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FEDERAL R E SE R V E BANK OF DALLAS Dallas, Texas, March 6,1964 JOHN F. KENNEDY HALVES To All Banks in the Eleventh Federal Reserve D istrict: The new John F. Kennedy half dollar will be available for distribution to banks in limited amounts beginning March 24, 1964. In order to furnish each bank (member and nonmember) as equitable a supply as possible of the nominal amount available for initial distribution, it is necessary to prorate the coin available to banks by size groups; however, no bank will receive less than $500.00 unless it specificially requests a lesser amount. While the initial demand for this coin will likely be heavy because of the special circumstances underlying its issuance and because it is a new coin, it is well to realize th at it is a regular issue rather than a single issue commemorative coin and th at it will be available at least for the next twenty-five years as the regular half dollar. It is requested, therefore, th at banks discourage customers who might want to withdraw large amounts of the coin from circulation for speculative or hoarding purposes. Member banks th at wish to receive their share of the initial supply should send a separate regular order form (Cash 15) to this bank or appropriate branch, marked “Send me my share of the Kennedy halves.” Nonmember banks should make similar requests through their usual sources. Member banks receiving such requests from nonmembers should relay their orders to this bank or appropriate branch, using form Cash 15 or a letter to specify Kennedy halves and to list the names and locations of the nonmember banks. All orders for this coin should be separate from orders for other coin or currency and must be received by us on or before March 16. Orders from member banks for themselves or for nonmembers will constitute authority to charge their reserve accounts for the amount of the coin allotted, which in most cases will range from $500.00 to $1,000.00, except for a few of the larger banks. If any bank already has sent us an order, it should reorder as specified. All shipments of the coin will be made on March 24; however, since in some cases shipments made a day or so later by armored car will arrive about as promptly as those made by mail on the 24th and will involve less difficulty to the member banks than mail shipments, banks now served by armored car will be given the option of specifying delivery on the first armored car delivery to them after March 24. Banks wishing to take advantage of this option should mark their orders to indicate armored car delivery. Coin not ordered for armored car delivery will be sent by mail. Shipments for nonmember banks during this initial distribution will be made directly to them at the risk and expense of the ordering member banks, or to the member bank functioning such orders, if so requested. Nonmembers located in a Reserve bank or branch city may obtain their coin in the usual manner. A fter this initial distribution, we will return to our regular coin shipment policy of supplying coin only to meet the needs of commerce and industry as a medium of exchange, without regard to the date and place of mintage or whether the coin is new or circulated. Yours very truly, W atrous H. Irons President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)