Fed removes some coin allocation caps

The Federal Reserve removed coin allocations for pennies and quarters while raising caps for nickels and dimes by 25 percent as Reserve Bank coin inventories near pre-pandemic levels.

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. 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 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.