Production of American coins for circulation slowed in October to an eight-month low, according to the latest round of United States Mint figures. Still, nearly 1.3 billion in pennies, nickels, dimes and quarters were pressed for the month.
In headline comparisons, the level marks declines of 17.6% from September and 26.2% from October of last year. Here’s how the month stacks up against others in the past year:
October 2015 to October 2016 Coin Production Figures
| Month | Mintages | Rank |
| October 2016 | 1,297.36 M | 10 |
| September 2016 | 1,573.70 M | 4 |
| August 2016 | 1,302.95 M | 9 |
| July 2016 | 1,807.20 M | 1 |
| June 2016 | 1,582.06 M | 3 |
| May 2016 | 1,550.12 M | 5 |
| April 2016 | 1,339.06 M | 8 |
| March 2016 | 1,446.14 M | 7 |
| February 2016 | 930.26 M | 12 |
| January 2016 | 1,515.84 M | 6 |
| December 2015 | 707.79 M | 13 |
| November 2015 | 1,245.73 M | 11 |
| October 2015 | 1,757.64 M | 2 |
The Federal Reserve always orders more Lincoln cents from the U.S. Mint than any other denomination even though it costs about 1.4 cents to make and distribute each one. The Mint struck a combined 816.4 million cents in October, representing 62.9% of the circulating-quality coins produced for the month.
In the latest month-over month comparisons for coins used daily by Americans, production totals declined:
- 8.4% Lincoln cents,
- 13.8% Jefferson nickels,
- 40.8% Roosevelt dimes, and
- 23.7% America the Beautiful Quarters.
Presidential $1 Coins, Native American $1 Coins and Kennedy half-dollars are no longer ordered by Federal Reserve Banks for distribution but the U.S. Mint continues to make them in circulating quality for coin collectors.
In January, the U.S. Mint produced Native American $1 Coins to the expected amounts needed for all of 2016. That is usually how it works for Kennedy half-dollars but in February another 400,000 were pressed at the Philadelphia Mint and then in March another 400,000 were made at the Denver Mint. In October, the Philadelphia Mint reported that Reagan dollars increased by 420,000.
Here’s a summary of all circulating-quality coins produced last month:
US Mint Circulating Coin Production in October 2016
| Denomination | Denver | Philadelphia | Total |
| Lincoln Cents | 390,000,000 | 426,400,000 | 816,400,000 |
| Jefferson Nickels | 70,080,000 | 63,360,000 | 133,440,000 |
| Roosevelt Dimes | 90,000,000 | 101,500,000 | 191,500,000 |
| 2016 ATB Quarters | 76,800,000 | 78,800,000 | 155,600,000 |
| Kennedy Half Dollars | 0 | 0 | 0 |
| Native American $1s | 0 | 0 | 0 |
| Presidential Dollars | 420,000 | 0 | 420,000 |
| Total | 627,300,000 | 670,060,000 | 1,297,360,000 |
Facilities in Denver and Philadelphia manufacture all U.S. coins for commerce. In October, the two plants made 627.3 million and 670.06 million coins, respectively.
Year to date, the Denver Mint pressed 6,956,440,000 coins and the Philadelphia Mint struck 7,388,250,000 coins for a combined 14,344,690,000. That is 5% fewer than the 15,093,180,000 coins minted by this time last year.
This next table lists 2016 coin production totals by denomination and by U.S. Mint facility:
YTD 2016 Circulating Coin Production by Denomination
| 1 ¢ | 5 ¢ | 10 ¢ | 25 ¢ | 50 ¢ | N.A. $1 | Pres $1 | Total: | |
|---|---|---|---|---|---|---|---|---|
| Denver | 3937.2M | 674.88M | 12805M | 1044.4M | 2.1M | 2.1M | 15.26M | 6956.44M |
| Philadelphia | 4230.8M | 695.76M | 1373.5M | 1065.23M | 2.1M | 2.8M | 18.06M | 7388.25M |
| Total | 8168.0M | 1370.64M | 2654.0M | 2109.63M | 4.2M | 4.9M | 33.32M | 14344.69M |
This year’s monthly average of about 1.43 billion coins tracks over 12 months to over 17.2 billion coins. As a resent comparison, the U.S. Mint in 2015 made just over 17 billion coins for a sixth straight year of growth and the fastest production pace since the 2001.
Coins by Design
Beginning in the report for September, the U.S. Mint publishing early/partial production figures for quarters by design. In the past, the agency reported totals for quarters only after they had finished making them. Keep that in mind when looking below at the updated figures for the Theodore Roosevelt and Fort Moultrie quarters.
2016 Circulating Coin Production by Design
| Denver | Philadelphia | Total | |
| Lincoln Cents | 3,937,200,000 | 4,230,800,000 | 8,168,000,000 |
| Jefferson Nickels | 674,880,000 | 695,760,000 | 1,370,640,000 |
| Roosevelt Dimes | 1,280,500,000 | 1,373,500,000 | 2,654,000,000 |
| Shawnee National Forest Quarter | 151,800,000 | 155,600,000 | 307,400,000 |
| Cumberland Gap National Historical Park Quarter | 223,200,000 | 215,400,000 | 438,600,000 |
| Harpers Ferry National Historical Park Quarter | 424,000,000 | 434,630,000 | 858,630,000 |
| Theodore Roosevelt National Park Quarter | 223,200,000 | 231,600,000 | 454,800,000 |
| Fort Moultrie Quarter | 22,200,000 | 28,000,000 | 50,200,000 |
| Kennedy Half Dollars | 2,100,000 | 2,100,000 | 4,200,000 |
| Native American $1 | 2,100,000 | 2,800,000 | 4,900,000 |
| Richard M. Nixon $1 | 4,340,000 | 5,460,000 | 9,800,000 |
| Gerald R. Ford $1 | 5,040,000 | 5,460,000 | 10,500,000 |
| Ronald Reagan $1 | 5,880,000 | 7,140,000 | 13,020,000 |
| Total | 6,956,440,000 | 7,388,250,000 | 14,344,690,000 |
Coin production figures in this coin news article are based on data aggregated from the Mint’s webpage at: http://www.usmint.gov/about_the_mint/?action=ProductionFigures.
When will the US catch up with Canada & stop making the 1 cent coin?
The question should be, when will the US catch up with Canada and stop making pennies; stop making halves; stop making $1 banknotes and return the $1 coin to circulation status; stop making $2 banknotes and replace them with a $2 coin like Canada. Dare I say stop production of $5 banknotes also and replace them with a $5 coin. In addition, the $50 and $100 banknotes should be discontinued as well since plastic credit/debit cards are now used for most transactions nowadays.
Stu – I agree completely about getting rid of the $1 and $2 bill in favor of coins! It’s ridiculous that we Americans are so perversely resistant to a $2 denomination (in ANY form) when it works well in nearly every other major country on the planet. And it’s offensive that Congress has bent to Crane Paper’s lobbying to preserve their profits by mandating continued production of oceans of wasteful $1 bills. That said, the half dollar may not be dead in Canada. There’s been recent talk of eliminating the 5¢ piece as well and revising denominations along the lines… Read more »
Maybe Trump can get rid of the penny, and The $1.00 bill !
Stuart, I disagree that the $50 and $100 banknotes should be discontinued. I prefer to do my day-to-day financial transactions in cash, and do not want Big Brother tracking what I spend my money on – ad can be done with plastic credit/debit cards. Speaking of pennies, I pick through rolls of pennies from the bank, and save the pre-1982 cents for when I can sell them for their copper value once production is discontinued. The other day I was pleasantly surprised to find a wheatback penny – a 1956-D – in a roll. Still a few of them out… Read more »
A follow-up comment:
I just found another wheat back penny – a 1937 in fine condition – in a roll.