The first circulation coin production figures of the year have been provided by the United States Mint. Production is off to a fast start with heavier production seen for cents and quarters compared to the year ago period.
For the month of January 2013, the Philadelphia and Denver Mint struck 1.22 billion circulating quality coins. This is up significantly from the 245.34 million coins struck in the prior month of December 2012. This also represents a sharp increase from the production of 802.5 million seen in the year ago period of January 2012.
The table below shows the break down of circulating coin production for each denomination at each mint facility.
|2013 US Mint Coin Production Figures|
|Lincoln Cent – Denver||298.80 M|
|Lincoln Cent – Phil.||376.00 M|
|Jefferson Nickel – Denver||68.40 M|
|Jefferson Nickel – Phil.||60.48 M|
|Roosevelt Dime – Denver||102.50 M|
|Roosevelt Dime – Phil.||122.00 M|
|Quarters – Denver||112.20 M|
|Quarters – Phil.||67.20 M|
|Kennedy Half – Denver||0|
|Kennedy Half – Phil.||0|
|Native Am Dollar – Denver||1.82 M|
|Native Am Dollar – Phil.||1.82 M|
|Pres Dollar – Denver||3.36 M|
|Pres Dollar – Phil.||9.10 M|
Across both facilities, production for the cent reached 674.8 million coins. This accounted for 55.15% of all circulating coin production for the month. Cent production is up by about 44.06% compared to the year ago period. For the full year of 2012, the US Mint had struck more than 6 billion cents.
Production of the nickel and dime each registered small increases compared to the year ago period. These denominations have seen steady increases in production over the past few years.
Quarter production started strong with 179.4 million struck across both facilities. This seems to represent the highest monthly production for the denomination in several years. For the entire year of 2012, quarter production had reached 568.01 million, with more than half of that amount coming for the fifth design release of the year.
As mentioned in previous posts, it seems that we are now clearly on the path towards higher quarter mintages. Following the conclusion of the State Quarter Program and the economic conditions of 2009, a huge backwash of previously quarters coins flowed back to Federal Reserve Banks, which mitigated the need for new production. This overhang of supply finally seems to have been worked off, setting the stage for increased production.
As I have also said in the past, this may create some greater desirability for some of the low mintage America the Beautiful Quarters from earlier in the series. The mintage low was reached with the Chaco Culture Quarters with 22 million struck at each the Philadelphia and Denver Mint facilities.