US Mint Coin Production Edges Above 1 Billion in April 2014

by Mike Unser on May 9, 2014 · 2 comments

Rolls of Lincoln Cents

58.3% of all the coins produced for circulation in April were pennies

U.S. Mint facilities in Philadelphia and Denver struck fewer coins in April than the previous month and the same time last year, circulating coin production figures published Thursday by the bureau show.

In April 2014, circulation production totaled 1,007,960,000 coins for a 1.7% decrease from March and a 9.8% decline from April 2013. The month ranks 9th busiest for the United States Mint through the last 12 months.

2013 – 2014 April Coin Production Figures

Month Mintages Rank
April 2014 1,007.96 M 9
March 2014 1,025.40 M 8
February 2014 939.04 M 11
January 2014 1,449.38 M 1
December 2013 285.96 M 13
November 2013 991.14 M 10
October 2013 1,220.38 M 3
September 2013 1,099.34 M 5
August 2013 724.91 M 12
July 2013 1,225.96 M 2
June 2013 1,070.12 M 7
May 2013 1,084.36 M 6
April 2013 1,117.23 M 4

 

As an always provided backdrop in our monthly coin production reports, the United States Mint does not decide how many coins to produce for circulation. It’s the Federal Reserve that orders coins from the Mint based on usage trends and coinage requests from financial institutions around the country.

Lincoln cents are always the most ordered denomination for trade and commerce even as it costs the U.S. Mint 1.83 cents to make and distribute each one. The Mint in April struck 587.2 million pennies, which is 58.3% of all the circulating coins produced for the month.

For all the coins used every day by Americans and in month-over-month comparisons, April saw:

  • 3.9% fewer Lincoln cents,
  • 10.6% more Jefferson nickels,
  • 0.9% fewer Roosevelt dimes, and
  • 3.5% more America the Beautiful Quarters

Presidential $1 Coins, Native American $1 Coins and Kennedy halves are not ordered by Federal Reserve Banks but the U.S. Mint continues to make them in circulating-quality for coin collectors. In January, the U.S. Mint manufactured 2014 Native American $1 Coins and 2014 Kennedy halves to the expected amounts needed for the entire year. It continues to produce Presidential dollars to support the four different 2014 releases.

Here is a breakdown for all the circulating-quality coins made by the U.S. Mint in April:

US Mint Circulating Coin Production in April 2014

Denomination Denver Philadelphia Total
Lincoln Cents 288,000,000 299,200,000 587,200,000
Jefferson Nickels 39,360,000 63,120,000 102,480,000
Roosevelt Dimes 82,000,000 92,500,000 174,500,000
2013 ATB Quarters 62,400,000 79,000,000 141,400,000
Kennedy Half Dollars 0 0 0
Native American $1s 0 0 0
Presidential Dollars 2,380,000 0 2,380,000
Total 474,140,000 533,820,000 1,007,960,000

 

U.S. Mint facilities in Philadelphia and Denver make all the circulating coinage for commerce. In April, the Denver Mint struck 474.14 million coins and the Philadelphia Mint struck 533.82 million coins.

For the January through April period, the Denver Mint produced 2,280,240,000 coins and the Philadelphia Mint produced 2,141,540,000 coins. That lifts the year-to-date total for both plants to 4,421,780,000 coins for a 5.2% increase over the 4,204,770,000 coins minted through the first four months of 2013.

This next table offers 2014 coin production totals by denomination and by U.S. Mint facility:

YTD 2014 Circulating Coin Production by Denomination

1 ¢ 5 ¢ 10 ¢ 25 ¢ 50 ¢ N.A. $1 Pres $1 Total:
Denver 1326M 193.92M 370M 368.2M 2.1M 5.6M 14.42M 2280.24M
Philadelphia 1267.6M 202.08M 380M 266.4M 2.5M 3.08M 19.88M 2141.54M
Total 2593.6M 396M 750M 634.6M 4.6M 8.68M 34.3M 4421.78M

 

The current monthly average of just over 1.1 billion coins places this year on pace for an annual coin production total of more than 13.2 billion coins. That would be the highest total since 2007. Last year, the U.S. Mint produced a tad over 11.9 billion coins in circulating quality.

Aside from pennies, nickels and dimes, March figures did not fill any new gaps for mintages by coin design.

2014 Circulating Coin Production / Mintages by Coin Design

  Denver Philadelphia 2014 Total
Lincoln Cents 1,326,000,000 1,267,600,000 2,593,600,000
Jefferson Nickels 193,920,000 202,080,000 396,000,000
Roosevelt Dimes 370,000,000 380,000,000 750,000,000
Great Smoky Mountains Quarter 99,400,000 73,200,000 172,600,000
Shenandoah National Park Quarter 197,800,000 112,800,000 310,600,000
Arches National Park Quarter
Great Sand Dunes Quarter
Everglades National Park Quarter
Kennedy Half Dollars 2,100,000 2,500,000 4,600,000
Native American $1 5,600,000 3,080,000 8,680,000
Warren G. Harding $1 3,780,000 6,160,000 9,940,000
Calvin Coolidge $1 3,780,000 4,480,000 8,260,000
Herbert Hoover $1 3,780,000 4,480,000 8,260,000
Franklin D. Roosevelt $1
Total 2,206,160,000 2,056,380,000 4,262,540,000

 

In comparing the totals by coin design from the overall production figures by denomination, two differences are found:

  • Mintages of America the Beautiful Quarters are higher by 151.4 million. These are a portion of the Arches National Park Quarters which enter circulation beginning on June 9, 2014.

  • Mintages of Presidential $1 Coins are higher by 7.84 million. This amount is a portion of the Franklin D. Roosevelt dollars which launch in August.

Coin production figures in this coin news article are based on data aggregated from the U.S. Mint webpage at: http://www.usmint.gov/about_the_mint/?action=coin_production.

{ 2 comments… read them below or add one }

Griffin May 9, 2014 at 2:04 pm

Has anyone given thought as to how many U.S. coins are floating around in circulation right now? All things being constant, lets say the two main mints create 1B coins a month = 12 B a year X 30 years (Avg. life of a coin in circulation) = 360 Billion coins (most if it in Pennys). We only have 300 Million people living in this country, so why are we pumping so much coinage and currency into our hands? The value of the dollar keeps going down, in part because we have so much of it floating around out there. What if we didn’t put any coins into circulation for 5 years, and only minted coins for collectors? Think of the effect it would have on the value of our all mighty dollar.
This is just my opinion. Anyone else agree?

Munze May 10, 2014 at 5:52 pm

The number of coins in circulation is very unlikely to result in inflation. Coins are needed mostly for making change, so IMO increased demand for coins is a good thing: Even though most purchases are electronic, an increase in coin usage would still correlate with an increase in economic activity.

Now if you ask me if the Mint and Treasury should still be pumping out huge numbers of cents and paper dollars, that’s an argument I’m prepared to make. It’s ridiculous for half of the BEP’s production to be $1 bills and maybe 2/3 of the Mint’s output to be cents. Get rid of the penny and dollar bill, use $2 bills or $2 coins, and maybe out currency would be less outdated and more efficient.

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