager (that is, the coin that is just sitting there isn't generating any profit for the branch).