The Federal Reserve Banks have amended Operating Circular 2, Cash Services, to address the pre-release of new and special coin, such as the Presidential Dollar Coins.
Depository institutions that pre-order new and special coin are prohibited from releasing such coin to customers or the public prior to the official release date, but may distribute the coin within their institution, to their cash vaults and to their respondent banks. These steps are being implemented to help ensure that an adequate supply of Presidential Dollar Coins is available to the public, and it is anticipated that a similar process may be followed for other future special coin releases as well.
The amendment to OC2 is now effective, and your continued use of the Reserve Bank’s cash services constitutes agreement to the new terms of the operating circular.
See the operating circulars page of the Federal Reserve Services website for the official versions of these amended circulars. To request a paper copy of the operating circulars, contact your Customer Contact Center.