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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)

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