US Mint Circulating Coin Production July 2011

During the month of July 2011, the United States Mint’s circulating coin production reached 821.98 million across all denominations. This amount is down from the previous month’s total of 903.06 million coins, but up from the year ago period when 772.08 million coins were produced.

For the year to date, coin production now approaches 5 billion coins. The annual total for 2009 was 3.55 billion, and the annual total for 2010 was 6.37 billion.

Shown below is the breakdown in production figures by denomination and mint facility. The first number column represents the production for the month of July 2011, while the second number shows the year to date total through July 31, 2011.

2011 US Mint Coin Production Figures
July 2011 YTD 2011
Lincoln Cent – Denver 210.00 M 1,462.94 M
Lincoln Cent – Phil. 265.20 M 1,416.40 M
Jefferson Nickel – Denver 51.36 M 328.32 M
Jefferson Nickel – Phil. 58.80 M 270.00 M
Roosevelt Dime – Denver 81.00 M 474.00 M
Roosevelt Dime – Phil. 80.50 M 506.00 M
Quarters – Denver 25.20 M 117.40 M
Quarters – Phil. 25.00 M 116.60 M
Kennedy Half – Denver 0 1.70 M
Kennedy Half – Phil. 0 1.75 M
Native Am Dollar – Denver 0 18.06 M
Native Am Dollar – Phil. 0 9.66 M
Pres Dollar – Denver 14.28 M 111.86 M
Pres Dollar – Phil. 10.64 M 111.30 M
Total 821.98 M 4,945.99 M

As typical, the one cent coin accounted for the majority of production. Across both facilities there were 475.2 million cents struck, representing 57.8% of all coins. The next most prominent denominations were the dime and nickel.

Production of quarters dollars was 25 million at the Philadelphia Mint and 25.2 million at the Denver Mint. This seems to represent the beginning of production for the Vicksburg National Military Park Quarter, scheduled for release into circulation on August 29, 2011. The Mint has not posted a preliminary total for the design, so production may be continuing in the current month.

Presidential Dollar production was 10.64 million at the Philadelphia Mint and 14.28 million at the Denver Mint. This was likely for the issue featuring Rutherford B. Hayes, scheduled to be released on August 18, 2011. A final mintage for the Hayes Dollar has not yet been posted by the US Mint. However, backing out the known total production for the first two designs of the year leaves 74.48 million coins. This amount would seem about right as the mintage for the Hayes Dollar.

Once again, the US Mint has not struck any Native American Dollars. The current legislation provides that at least 20% of all dollar coins struck during the year must be Native American Dollars. The percentage is currently at 11.05%. As mentioned last month, the Mint may be holding off on further production in anticipation of some legislative action.

There have now been six separate bills introduced in Congress that seek to modify $1 coin production or the specifics of the Presidential $1 Coin Program or the Native American $1 Coin Program. I have previously written about the first two bills and the third bill. Stay tuned for my comments on the latest three. For now, you can read the text of each bill H.R. 2760, H.R. 2789, H.R. 2778.

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Comments

  1. CaptainOverkill says

    Michael, can you explain possibly in the comments or in a separate post the rationale behind the numbers of the circulating coins we are minting? It strikes me as bizarre that there is a firestorm of criticism over the $1 coin program and yet 57.8% of the coins minted this year are pennies, a coin viewed by most of the population as being worthless. How much space are all these pennies taking up in Federal Reserve banks compared to $1 coins? There are tens of billions of pennies in circulation.

    Meanwhile, there are so few AtB quarters that they are almost impossible to find. It’s frustrating for me as a collector to have to either open up my Mint rolls or search through dozens of bank rolls to find ONE AtB quarter.

    Also, supposing the one dollar coin program is cancelled outright, do you know if that will force the Mint to immediately withdraw all of its dollar coin products for sale? I’m a little fuzzy on what would happen if, say, the Hayes coins were minted and ready to go, but then the program was cancelled before they could “hit the shelves.”

  2. Ryan says

    What are the chances that the 2011 native american coins will be worth something in the future if they 1. Don’t mint anymore 2. Eventually make tobacco illegal? You would then have a coin produced under a failed program with a picture of something that is suppose to represent peace but could eventually be the equivolant to having opium on a chinese american coin!

  3. CaptainOverkill says

    I generally look at the value of clad in relation to the question “how hard is it to find coin X to fill this hole in my coin album?” Right now, there is a craze on for gold and silver products, for obvious reasons. Clad coins are being ignored. This seems unwise in my opinion – most nickels are not silver, and neither are pennies. I’ve got no point of reference, but I suspect premiums on non-key date indian head cents and buffalo nickels are at rock bottom.

    For more modern coins, in my opinion, most coins 2009 and later (excepting pennies) are going to be relatively hard to find in comparison with previous issues. Many of the clad quarters being released, for example, seem to be going right to Mint rolls and not to banks. This may make it hard in later years to find AtBs to fill the holes in coin albums, and thus it may be possible to get decent premiums off the quarters in the Mint rolls you bought 10-20 years ago.

    So far, in my experience, the toughest recent clad coin to find seems to be business strikes of the 2009 nickel and the 2009 dime. I have yet to locate any 2009 nickel in a bank roll and have located only one or two 2009-P dimes in bank rolls (no Ds, which is unsurprising as I live on the East Coast).

  4. CaptainOverkill says

    Julie,

    This is false. They made all the circulating coins for 2009 and onward, but they drastically reduced the numbers being minted. You can find 2009-2011 pennies fairly easily. 2009 nickels and dimes, I find, are tough to locate, but they are out there. You can find 2010-2011 nickels and dimes a little more easily. I got lucky and got about 6 rolls of pure 2010-P nickels from my bank that had been shipped straight from the Federal Reserve.

    2009 and up quarters are hard to find in circulation, but you can at least buy them from sites selling common circulating coins, and AtB quarters are still mostly available from Mint rolls. Presidential dollars and native American dollars are fairly easy to find via bank rolls for the most part as well as uncirculated rolls from the Mint’s website. Half dollars are really only found with extensive searching or from the yearly uncirculated rolls on the Mint’s site.

    It is absolutely untrue that the Mint has recently suspended production of any circulating coins. The only one being presently discussed is the $1 coin.

  5. Tony H says

    US Mint suspended the sale of gold Commemorative for repricing. They finally realized what everyone here already figured out 3 days ago.

  6. Hidalgo Cohen says

    Michael,

    Do you know the status of the Congressional bills to do away with the Presidential dollars?

  7. Clair Hardesty says

    I wish the folks at the mint would start lobbying Congress hard to suspend dollar bill production instead of attacking the dollar coin. That is the reason that there are surplus dollar coins, because Congress never had the fortitude to stop printing dollar notes. Pretty much all of the arguments against the coin fall by the wayside once the note disappears. We should probably have a five dollar coin and not five dollar bill as well. That would put us on par with most other developed nations. The mint has never really embraced the NA dollar. in 2009, the first year that the 20% law was in effect, the mint grossly violated it. This was the same year that they claimed that a law prohibited them from minting numismatic SAEs. They ignored one clear law and obeyed one that never existed. Now they don’t even have the guts to defend their own attempts to get the dollar coin into circulation.

  8. Sean says

    The dollar bill really should go. I have been trying the circulate the dollar coins and it really isn’t that bad. Although Europe and Britain have the 2 Euro and 2 Pound coin, I’m not sure if I really want to see the two dollar bill go. If they made a two dollar coin, it would be nice to keep the two dollar bill for collectors. I think it is a beautiful bill. I think it will be hard to get congress to see the argument in the coin direction. There are too many that probably take lobby money from that paper company that provides the paper for the bill. Seeing the dollar coin circulate large scale would be nice. If the design doesn’t please you, the Presidential dollar series doesn’t have that much time left. A more suitable design may be created later.

  9. Rick Smith says

    Gee, It looks like you bloggers got your wish for price increase for the gold commemoratives. Some like me were still saving for the those items. I wonder if they price them exactly as the bloggers suggest. Maybe this site needs to have a secret code so the mint cannot read the comments!

  10. Fedflation says

    I regularly check for half dollars at the various banks in the area were I live in hopes of finding silver and I’ve had fairly good luck over the past few years. Because of the nature of my job I travel around to different areas of town throughout the week so I just stop at the different banks that are in my line of travel so I’m not really waisting any gas money or too much travel time in doing this. I’ve also started using the commercial drive-throughs at the banks so I don’t even have to get out of my car which makes it even more convenient.

    Anyway like I said I’ve had fairly good luck over the past few years. Like just yesterday at one bank I got 8 halves ($4 face) and 1 was 40% silver. Last week I got 3 silver halves. At one of these banks I got about 6 or 7 halves and 1 was 40% silver and 1 was a 1964 90% silver Kennedy. I actually find more silver halves than I find post 2001 half dollars. I’ve been keeping these post 2001 halves I find because they are so scarce (though I know they really are only worth face value in circulated cond.) and I probably only have about 15 or 20 (at the most) that I have found over the past few years. While during that same time I’m sure I’ve found well over 100 silver halves including some 1964 Kennedy’s like I mentioned above and even some Franklin’s from time to time. And now the coins I found just two years ago are worth more than twice what they were then. This is how I like to buy (some of it anyway) my silver – at face value.

    And lately I’ve also been buying nickel rolls and I’ve had fairly good luck with these as well. I had incredible luck at one bank (my favorite coin bank) 2 weeks ago. I think I bought $40 (20 rolls) in nickels and about every other roll had a buffalo nickel. I found about 7 or 8 common dates from the 30’s, a 1929, 1924 and even a 1918. The 3 earlier dates are partial dates and not surprisingly have more wear but the coins from the 30’s all have very clear dates (some w/ mint marks) and all with full liberty. I think I also found at least 2 silver war nickels and many pre-1960 coins as well. I believe I actually found 2 nice looking buffaloes and 1 silver coin IN ONE ROLL! I’ve gone back to this same bank once since then but my luck wasn’t as good – although I did get one more nice looking clear date 1936 or 1937. I’m going back to this same bank in the morning on my way to work to try my luck again.

    Also, since I’ve been searching for nickels (off and on) for the past couple of years (at least a few hundred rolls) I’ve noticed that I actually find more silver nickels and about as many or more buffaloes than I find 2009 nickels. I probably have found no more than 10 or 15 2009 nickels in all the rolls I’ve searched in the past two years. These coins really are hard to find in circulation. And it’s strange too about the silver nickels. Sometimes I’ll have a roll of all modern day nickels but there will be one 1943 P coin mixed in. Maybe one reason I’m still able to find these silver war nickels is because – like the 40% silver halves – they minted so damn many of them – actually hundreds of millions. There were 271,165,000 coins minted just for the 1943 P nickel alone!

  11. CaptainOverkill says

    Rick, you’ve gotten it backward – Michael generally knows the Mint well enough to predict their behavior. Of COURSE they’re going to notice that they have a gold product that’s selling way under value – it’s their jobs to know, especially when their website gets flooded with orders for said product.

    If anything, it’s a miracle it kept selling for this long.

  12. Fedflation says

    I know 271,165,000 mintage of the 1943P nickel isn’t a high mintage for a modern nickel but I believe it is the third highest minted pre-’64 nickel. And for my own sake anyway I wish they would have minted even more.

  13. Brian says

    Write your congressional reps about keeping the Presidential Coin Program. The cost is far less than printing $1 bills. In addition the historical and teaching benefits are worth the cost.

  14. Silver Sam says

    I say….round off all prices, and discontinue minting the penny…this will give our government more to spend!!!!!!!

  15. Jim L. says

    Generally speaking I’m seeing about a 2 year lag time between mintage of circulating coins and actually seeing them in hand. I bought many rolls of 2009D Roos. dimes in 2009 because of the attractively low mintage and only Puerto Rico seemed to have any then (remember?). They now sell for about half of that or less and I’ve gotten some in change. I feel like a real fool for having bought them. Maybe better to wait a couple years, live and learn,

  16. Hidalgo Cohen says

    Fedflation – what part of the country do you live in? I have not had so much luck in finding silver halves or Buffalo nickels in rolls.

  17. Hidalgo Cohen says

    Comment about the 2011 commemorative gold coins.

    I read on Coin News.net that there will be a pricing grid for the commemorative coins. So could that mean that prices could fall below the original advertised price established by law?

  18. Brian says

    I suppose prices could fall below the original advertised price. About a month before they were first issued, gold was fairly stable at about $1390. So I would guess gold spot would need to fall below that tier.

  19. says

    The MOH unc $5 gold coin that I ordered on 8/8 (Monday) shipped today. I realize none of us know where gold will be by years end, but I think it will be higher than it is now. I think the coins will probably be around $75 higher when they come back on sale. Regarding the original prices:
    Michael, in his post dated 7/13/11 said this:
    “The prices were established by publication in the Federal Register dated December 29, 2010. At that time the market price of gold was $1,412 per ounce”

  20. Brian says

    The key question is how many more MOH uncs will be available when the Mint puts them back up for sale. We know they were backordered, but will the Mint be stamping out more, or are they done?

  21. says

    Brian, I think there will be plenty available as the authorized mintage is 100,000. I think the key will be how many people will be willing to buy these at a higher price. I think that most people that wanted one of these would of already purchased one.
    When these go back on sale, I would expect sales to be very low.

  22. Francisco J.Z. says

    If I am not mistaken the “100,000” mintage is across all product options , which includes the silver coins.

  23. concerned collector says

    @Francisco Unfortunately, you are mistaken. The 100,000 mintage refers only to Unc and proof gold commemoratives, and that is for each specific design. For the silver coins, it’s 500,000 across all options.

  24. Hidalgo Cohen says

    I have one of each of the five 2010 P America the Beautiful 5 ounce silver coins. And it dawned on me… I have more than one pound (16 oz) of silver. And I have several 1 ounce silver coins and other official silver coins. And it dawned on me…. do I really need so much silver? Maybe I need to sell some of my holdings. Now seems to be a good time, as silver seems to have stabilized in its current price range…..

  25. Fedflation says

    Hidalgo Cohen,

    I wouldn’t advise selling any of your silver right now unless you really have to. I actually think silver is a better buying opportunity right now than a selling one. There will probably be more volatility in the short time like we have seen this year but I have no doubt silver is going much higher in the long term. And as for the short I’m not smart enough (or foolish enough) to try and predict other than to say any sell-offs (like we have seen from $50oz) are probably a good time to buy.

    But you shouldn’t take my word for it. Someone who is worth listening to is Jim Rogers who has been saying for a long time and even now to buy silver. If you aren’t familiar with Jim Rogers he is one of the most successful commodities investors in history. During the 1970’s his now infamous Quantum Fund had a return of over 4000% (mostly in commodities) while most people at that time were losing money. Here’s a recent CNBC video from about a month ago where he says “Silver’s going to go much, much higher over the next decade,”:

    video.cnbc.com/gallery/?video=2050231218

  26. MiserTips.com says

    To Hidalgo Cohen,
    Here’s my two cents and I’ve offered it here before as well as to my close friends. Sell silver when the gold / silver ratio is much closer together, then buy gold with your new profits.

    Right now silver is either under valued or gold is over valued, I’ll let you decide which is which.

    For me, I bought most of my silver at a ratio of about 70 to 1. Today it’s about 45 to 1. In May 2011 it was 30 to 1. Some (like me) feel that the ratio should be around 16 to 1 using historical data (some even think 5 to1 will happen).

    Only sell silver if you have too but watch the ratio. I don’t care if I pay $10,000 oz for gold if only takes 16 oz of silver that I paid $10 each for, this would really make my gold $160 an oz.

  27. billy says

    The hedge funds are in firm control of the gold and silver markets now, so I would be very careful about investing! Just look at the charts for gold and silver the last year… up until then the hedge funds weren’t much into gold or silver, but the last year they have blown the prices way up.

    The fact of the matter is, these hedge funds are not gold bugs, they do not believe the world is ending like many of you – gold and silver are just another trade for them… and as soon as 1 big hedge fund cashed out, the price sinks, all the other hedge funds will want to stampede out as well… and the prices will collapses. If you dont believe me, look at what happened to silver recently!

  28. John says

    Some people like investing in paper or the binary code. Some like hard tangible assets… coins, art, land… I choose the last three.

  29. SunTzu says

    billy says:
    August 13, 2011 at 2:28 pm
    … and as soon as 1 big hedge fund cashed out, the price sinks, all the other hedge funds will want to stampede out as well…

    Hedge funds are barely making a dent in the purchase of gold in the past year in relation to the amount purchased by central banks. These banks are moving from dollars into gold. South Korea bought 25 TONS in June and July. There has been a massive increase by central banks all over the world in their gold holdings which give long term credibility to the metal. This is unprecedented. I think there will be a couple corrections down given the moves by COMEX increasing the margins, but the long term picture is bright.

  30. MiserTips.com says

    Just a little follow up to my earlier post on the gold / silver ratio. If you have gold and the ratio heads back towards 70 or 80 to 1 you can sell some gold to pick up more silver. Ultimately the ratio will get back to 16 to 1 or lower (just something to think about).

    And for those who think gold is a bubble and it will end up back at $200 – $300 oz as a said in the first post as long as the ratio is 16 to 1… I’m still ahead of the game.

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