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Federal reserve Bank OF DALLAS Dallas, Texas, April 20, 1943 NICKELS AND PENNIES To the Nonmember Banks in the Eleventh Federal Reserve District: On November 30, 1942, at the request o f the Treasury Department, we addressed a circular letter to all banking institutions in this District regarding the temporary shortage of nickels and pennies, caused by neces sary delays incident to the production of coins of a new metal content. In order to effect a better distribution of nickels and pennies during that emergency, all banking institutions were requested to ship to the Federal Reserve bank nickels and pennies in excess of their absolute needs. The banks were advised that such shipments should be made by express, collect. As a result of the cooperation received from banks and others, and in view of the production o f new coins by the mints, ample supplies of nickels and pennies are now available. The Treasury Department has therefore informed us that after April 30, 1943, we will not be reimbursed for the transportation costs on shipments of nickels and pennies made to this bank by nonmember banks. Accordingly, the provisions of our circular letter of November 30, 1942, applicable to shipments made by nonmember banks, will not be effective after April 30, 1943. Yours very truly, R. R. GILBERT President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)