US Mint Coin Production in 2014 Tops 13.2 Billion

by Mike Unser on January 12, 2015 · 9 comments

Coin Counting and Bagging Machine at Denver Mint

These machines at the Denver Mint count newly produced coins for circulation

The United States Mint was busy last year. The agency struck more than 13.2 billion coins for circulation in 2014, marking a fifth straight year of growth and the quickest annual pace since 14.4 billion coins were produced in 2007.

Combined, U.S. Mint production facilities in Denver and Philadelphia made 13,283,760,000 coins for the Federal Reserve to distribute to commercial banks and other financial institutions around the nation. That’s 11.6% higher than the 11.9 billion coins minted for commerce in 2013 and 274.4% more than in 2009 when mintages bottomed to just 3,548,000,000 coins.

Pennies led gains last year, advancing 15.2% from 2013. More than 8.1 billion were minted, representing 61.3% of the year’s production total. Ironically, it costs 1.7 cents to strike and distribute each one, so the most made coin is a money-loser for the government.

Two denominations retreated. Down the most was nickel production, off 1.4% from a year earlier. Each costs 8.1 cents to make and distribute. The Mint did earn good revenue on striking 9% more dimes and 8.6% more quarters since their respective costs are 3.9 cents and 9 cents.

Here is a breakdown of the annual coin production levels adjusted on a per coin basis from 2013 to 2014:

US Mint Annual Coin Production (2014 vs 2013)

  Year 2013 Year 2014 2014 Unit Gain / Loss 2014 % Gain / Loss
Cents 7,070,000,000 8,146,400,000 1,076,400,000 15.2%
Nickels 1,223,040,000 1,206,240,000 -16,800,000 -1.4%
Dimes 2,112,000,000 2,302,500,000 190,500,000 9.0%
Quarters 1,455,200,000 1,580,200,000 125,000,000 8.6%
Half Dollars 9,600,000 4,600,000 -5,000,000 -52.1%
Native American $1 3,640,000 8,680,000 5,040,000 138.5%
Presidential $1s 33,460,000 35,140,000 1,680,000 5.0%
Annual Production 11,906,940,000 13,283,760,000 1,376,820,000 11.6%

 

When looking at these tables, bear in mind that Kennedy half-dollars, Native American $1 Coins and Presidential $1 Coins are no longer produced for commerce — Federal Reserve Banks do not order them. The U.S. Mint now strikes these coins in smaller quantities and they are only available in products for coin collectors.

Coins for circulation originate from either the Denver Mint or Philadelphia Mint. Last year, the two facilities were close in total output. The plant in Denver produced over 6.7 billion coins while the one in Philadelphia struck more than 6.5 billion coins. Here is a table with 2014 circulating coin mintages by both design and production facility:

2014 Circulating Coin Production by Design

  Denver Philadelphia 2014 Total
Lincoln Cents 4,155,600,000 3,990,800,000 8,146,400,000
Jefferson Nickels 570,720,000 635,520,000 1,206,240,000
Roosevelt Dimes 1,177,000,000 1,125,500,000 2,302,500,000
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 251,400,000 214,200,000 465,600,000
Great Sand Dunes Quarter 171,800,000 159,600,000 331,400,000
Everglades National Park Quarter 142,400,000 157,601,200 300,001,200
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 3,920,000 4,760,000 8,680,000
Total 6,789,050,000 6,494,681,200 13,283,761,200

 

And this next table lists 2014 coin production totals by denomination and by U.S. Mint facility:

2014 Circulating Coin Production by Denomination

1 ¢ 5 ¢ 10 ¢ 25 ¢ 50 ¢ N.A. $1 Pres $1 Total:
Denver 4155.6M 570.72M 1177M 862.8M 2.1M 5.6M 15.26M 6789.08M
Philadelphia 3990.8M 635.52M 1125.5M 717.4M 2.5M 3.08M 19.88M 6494.68M
Total 8146.4M 1206.24M 2302.5M 1580.2M 4.6M 8.68M 35.14M 13283.76M

 

Annual America the Beautiful Quarter mintages continue to grow as the series matures. Last year they topped 1.58 billion. Mintages in prior years reached:

  • 347 million in 2010;
  • 391.2 million in 2011;
  • 568 million in 2012; and
  • 1.455 billion in 2013

Twenty-five different designs have been released through 2014. Last year brought no change to the quarter sitting at the mintage high or low. The 2013 Mount Rushmore quarter remains the mintage leader by design with 504.2 million produced and the 2012 Chaco Culture quarter remains at the bottom with 44 million.

Since the start of the America the Beautiful Quarters series, the Mint has made more than 4.3 billion of them with each honoring a specific national park or national site in the United States or its territories. Here is a breakdown of production totals by quarter design and coin production facility:

2010 – 2014 America the Beautiful Quarters Mintages

  Denver Philadelphia Total
2010 Hot Springs National Park 34,000,000 35,600,000 69,600,000
2010 Yellowstone National Park 34,800,000 33,600,000 68,400,000
2010 Yosemite National Park 34,800,000 35,200,000 70,000,000
2010 Grand Canyon National Park 35,400,000 34,800,000 70,200,000
2010 Mount Hood National Forest 34,400,000 34,400,000 68,800,000
2011 Gettysburg National Military Park 30,400,000 30,800,000 61,200,000
2011 Glacier National Park 31,200,000 30,400,000 61,600,000
2011 Olympic National Park 30,600,000 30,400,000 61,000,000
2011 Vicksburg National Military Park 33,400,000 30,800,000 64,200,000
2011 Chickasaw National Recreation Area 69,400,000 73,800,000 143,200,000
2012 El Yunque Quarter 25,000,000 25,800,000 50,800,000
2012 Chaco Culture Quarter 22,000,000 22,000,000 44,000,000
2012 Acadia Quarter 21,606,000 24,800,000 46,406,000
2012 Hawai’i Quarter 78,600,000 46,200,000 124,800,000
2012 Denali Quarter 166,600,000 135,400,000 302,000,000
2013 White Mountain Quarter 107,600,000 68,800,000 176,400,000
2013 Perry’s Victory Quarter 131,600,000 107,800,000 239,400,000
2013 Great Basin Quarter 141,400,000 122,400,000 263,800,000
2013 Fort McHenry Quarter 151,400,000 120,000,000 271,400,000
2013 Mount Rushmore Quarter 272,400,000 231,800,000 504,200,000
2014 Great Smoky Mountains Quarter 99,400,000 73,200,000 172,600,000
2014 Shenandoah National Park Quarter 197,800,000 112,800,000 310,600,000
2014 Arches National Park Quarter 251,400,000 214,200,000 465,600,000
2014 Great Sand Dunes Quarter 171,800,000 159,600,000 331,400,000
2014 Everglades National Park Quarter 142,400,000 157,601,200 300,001,200
Total 2,349,406,000 1,992,201,200 4,341,607,200

 

Since the inception of the Presidential $1 Coin Program in 2007, nearly 2.5 billion Presidential dollars have been produced. Annual increases will only inch higher as compared to earlier years when the coins had been made for circulation. Here’s a look at their mintages:

2007 – 2014 Presidential $1 Coin Mintages

  Denver Philadelphia Total
2007 George Washington $1 163,680,000 176,680,000 340,360,000
2007 John Adams $1 112,140,000 112,420,000 224,560,000
2007 Thomas Jefferson $1 102,810,000 100,800,000 203,610,000
2007 James Madison $1 87,780,000 84,560,000 172,340,000
2008 James Monroe $1 60,230,000 64,260,000 124,490,000
2008 John Quincy Adams $1 57,720,000 57,540,000 115,260,000
2008 Andrew Jackson $1 61,070,000 61,180,000 122,250,000
2008 Martin Van Buren $1 50,960,000 51,520,000 102,480,000
2009 William H. Harrison $1 55,160,000 43,260,000 98,420,000
2009 John Tyler $1 43,540,000 43,540,000 87,080,000
2009 James K. Polk $1 41,720,000 46,620,000 88,340,000
2009 Zachary Taylor $1 36,680,000 41,580,000 78,260,000
2010 Millard Fillmore $1 36,960,000 37,520,000 74,480,000
2010 Franklin Pierce $1 38,360,000 38,220,000 76,580,000
2010 James Buchanan $1 36,540,000 36,820,000 73,360,000
2010 Abraham Lincoln $1 48,020,000 49,000,000 97,020,000
2011 Andrew Johnson $1 37,100,000 35,560,000 72,660,000
2011 Ulysses S. Grant $1 37,940,000 38,080,000 76,020,000
2011 Rutherford B. Hayes $1 36,820,000 37,660,000 74,480,000
2011 James Garfield $1 37,100,000 37,100,000 74,200,000
2012 Arthur Presidential $1 4,060,000 6,020,000 10,080,000
2012 Cleveland (1st Term) Presidential $1 4,060,000 5,460,000 9,520,000
2012 Harrison Presidential $1 4,200,000 5,640,001 9,840,001
2012 Cleveland (2nd Term) Presidential $1 3,920,000 10,680,000 14,600,000
2013 William McKinley $1 3,365,100 4,760,000 8,125,100
2013 Theodore Roosevelt $1 3,920,000 5,310,700 9,230,700
2013 William Howard Taft $1 3,360,000 4,760,000 8,120,000
2013 Woodrow Wilson $1 3,360,000 4,620,000 7,980,000
2014 Warren G. Harding $1 3,780,000 6,160,000 9,940,000
2014 Calvin Coolidge $1 3,780,000 4,480,000 8,260,000
2014 Herbert Hoover $1 3,780,000 4,480,000 8,260,000
2014 Franklin D. Roosevelt $1 3,920,000 4,760,000 8,680,000
Total 1,227,835,100 1,261,020,700 2,488,855,800

 

December is typically an extremely slow coin production month as the U.S. Mint readies its tooling for the next year’s coins. Some Decembers have come in at or near flat. Last month was very strong historically at 878.4 million coins, jumping 207.3% from December 2013. Still, it was the slowest month of 2014 as the following table shows:

2013 – 2014 December Coin Production Figures

Month Mintages Rank
December 2014 878.84M 12
November 2014 958.78 M 9
October 2014 1,168.78 M 5
September 2014 1,004.24 M 8
August 2014 913.38 M 11
July 2014 1,331.34 M 2
June 2014 1,279.82 M 4
May 2014 1,326.80 M 3
April 2014 1,007.96 M 7
March 2014 1,025.40 M 6
February 2014 939.04 M 10
January 2014 1,449.38 M 1
December 2013 285.96 M 13

 

Production in December was limited to three denominations, the cent, nickel and dime. This last table show’s how their mintages break down:

US Mint Circulating Coin Production in December 2014

Denomination Denver Philadelphia Total
Lincoln Cents 323,200,000 313,200,000 636,400,000
Jefferson Nickels 0 43,440,000 43,440,000
Roosevelt Dimes 96,500,000 102,500,000 199,000,000
2013 ATB Quarters 0 0 0
Kennedy Half Dollars 0 0 0
Native American $1s 0 0 0
Presidential Dollars 0 0 0
Total 419,700,000 459,140,000 878,840,000

 

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=ProductionFigures.

{ 9 comments… read them below or add one }

jim January 12, 2015 at 11:43 am

They made 8 billion pennies? Where did they all go? They’re coins, they don’t wear out like dollar bills, they should last for years – do we have that many hoarders?

And half dollars – during the 50th year anniversary of the coin where they had so many different varieties of finishes and sentimental reasons for buying they ended up selling 5 million fewer.

Native American $1 coins went up by 5 million. Why did that happen? Why the sudden interest in Native American $1 coins or the 2014 version anyway? Has the mint done any kind of analysis to understand why these numbers changed so dramatically?

Brad January 12, 2015 at 1:08 pm

Don’t get your undies in a bind, Jim

dale January 12, 2015 at 5:53 pm

and slowly the copper penny disappears ,,,,from our change,

dale January 12, 2015 at 5:57 pm

yea. redskin fans are picking them up to use in game toss !!!

Vadim January 12, 2015 at 10:05 pm

With so much pennies made, how come I can’t get new rolls from a bank. All I want is a roll or two! They never have them. Anyone has a suggestion on where I can get them?

Vachon January 14, 2015 at 10:38 am

@jim : The thing with pennies is that they’re not worth the trouble of using. Their attrition rate is nearly 100% meaning many cents just get used once (when given out in change) and sit around for weeks or months at a time before getting used again or turned into a CoinSTAR. That’s also why you’ll frequently come across cents made in the 1970s that still have nearly all their luster intact even though from what we’ve been told, a 40+ year old coin should be worn nearly slick.

This is true for all our circulating coins and it’s even affecting quarters now. Working as a cashier I’ve noticed cents typically stop showing obvious signs of circulation by the mid-1960s; nickels by mid-1970s (heavy wear stops by about the early 1950s); dimes by the mid-1980s; and quarters don’t show much wear after the early 1990s. State Quarters (or the last eagle ones from the late 1990s) that are now 15 years old should be showing significant wear but they tend to look fairly unused despite.

I’ve yet to see a clad dime or quarter that’s been worn down to a slick (or even more than the slightest wearing into the outer edge’s lettering) and their earliest examples are now 50 years old, well past the typical circulation lifetime stated.

On a side note, the total production of ATB quarters from 2010-2014 is now almost equal to the first year of State Quarter production in 1999 (short like 90 million pieces). The program’s half over and only just now cutting into the prior program’s second year.

Kahoola January 15, 2015 at 12:10 am

Again the orphan San Francisco ATB quarters do not rate a column in the circulation quality ATB production figures. It is as if they do not exist. Is the Mint ashamed of them? Have they all been abducted by aliens and now sit on some other planet?

jim January 15, 2015 at 11:12 pm

And yet Congress still won’t take notice of the high volume that’s required every year and stop the waste of minting coins that cost more than their face value. It’s way past time to make a change like Canada and others have done in the past.

Munzen January 24, 2015 at 12:34 pm

Jim, my 2¢ is that Congress is so spineless, so beholden to nay-sayers, so much in the grip of lobbyists (can we say the zinc industry and Crane Paper?), and so concerned with posturing (HOW many votes to repeal the ACA?) that almost nothing sensible will make it into law.

And I’m not just referring to coin legislation, btw 🙁

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