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F e d e r a l r e s e r v e b a n k OF DALLAS Dallas, Texas, September 19, 1951 SHORTAGE IN COIN To the Member Banks in the Eleventh Federal Reserve D istrict: The Treasury Department has informed us of the extreme difficulty the United States Mints are experiencing in meeting unprecedented de mands throughout the Nation for coins of all denominations. Despite an accelerated work program by the Mints, our supply of some denominations is very limited. We understand that the production of coin in the immediate future will be restricted by curtailment in the copper supply allotted to the Mints by the National Production Authority, as well as by possible delays in deliveries occasioned by the current unsettlement in the industry. These developments point to the probability that for the time being the Treasury still will be unable to supply coins to the Reserve Banks in normal quan tities. We shall appreciate it, if you will bring to the attention of your cus tomers the reasons for the coin shortage and solicit their cooperation in returning to circulation all coin in excess of their reasonable needs. It will be helpful in dealing with this situation if your bank will ship to us or our branches at El Paso, Houston, and San Antonio from time to time at our expense, any excess accumulation of coin. 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)
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