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Circular No. 7^-197
July IT, 1974

To the Chief Executive Officer, Each Bank
in the Eleventh Federal Reserve District:

The Mint has recently advised us that a critical shortage of
coin bags may materialize in the near future unless the bags now being
held by commercial banks are returned.

Mint bags are generally reused

an average of four times; however, it is estimated that less than 15
percent of the 11,500 bags shipped each day are ever returned.


bag production facilities are working overtime, but the number of new
coin bags being produced is insufficient to fill the deficit between
those returned and the quantities required to sustain the current levels
of coin production and shipment.
In order to assist the Mint in alleviating its coin bag shortage
problem and to help us in effecting greater use of our coin bags, I ask
that you ship to us, as soon as possible, all Mint and Federal Reserve
coin bags in your bank.

These shipments can be made by armored carrier

at the time money deliveries are made, if car space is available, or by
fourth-class mail.

Your bank will be reimbursed for any mail expense

As in the past, we will continue to return money sacks bearing

the name of your bank to you at our expense.
Yours very truly,
P. E. Coldwell

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