Two masked robbers hit a security van guard with a crowbar before fleeing with cash.
The robbery happened outside the Walsall Housing Group building, in Hatherton Street, Walsall.
Police said two robbers wearing balaclavas had threatened the cash-in-transit guard before breaking his helmet visor by hitting him with a crowbar.
He suffered a graze on his face.
The men fled on foot in the direction of nearby Butts Road, in Butts.
The social housing landlord said no one inside the premises was involved in the incident, which happened at 10.35am.
Dc Paul Reeves is urging anyone with information to call Walsall CID on 101.