The first circulating coin production figures of the year are now available from the United States Mint. The monthly production for January 2014 exceeded the levels of the both prior month and year ago period, and in fact marked the highest monthly total since Mint News Blog began tracking the figures in 2009.
During January 2014, the US Mint facilities at Philadelphia and Denver struck nearly 1.45 billion circulating quality coins. This was up significantly from the prior month of December 2013 when production was 245.34 million coins. It was up by 18.4% compared to the year ago period of January 2013 when production had reached 1.22 billion pieces.
The table below shows the break down of circulating coin production for each denomination at each mint facility.
|2014 US Mint Coin Production Figures|
|Lincoln Cent – Denver||438.80 M|
|Lincoln Cent – Phil.||404.80 M|
|Jefferson Nickel – Denver||66.96 M|
|Jefferson Nickel – Phil.||50.88 M|
|Roosevelt Dime – Denver||130.50 M|
|Roosevelt Dime – Phil.||113.50 M|
|Quarters – Denver||137.40 M|
|Quarters – Phil.||79.40 M|
|Kennedy Half – Denver||2.10 M|
|Kennedy Half – Phil.||2.50 M|
|Native Am Dollar – Denver||5.60 M|
|Native Am Dollar – Phil.||3.08 M|
|Pres Dollar – Denver||6.30 M|
|Pres Dollar – Phil.||7.56 M|
Across both facilities, production of the cent reached 843.6 million pieces, accounting for 58.2% of all circulating coin production. Cent production is up by 25% compared to the year ago period. For the full year of 2013, the US Mint had struck more than 7 billion cents.
Overall production for the nickel was 117.84 million pieces. This was actually down slightly compared to the year ago period. The nickel is currently the most costly denomination to produce relative to its face value. The US Mint has reportedly been testing a copper plated zinc alloy for the nickel to reduce metal costs. The findings of the testing and any recommendations should be included in a biennial report due in December.
Production for both the dime and quarter rose compared to the year ago period. During the past year, the quarter has seen the strongest growth in production for any denomination produced by the United States Mint. The seigniorage generated from the denomination has helped to offset the losses from the cent and nickel and replace the previous contribution from the $1 coin.
During the month, production of the Kennedy Half Dollar was 2.1 million pieces at Denver and 2.5 million pieces at Philadelphia. The US Mint will begin sales of bags and rolls containing the circulating quality coins later this week.
Production of Native American Dollars was unexpectedly strong at 5.6 million pieces at Denver and 3.08 million pieces at Philadelphia. This already exceeds the total production of the prior year, which was 1.82 million pieces at each facility.
Presidential Dollar production was 6.30 million pieces at Denver and 7.56 million pieces at Philadelphia. Following a Treasury Department decision announced in late 2011, the $1 coins are no longer produced for distribution to circulation, but only struck in the quantities necessary to fulfill demand from collectors. Last week, the US Mint began accepting orders for bags and rolls of circulating quality Warren G. Harding Presidential Dollars.