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FEDERAL RESERVE BANK OF ST. LOUIS
S t . L o u is 2, M o .

A p ril 7, 1949

To the Member B ank Addressed:

This bank will offer a wrapped coin service to member banks which maintain their reserve
accounts with the St. Louis office, effective April 15, 1949. We expect to offer this service at our
branches later if sufficient demand develops. The standard units in which wrapped coin will
be stocked and the charges for wrapping will be in accordance with the following schedule:
Denomination

Stocked in
Bags of

C e n t s ...................................................... S 50
100
N i c k e l s ..................................................
D im e s ......................................................
250
Q u a r te r s ..................................................
500
Halves ..................................................
500

W rapping Charge
Per Bag
$0.60
.30
.35
.35
.35

Wrapped coin will be supplied to a member bank a t its own request, or, for the time
being, a t the request of another member bank; however, no shipments will be made to a nonĀ­
member bank. The reserve account of the member bank requesting the wrapped coin will be
charged with the am ounts of wrapped coin requested and the wrapping charges thereon.
We will continue to absorb transportation costs on shipments of coin, whether wrapped
or loose, to member banks. In view of the substantial transportation costs absorbed, it is
requested th a t loose coin not be deposited in exchange for wrapped coin.
Requests for wrapped coin will be accepted only in multiples of the stock amounts indiĀ­
cated above. When orders do not specifically request wrapped coin they will be filled with
loose coin.
Due to our present limited facilities for wrapping coin, we reserve the right to restrict
the quantity of wrapped coin which will be furnished to any member bank.




A supply of forms for use in requesting wrapped coin will be furnished on request.
C H ESTER C. DAVIS
President

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