U.S. Mint Produces 906 Million Coins for Circulation in November

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U.S. coin production slowed to 906 million in November
U.S. coin production slowed to 906 million in November

United States Mint coining presses slowed in November, striking the fewest number of coins for circulation since December 2020, and marking just the second month this year in which production fell under the one billion level.

In the headline figure for the month, the U.S. Mint manufactured 906 million coins — spread across cents, nickels, dimes, and quarters, posting declines of 23% from October and 18% from November 2021.

Here’s how the month compares against others in the past year:

November 2021 to November 2022 Circulating Coin Production

Month Mintages Rank
November 2022 906.00 M 13
October 2022 1,177.14 M 6
September 2022 1,003.72 M 10
August 2022 948.06 M 12
July 2022 1,100.62 M 9
June 2022 1,141.60 M 7
May 2022 1,255.32 M 4
April 2022 1,278.88 M 2
March 2022 1,452.58 M 1
February 2022 1,260.12 M 3
January 2022 1,249.84 M 5
December 2021 953.37 M 11
November 2021 1,104.7 M 8

 

The U.S. Mint’s main mission is to manufacture coins based on the nation’s demand and then transport them to Federal Reserve Banks and their coin terminals for distribution into circulation.

The Federal Reserve orders more 1-cent coins from the U.S. Mint than any other denomination even as data shows that it costs 2.1 cents to make and distribute each one. The Mint struck 322.8 million Lincoln cents in November, representing 35.6% of the circulating-quality coins produced last month. Historically, the percentage has been around the low to mid 50s. That has not been the case for several months this year. Including November’s new low, October was at 38.9%, September was at 42.4%, August was at 47%, July was at 39.4% and June was at 40.2%.

Month-Over-Month

In month-over month comparisons for coins used daily by Americans, production totals in November declined:

  • 29.5% for Lincoln cents,
  • 30.4% for Jefferson nickels,
  • 14.3% for Roosevelt dimes, and
  • 17.3% for quarters.

Native American $1 coins are no longer ordered by the Federal Reserve, but they are still made in circulating quality for coin collectors. The same is true, or was until last year, for Kennedy half-dollars.

Traditionally in January, the U.S. Mint produces both denominations to the expected amounts needed for the entire year. That remained the case for Native American dollars but not for Kennedy halves, which saw their mintages increase in several months this year (January, May and June) and last year (February, March, April, May and August).

Published mintages of 2022 Native American dollars show equal splits of 980,000 from Denver and 980,000 from Philadelphia for a combined 1.96 million coins. In contrast, the 2021 dollar logged splits of 1.26 million for Denver and 1.26 million for Philadelphia for 2.52 million coins.

In May, mintages for the 2022 Kennedy half-dollar increased for the second time this year, posting a combined increase of 3.6 million to more than double the 3.2 million made in January. They climbed again in June by 2.9 million. Unchanged since, half dollar mintages stand at 4.9 million from Denver and 4.8 million from Philadelphia for a total of 9.7 million. Last year’s half-dollar ended with a mix of 7.7 million from Denver and 5.4 million from Philadelphia for a combined 13.1 million.

The U.S. Mint started selling rolls, bags and boxes of 2022 Native American dollars on Feb. 9. It released rolls and bags of 2022 Kennedy halves on May 5.

Here’s a summary of all the circulating-quality coins produced last month:

U.S. Mint Circulating Coin Production in November 2022

Denver Philadelphia Total
Lincoln Cent 160,800,000 162,000,000 322,800,000
Jefferson Nickel 55,680,000 54,720,000 110,400,000
Roosevelt Dime 134,000,000 133,000,000 267,000,000
Quarters 103,200,000 102,600,000 205,800,000
Kennedy Half-Dollar 0 0 0
Native American $1 Coin 0 0 0
Total 453,680,000 452,320,000 906,000,000

 

Minting facilities in Philadelphia and Denver are tasked with making all U.S. coins for commerce. Last month, the Denver Mint struck 453.68 million coins and the Philadelphia Mint pressed 452.32 million coins for the combined 906 million coins.

YTD Totals

Year to date, the Denver Mint made 6,438,820,000 coins and the Philadelphia Mint made 6,335,060,000 coins for a total of 12,773,880,000 coins, which is 5.7% fewer than the 13,540,100,000 coins minted through the same period in 2021. The monthly total was the lowest since December 2020 when mintages combined to 903.5 million coins.

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

YTD 2022 Circulating Coin Production by Denomination

1 ¢ 5 ¢ 10 ¢ 25 ¢ 50 ¢ N.A. $1 Total:
Denver 3048.4M 732.24M 1459.5M 1192.8M 4.9M .98M 6438.82M
Philadelphia 3015.2M 714.48M 1412M 1187.6M 4.8M .98M 6335.06M
Total 6063.6M 1446.72M 2871.5M 2380.4M 9.7M 1.96M 12773.88M

 

If the current production pace stretched through to December, the annual mintage for 2022 would reach just over 13.9 billion coins. The U.S. Mint manufactured nearly 14.5 billion coins for circulation in 2021.

2022 Quarter Mintages

In addition to the 2022 Native American dollar with its one-year-only design, the U.S. Mint released the first five issues from their four-year program of American Women quarter dollars. Each features a unique design. They include:

This last table offers a breakdown of this year’s mintages that have been reported by coin design:

2022 Circulating Coin Production by Design

Denver Philadelphia Total
Lincoln Cent 3,048,400,000 3,015,200,000 6,063,600,000
Jefferson Nickel 732,240,000 714,480,000 1,446,720,000
Roosevelt Dime 1,459,500,000 1,412,000,000 2,871,500,000
Maya Angelou Quarter 258,200,000 237,600,000 495,800,000
Dr. Sally Ride Quarter 278,000,000 275,200,000 553,200,000
Wilma Mankiller Quarter 296,800,000 310,000,000 606,800,000
Nina Otero-Warren Quarter 219,200,000 225,000,000 444,200,000
Anna May Wong Quarter 0 0 0
Kennedy Half-Dollar 4,900,000 4,800,000 9,700,000
Native American $1 Coin 980,000 980,000 1,960,000
Total 6,298,220,000 6,195,260,000 12,493,480,000

 

From the overall production total, there are 280.4 million in quarters that the U.S. Mint has yet to officially assign to a design. These are Anna May Wong quarters with more yet be made.

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Antonio

2022 looks to be a bumper year for coin production. Never mind that things like this cause inflation. Mostly the only 2022 coins I’ve come across are the American Women quarters.

Jeff Legan

I have seen many 2022 dated pennies, nickels, and dimes so far. Very few 2022 dated quarters.

Kaiser Wilhelm

I’ve come across all of the above, guys, and I don’t even get that much change.

Kaiser Wilhelm

As there are two sides to every coin, there can be two reactions to the same Mint production numbers. Perhaps a slowdown in the production of coinage in general isn’t such a bad development at a time when coinage change doesn’t have the usefulness it did in earlier times before various forms of card and electronic payments became so widespread. Additionally, the shrinkage of cent production numbers is by itself a move in the right direction considering the combination of the added expense of making cents and their customary one way trip to the piggy banks of America.

Antonio

I envisage one day, coin and paper currency will be a thing of the past in first world countries. Then what will be the value of these items to future generations? Same with postage stamps.

Kaiser Wilhelm

It’s possible someone will declare the existence of numismatic archeology.

Kaiser Wilhelm

And by that I don’t mean the already existing hobby of metal detecting.

Antonio

Just a few more days. I’m looking forward to the 2023s at this point.

Kaiser Wilhelm

To add emphasis to your wish 2022 is going to end with a bang, a “bomb cyclone” to be more precise, putting over one third of the U.S. population in freezing harm’s way.

c_q

OK here’s my semi-radical idea – the mint can just stop making cents entirely, and instead pump out enough quarters to extinguish all the coin shortages. sure, there won’t be enough cents to make exact change, but people will be much happier to be missing only a few cents than the better part of a dollar as it is now without quarters. as a bonus, the mint will actually make money doing this – because the seignorage on a quarter is about 17 cents versus -1.5 cents for each cent produced. yeah, the zinc miners will be unhappy (since zinc… Read more »

Last edited 1 month ago by c_q
Kaiser Wilhelm

A banner idea!

Kaiser Wilhelm

Not to mention, HAPPY NEW YEAR!