The United States Mint’s circulating coin production figures are available through the month of May 2014. The preliminary production total for the 2014 Franklin D. Roosevelt Presidential Dollar has also been provided.
During May 2014, the US Mint facilities at Philadelphia and Denver struck 1.33 billion circulating quality coins. This was up from the prior month when production had reached just over 1 billion pieces and also up from the year ago period of May 2013 when production had reached 1.08 billion pieces.
Total production for the year has reached 5.75 billion pieces, up by 8.7% compared to the year ago period.
The table below includes a breakdown of circulating coin production figures by denomination and mint facility for May 2014, along with total production levels for the year to date.
|2014 US Mint Coin Production Figures|
|May 14||YTD 2014|
|Lincoln Cent – Denver||364.40 M||1,690.40 M|
|Lincoln Cent – Phil.||434.80 M||1,702.40 M|
|Jefferson Nickel – Denver||54.48 M||248.40 M|
|Jefferson Nickel – Phil.||60.48 M||262.56 M|
|Roosevelt Dime – Denver||127.00 M||497.00 M|
|Roosevelt Dime – Phil.||128.00 M||508.00 M|
|Quarters – Denver||74.40 M||442.60 M|
|Quarters – Phil.||82.40 M||348.80 M|
|Kennedy Half – Denver||0||2.10 M|
|Kennedy Half – Phil.||0||2.50 M|
|Native Am Dollar – Denver||0||5.60 M|
|Native Am Dollar – Phil.||0||3.08 M|
|Pres Dollar – Denver||0.84 M||15.26 M|
|Pres Dollar – Phil.||0||19.88 M|
|Total||1,326.80 M||5,748.58 M|
During the month there were 799.2 billion cents struck, accounting for more than 60% of overall production. There have now been nearly 3.4 billion cents produced for the year to date.
The monthly production levels for the nickel, dime, and quarter were each a bit higher than the recent typical monthly ranges. Year over year comparisons show the total production of nickels and dimes roughly flat with the prior year, and the production of quarters showing a gain.
A minor amount of Presidential Dollars rounded out production for the month.
United States Mint Deputy Director Richard Peterson recently delivered testimony to the House Financial Services Committee with regards to circulating coinage. He stressed the fact that an overall basis, the US Mint’s portfolio of coinage denominations delivered positive seigniorage and the continuing importance of coinage as part of the Nation’s financial fabric. With regards to potential changes in metallic compositions, he mentioned that it is highly unlikely that the cost of minting and issuing the penny would ever fall below one cent. He stressed effective communication as the key to success in any coinage changes and discussed the recent meetings with stakeholders and solicitation of comments from the public.
No specific recommendations for changes to circulating coinage were suggested. This will likely remain the case until the delivery of the required biennial report to Congress this December.
Production totals by design for the America the Beautiful Quarters and Presidential Dollars programs appear below. These production totals should be considered preliminary until the close of the year. In a few instances, the US Mint has restarted production for certain designs based on demand and production capacity.
|2014 US Mint Coin Production by Design|
|Great Smoky Mountains||99.40 M||73.20 M||172.60 M|
|Shenandoah||197.80 M||112.80 M||310.60 M|
|Warren G. Harding||3.78 M||6.16 M||9.94 M|
|Calvin Coolidge||3.78 M||4.48 M||8.26 M|
|Herbert Hoover||3.78 M||4.48 M||8.26 M|
|Franklin D. Roosevelt||3.92 M||4.76 M||8.68 M|
As noted, a preliminary production total has been added for the 2014 Franklin D. Roosevelt Presidential Dollar with 3.92 million pieces struck at the Denver Mint and 4.76 million pieces struck at the Philadelphia Mint for an overall total of 8.68 million. These figure show slight gains compared to the prior two designs, but remain below the levels for the first design of the year honoring Warren G. Harding.