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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 necesĀ­
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)


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102