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NAMA National Automatic Merchandising Association FEDERAL RESERVE BANKS ESTABLISH ORDERING PROCESS

SPECIAL LEGISLATIVE BULLETIN NO. 07-2 FOR THE PRESIDENTIAL $1 COIN

Vending Operators Should Contact Their Banks About Ordering The Coins

Federal Reserve Banks recently set up a special six-week ordering process for unmixed Presidential $1 Coins only.  Retail banks will be able to order these George Washington $1 Coins starting February 1, 2007.  Actual distribution to the public will begin February 15th. Federal Reserve Bank offices will provide retail banks with unmixed Presidential Coins in boxes containing $1,000 worth of wrapped $25 rolls or $2,000 bags of unmixed Washington Coins.  Retail banks, or depository institutions as the Federal Reserve refers to them, can continue ordering and receiving unmixed quantities of the Washington Coins unless a Reserve Bank office’s supply runs out.  After March 15th the Federal Reserve Banks will fill orders for $1 coins using its customary practice of providing loose, mixed $1 coins in $2,000 bags. 

When the John Adams $1 Coin is released in May this type of special ordering process will begin again.

The U.S. Mint is urging businesses such as vending, office coffee or foodservice operators to talk with their financial institutions about the new Presidential $1 Coins.  Please contact your bank in January to discuss what your plans are for ordering this coin and about your interest in the new Presidential $1 Coin Program.

Please contact the undersigned with any questions.
                       
Tom McMahon
Senior Vice President and Chief Counsel
Eastern Office

Juli Burrall
Southern Director and Counsel
Southern Office

Brian Allen
Director of Government Affairs and Counsel
Headquarters Office

Sandy Larson
Western Director and Counsel
Western Office

Danielle Del Carlo
Midwest Manager and Counsel
Headquarters Office