Fed continues removing coin allocation caps

The Federal Reserve removed coin order caps for dimes after similarly ending caps for pennies and quarters last month. Caps will continue for nickels at the Nov. 16 levels given ordering and depositing trends.

In a message to Federal Reserve Cash Services customers, the Fed said it will apply the updated standards to small, medium, large, X-large, and XX-large "endpoint" groups starting today. The sizing regime is based on historical ordering volumes and doesn't correspond to bank size.

The Fed asked customers to order only what they need to meet near-term demand, noting that coin circulation is improving but has not been fully resolved.

Meanwhile, the U.S. Coin Task Force—on which ICBA serves—continues calling on financial institutions to use resources on its Get Coin Moving site to encourage consumers to gather, turn in, and circulate their coins.