US Mint Coin Production January 2010
The first US Mint coin production figures of the year are available. Continuing the situation from last year, production was limited compared to the levels seen just a few years ago.
The US Mint produced a total of 218.41 million coins across the Philadelphia and Denver facilities. Production took place for just three denominations- cents, half dollars, and dollar coins.
The table below displays the breakdown of coins produced by the Mint during the month of January 2010.
| January 2010 | |
| Lincoln Cent - Denver | 50.00 M |
| Lincoln Cent - Phil. | 65.23 M |
| Jefferson Nickel - Denver | 0 |
| Jefferson Nickel - Phil. | 0 |
| Roosevelt Dime - Denver | 0 |
| Roosevelt Dime - Phil. | 0 |
| Quarters - Denver | 0 |
| Quarters - Phil. | 0 |
| Kennedy Half - Denver | 1.70 M |
| Kennedy Half - Phil. | 1.80 M |
| Native Am Dollar - Denver | 14.00 M |
| Native Am Dollar - Phil. | 11.20 M |
| Pres Dollar - Denver | 36.96 M |
| Pres Dollar - Phil. | 37.52 M |
| Total | 218.41 M |
During the month, there were 50 million cents produced at Denver and 65.23 million produced at Philadelphia for a total of 115.23 million. Last year, the US Mint had produced a total of 2.35 billion cents. It's still a bit early to draw comparisons, but if the current pace of production remains constant, the total number of pennies produced might be about 1 billion less than the prior year. However, this won't give the 2010 Lincoln Cent a lower mintage than last year's issues, since 2009 Lincoln Cent production was split across four different designs.
There were no nickels or dimes produced in January 2010. The last time the US Mint produced dimes was April 2009, and the last time they produced nickels was July 2009. Again, it is still very early, but is it possible that there will be no 2010 nickels or dimes struck for circulation? Even if production does take place, it will likely be a repeat of last year when low mintages and limited distribution create instant high premiums any coins that surface.
No quarters have been produced so far this year. The US Mint has not yet announced the final design selections for the 2010 America the Beautiful Quarters. This is expected to take place this month, with the release date for the first quarter expected in April.
The US Mint produced 1.7 million half dollars at the Philadelphia Mint and 1.8 million at the Denver Mint. For all of 2009, the total production was 1.9 million at each facility.
The US Mint produced a total of 25.2 million of the 2010 Native American Dollar across both facilities. Presidential Dollar production totaled 74.48 million across both facilities. The level of dollar coin production was surprising, as it suggests that the US Mint has not yet significantly curtailed production as they have done with other denominations.
For all of 2009, the Mint had produced a total of 423.64 million dollar coins, representing about 12% of total coin production. For January 2010, dollar coins represented a whopping 45.6% of total coin production. This heavy proportion of dollar coins will almost certainly shift within the next 11 months, but it represents another trend to watch in coming coin production figure reports.
Coin Update News: Latest US Mint Sales Report
Labels: Coin Mintages
posted by Mint News Blog @ 11:02 AM
13 Comments:
Maybe the Mint realizes that, with the coming inflation, no one will even use these low-denomination coins for payment anymore. The low-denom coins will be collectibles - and once again, bad money will take the place of these good monies.
Check out the Presidents FY 2011 Budget at the White House website (under the Office of Management and Budget). Read the PDF labeled "Terminations, Reduction and Savings."
On page 100, it has a discussion of debasing the metallic content. Quote: "The Budget enables the Department of the Treasury to explore, analyze, and approve new, less expensive materials for all circulating coins based on factors that will result in the highest quality of coin production at the most cost-effective price.").
It specifically cites the penny and nickel as problems, due to the price of zinc and copper.
Eliminate the penny and nickel and make all costs rounded to a dime. You could still charge any amount you want per "unit". Gas stations still use 1/10s of a cent but the bill always comes out in full cents.
Sounds objectionable, but I remember when you could withdraw $5or $10 or $20 from the ATMs and now they made only $20s available and we all lived.
We all survived after the 1/2 cent was eliminated, why not the cent and nickel? Maybe we'd have to change the expression from "nickel and dimed" to "dimed and quartered".
It will never happen. But, you're right about the price of gas. The only way to get use out of the 9/10 of a cent is to buy 10 gallons. If the price is 2.599 per gallon, 10 gallons is $25.99, but each individual gallon leading up to it always stops on $2.60. Bums.
The mining lobby wields an awful lot of power in our legislative process. They'll always fight for the cent because it's a ready market for their product.
It's really sad that it's getting harder to find any new rolled coins at the banks instead of easier, especially knowing they're piled up in some non-descript warehouse. I've probably been to over 100 banks and NONE of them even order rolled coinage. They have ample supply of rolled coins brought in by customers that outweigh any need to order an additional supply. It's come to insane people paying $15 for a roll of 2010 Lincoln cents!!
The 2010 union sheild lincoln cent will be released in Springfield, Il on Feb. 11, 2010. Will there also be a release at Union Station in Washington, DC on the same day?
Hmmmmmm. 115,000,000 pennys minted already.........and only 17 show up in Puerto Rico. How's that crack distribution system workin' lately.
BING 10% off today on Ebay!
To answer 4:54pm Feb 2 According to Numismatic News, 2/9 issue, the coin will also be released at the Union Station and US Senate's credit union in DC the same day.
Michael,
When will we ever get the final mintage report for the Van Buren's Liberty First Spouse gold coins?
Regarding final figures for the Van Buren's Liberty...
The Mint changed the way they report sales figures. Now, once a product sells out, they report "NLA" for no longer available. This means that the last few days of sales are missing from the last reported sales number.
Until they reported the final adjusted numbers, here are the last reported numbers...
http://news.coinupdate.com/platinum-eagle-proof-coin-near-sell-out-0071/
So much for the promised government transparency! What is the big secret??
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