https://www.coinnews.net/2012/07/17/us-coin-production-nears-1b-in-june-5b-in-first-half-of-2012/ CoinNews delivers the latest World and US coin news Wed, 18 Jul 2012 15:17:40 +0000 hourly 1 https://wordpress.org/?v=7.0 https://www.coinnews.net/2012/07/17/us-coin-production-nears-1b-in-june-5b-in-first-half-of-2012/#comment-54633 Wed, 18 Jul 2012 15:17:40 +0000 http://www.coinnews.net/?p=29640#comment-54633 Hi Jim,
It seems like a lot of coins doesn’t it? Here are a few thoughts. A percentage of our coins end up in our banks. The presidential & native dollars are now like the Morgan dollars were, stockpiled in the banks (and rarely used). They are now only produced for collectors.
As the US GDP grows and more stores and shopping centers are added we need more change for the cash registers. Some coins are damaged over time (railroad tracks lol) and are pulled from circulation. Some leave the country (i.e. the 5 U.S. pos. of Guam, Puerto Rico, etc) and some ends up foreign banks for currency trading. In addition at least 12 of the 14 coins listed in the article above are collected out of circulation in the US and a few like the Kennedy half are only produced by the Mint for collectors. And of course the piles of coins in glass/plastic bottles, piggy banks and ash trays by the night stand.

]]> https://www.coinnews.net/2012/07/17/us-coin-production-nears-1b-in-june-5b-in-first-half-of-2012/#comment-54630 Wed, 18 Jul 2012 14:17:29 +0000 http://www.coinnews.net/?p=29640#comment-54630 Maybe somebody answered this question before, but where do all these coins go? They’re supposed to last for years and years and yet the mint has to continually make more and more. Are there that many hoarders out there for just plain coins with no precious metal content?

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