Federal Reserve Financial Services (FRFS) announced it will resume accepting pennies from banks and credit unions at commercial coin distribution sites on Jan. 14, after previously suspending these arrangements. The move is intended to better support penny circulation for commercial transactions. While FRFS will continue to accept penny deposits, inventory limits at some sites have constrained activity. The Federal Reserve will monitor the flow of deposits as the changes take effect, which could lead to further expansion of ordering options for pennies, even though new coin production has ended. FRFS’s role is limited to distributing coins on behalf of the U.S. Mint; it does not provide coins directly to businesses or consumers.
Source: Board of Governors of the Federal Reserve System.
Materials reproduced from www.federalreserve.gov.
No endorsement by the Board is implied.
https://www.frbservices.org/news/press-releases/01082026-penny-deposits-update
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