US Mint Circulating Coin Production September 2011

New circulating coin production figures are available from the US Mint. During the month of September, there were 811.42 million coins struck at the Philadelphia and Denver Mints across all denominations.

The latest monthly total represents an increase from the previous month when 605.54 million coins were struck. It is also an increase from the year ago period of September 2010, when 690.02 million coins were struck.

A breakdown of production by denomination and mint facility is included below. The first number column represents the production for September 2011, while the second number column represents the total production for the year to date.

2011 US Mint Coin Production Figures
Sept 2011 YTD 2011
Lincoln Cent – Denver 316.40 M 1,924.14 M
Lincoln Cent – Phil. 222.40 M 1,878.40 M
Jefferson Nickel – Denver 58.80 M 422.88 M
Jefferson Nickel – Phil. 42.96 M 369.84 M
Roosevelt Dime – Denver 82.50 M 611.00 M
Roosevelt Dime – Phil. 43.00 M 601.00 M
Quarters – Denver 0 125.60 M
Quarters – Phil. 0 122.40 M
Kennedy Half – Denver 0 1.70 M
Kennedy Half – Phil. 0 1.75 M
Native Am Dollar – Denver 0 23.10 M
Native Am Dollar – Phil. 0 11.62 M
Pres Dollar – Denver 21.70 M 133.56 M
Pres Dollar – Phil. 23.66 M 134.96 M
Total 811.42 M 6,361.95 M

 

The three smallest denominations accounted for nearly all coin production for the month. There were 538.80 million cents, 101.76 million nickels, and 125.50 million dimes struck, which 94.4% of all production.

There were no quarters, half dollars, or Native American Dollars produced for the month.

The US Mint produced 45.36 million Presidential Dollars, which appear to be the start of production for the next design featuring James Garfield. Although there have been seven bills introduced in Congress seeking to abolish, suspend, or limit the production of Presidential Dollars, so far none of these bills have been voted on. There has been one bill introduced seeking to transition from paper $1 bills to $1 coins, which would likely result in much higher production for $1 coins. This bill has been referred to committee and has not been voted on.

The Mint has not provided any new or updated production figures by individual design. The previously released preliminary figures for the first four 2011 America the Beautiful Quarters designs and the first three 2011 Presidential Dollar designs are shown below.

2011 US Mint Coin Production by Design
Denver Phil. Total
Gettysburg Quarter 30.80 M 30.40 M 61.20 M
Glacier Quarter 31.20 M 30.40 M 61.60 M
Olympic Quarter 30.60 M 30.40 M 61.00 M
Vicksburg Quarter 33.40 M 30.80 M 64.20 M
Andrew Johnson Dollar 37.10 M 35.56 M 72.66 M
Ulysses S. Grant Dollar 37.94 M 38.08 M 76.02 M
Rutherford Hayes Dollar 36.82 M 37.66 M 74.48 M

 

Numismatic Gold Product Price Increase

After four consecutive price decreases, a price increase is possible for gold numismatic products this week. The four decreases on September 14, September 21, September 28, and October 5 brought prices lower by the equivalent of $250 per ounce of gold content.

The average market price of gold for the weekly period (excluding the Wednesday AM price) is within the $1,650 to $1,699.99 range. In the most likely scenario, as long as the Wednesday PM price is above $1,650 per ounce, then the price increase would take place. In the past, the US Mint has made pricing changes effective around mid-morning on Wednesday.

Gold products which would have their prices increased include the 2011 Proof Gold Eagles, 2011-W Uncirculated Gold Eagle, 2011 Proof Gold Buffalo, First Spouse Gold Coins, and 2011 commemorative gold coins.

The average market price for platinum seems likely to remain within the $1,450 to $1,549.99 range. As such, the price of the 2011 Proof Platinum Eagle should remain unchanged.

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Comments

  1. simon says

    For those of you who ordered the 5 Oz Gettysburg at the lower price, the USMint is shipping. I received my notice, and it is overnight – very nice work USMint! Thanks!

  2. VABEACHBUM says

    Hey Michael – I noticed that the NA dollar coins currently represent just over 12% of the total dollar coin production. Given the current numbers, if the Mint has any intentions of meeting the requirements of the Legislated 20% NA / Presidential mix, the Mint would have to double the output of the NA coins between now and Dec 15th while simultaneously halting any additional Presidential Dollar production.

    Will the Mint face any repercussions from anyone if it fails to compy with the 2006 law as it is written??

  3. Michael says

    I’ve been watching that ratio as well and mentioned in some past posts about coin production.

    The law does not provide any specific repercussions, it just states:

    QUANTITY.—The number of $1 coins minted and issued
    in a year with the Sacagawea-design on the obverse shall
    be not less than 20 percent of the total number of $1 coins
    minted and issued in such year.’’.

    I think that the US Mint may be waiting until the last moment possible to produce the required N.A. Dollars, just in case some of the pending legislation becomes law. Some bills specifically remove this requirement.

    The US Mint should have the production capacity to make up the shortfall, even if they wait until December.

  4. John says

    Checked my 5oz Gettysburg this morning…backordered until 10/26.

    Checked just now and appears to be shipping as well. Thanks simon.

    Definitely returning the first one that I get.

  5. RSF says

    Your logic on the Native American dollar is probably right, unless they are re-interpreting the meaning of the phrase “minted and issued” . The 34 million NA dollars may in fact be 20% of the dollars “issued”.

    This requirement of the law was at Senator Dorgan’s insistance. Since he’s no longer there, they may feel free to re-interpret without repercussions.

  6. Robertzon says

    The percent of total dollar coins produced (302.24 million) that are Native American dollars (34.72 million) is only 11.49%, not just over 12%.

    Not sure how VABEACHBUM calculated this ratio, but the total number of dollar coins has to also include the NA $1 total because the legislation states that “the Sacagawea-design on the obverse shall be not less than 20 percent of the TOTAL number of $1 coins minted and issued…” not the total number of presidential $1 coins. There is a difference.

  7. SunTzu says

    When is Eliza Johnson going to be pulled off the market? Any guess? I don’t see her reaching Julia Tyler’s mintage.

  8. VABEACHBUM says

    Thanks for the correction, Robertzon. Apparently, I completely missed that 51 hundredths of a percent while I was doing the math in my head. Then again, the Mint is content to round their production numbers to the nearest ten-thousand. However, I have to admit that your 0.51% is so very critical to reinforcing the actual point of my observation: according to these numbers, the current NA Coin output is only at 57.54% of the legislated 20% composition while 77.81% of the year has passed. Meanwhile, the on-going production of the Garfield coins will continue to drive down the NA percentage composition even further unless the Mint intends to produce the 42.46 percentage points of NA coins required by law in the 22.19% of the year that remains.

    The readers are looking for coin-related information, not your feedback on my math skills. At least take a moment to offer something relevant to the big picture discussion while you also focus unnecessary attention on the very minor problem with the supporting documentation. As of this week, the Mint isn’t close to the mark. What, if anything, happens when the don’t make it?

  9. Hidalgo says

    VABeachBum – tsk, tsk. As they say in the military, you gotta pay attention to details…. There’s no excuse for being imperfect… LOL! :o)

  10. GMS says

    Brings to mind another popular military slogan that seems to apply to the mint. Measure it with a micrometer, mark it with chalk and cut it with an axe.

  11. VABEACHBUM says

    Thanks for the perspective check, guy!! But as long time CONTRIBUTORS to the site, at least you understand where I’m coming from. Having previously lived the military life, the other thing we used to say while the lead was flying in the sand box: “We need the 90% solution now!! We can work out the other 10% after we get back to camp!!”

  12. Hidalgo says

    SunTzu – mintages for recent First Spouse coins are low by historical standards. Even if the US Mint fails to sell any additional Eliza Johnson coin, the demand just does not exist to make these coins valuable. Do you see folks wanting these coins in their collections 10 years from now? I seriously doubt that. Any U.S. coin depicting a living or deceased woman (e.g., Susan B. Anthony, Sacagawea, First Spouses, etc.) simply has not demanded much interest among collectors. WIthout the demand, prices have little basis for increasing. What good is a US coin with a mintage of 50 if no one in the world wants it? The low mintage coin would be worth, as a minimum, of its bullion value…. JMHO.

  13. DCDave says

    Gold Mint prices officially going up, but still risky buying any high priced PM items. Thinking of buying some more Mt. Hood, before they either sell out or raise prices again. Mt Hood is really the only item that is now being offered at a true discount, since the vast majority of them sold for higher prices.
    I really wish the Mint would come clean and explain pricing policy for silver products (maybe they just wing it every time?).

  14. Ikaika says

    Following up on Hidalgo’s comments: Should we also be concerned about the ATB series (bullion and numismatic)? The premiums for these are rapidly shrinking (e.g. 2010 series) as the numbers being sold. Seems like many are losing interest in the series. Will they end up selling for their silver content? I agree that the interest in the FS have faded, but the mintage is much lower than the ATBs. It might boil down to the price of gold and silver for these coins. I hope not, I have been buying the low mintage FS uncirculated version and also several 2010 ATB sets. Am I alone here?

  15. Broooster says

    Ikaika, once agian, people are comparing “collecting” to “investing” and guessing what something might be worth down the road. I for one am collecting the FS Proofs. Yes, some are ugly, and some not so much, but it is a series and I am doing my best to keep up with it. Will they be worth more than bullion down the road, I would hope so, but then again, I don’t really care at this point. These are part of my collection, and they look mighty good all layed out in front of your eyes. And besides, I can’t take them with me when I go, and we never know when our number will be called. So, collect or invest as you wish, and enjoy it while you can.

  16. Art says

    Please…….nobody else buy First Spouse coins or ATB’s so mine can be even more rare than they already are. Thank you for that low demand…………

  17. simon says

    My Gettysburg 5Oz came in. Nice coin. Something to watch for : the finish is slightly less frosty than the 2010 versions, and looks very-very nice.

  18. says

    Ikaika,

    The problem with the AtBs is that the initial bullion release, plus the hype from the low numbers of numismatic varieties minted, created a “bubble” problem for the releases. The Mint drastically underproduced and then overproduced, leading to a bubble collapse. There is a very small level of collector demand for these things, which is fairly consistent, since the coin collecting community is small to begin with. However, thanks to precious metals price increases and and overwhelming schedule of silver products by the Mint (presumably looking to cash in on the silver craze), collector budgets are being squeezed. What would you buy if you had to pick one – the 25th ASE anniversary set, the silver dragons, or an AtB numismatic release? The AtB will lose almost every time.

    On the other hand, investors don’t really seem to know about (or trust) these coins and just keeping buying the standard silver eagles. It’s clear from recent articles by Michael that the demand for silver bullion is still sky-high. Frankly, if one is looking to invest in physical silver, the AtB bullion coins are among the best products out there – premiums are extremely low. They even stayed fairly low when silver collapsed back in September while silver eagle premiums tended to be much higher.

    The program is recoverable, but the Mint will have to take some steps to do so.
    1. Reduce the flood of numismatic silver products
    2. Reduce the maximum mintages of the coins
    3. End the numismatic AtB program to increase support for the bullion AtB program.
    4, Start advertising the product

    That will probably help increase support for the bullion coins. Collectors will have more money to spend on the bullion coins (and won’t have to decide between AtB bullion and AtB numismatic) and sales might increase enough to make average investors take notice.

  19. Brad says

    October 27 will be a day when the nation’s employers will notice a significant number of workers calling in sick! I’ll be guilty of it!

  20. Ikaika says

    CaptainOverkill: One could not have explained any better. Let’s just hope the US Mint does take the suggested steps to save the ATB program. They are really nice and unique because of their size, which is a first in the history of US coins.

  21. Samuel says

    I am new , so correct me if I am wrong. I saw here that mint needs to publish the price at register or something, and that will take about 2 weeks based on the recent silver coin price reduction, so if they sell it on 27th, the price should be already fixed.

  22. Frank says

    @CaptainOverkill
    Well said about the AtB program. I just want to add one point:
    1. Release of bullion and numismatic versions at the same time frame.

    I believe if both versions were released in similar time frame, the drama in 2010 can be avoided even for a mintage of 27,000/33,000. When real collectors can get the coins at reasonable prices, it will be harder for the APs to squeeze the market. The market will be better off in the long run if collecting interest dominates the overall demands (rather than the flipping interests).

  23. John says

    I can’t wait for the 27th!

    I think that the 2010 ATB Bullion might out perform the “P” in the long run (20+ years). Yes the mintage was higher but there seems to be a lot of MS64 – MS68 and these will eventually be melted leaving only the small amount of MS69, MS69PL & the DMPL

    I flipped all my bullion sets and bought other silver offerings with the cash. I also decide to buy two Mt. Hood at the new lower price (hope I don’t get rejects as I anticipate flipping at least one). My ATB collection will only consist of designs that I like. I have been on the fence about Mt Hood “P” but the new price was a no brainer for me.

  24. says

    I am an investor, collector and flipper. I was happy to collect my one and only Lincoln Chronicles set…as one per household was the limit.

    If the 25th Anniversary set was limited to one per household, then I would be happy with my one set…as a collector.

    However, if the Mint opens the door to an opportunity (with a five per household limit) I will jump on it! I see this as a great opportunity to make a few bucks….just like the 20th Anniversary set did. Maybe you don’t need a few extra bucks, but I do.

    And really, I bet the majority of those (myself included) that was trying to buy the 2012 Dragon Type set were looking at another opportunity to make a few bucks.

    If I was never a collector of coins in the first place, I would never of also seen it as an investment opportunity.

    So, to me, collecting coins I like is my number one passion, but if I can also make some money…well, all the better!

  25. Rolling Thunder says

    A little offf topic – but if anyone wants 1/2 oz colored dragon they are showing as available on Perth Mint website – 1 per customer ~$62. + shipping.
    Better than paying a Big Ben to get a 1/2 oz colored dragon on the Bay as most coin/PM commercial dealers seem to be “sold out”

    If you order other coins (like three gilld dragons) to bring total over $300, then free shipping.

    Hope US Mint website doesn’t crash Oct 27th (most likely will just like Perth did on Dragon days) – I’ll only have 1st hour – then back to work! I hate the frustration – spend an hour or more trying, end up with nothing, & then see the big dealers listing them by the dozens with 2-4X markup! BUT YOU HAVE TO TRY!

  26. G says

    Waiting for the dragon coins to arrive. The 25th anniversary set is something new- so it should be interesting. Here’s what I like about coin collecting: you think you know, but you never know, and as long as you like it, you can’t go wrong.

  27. Piotr says

    Does anybody know if it would be worth it to grade that 25th Ann. Set? Or, keep it in a sealed box? I’m planning to buy all the allowance to hopefully get some return. I know it sounds like I’m a flipper but I need to finance my new hobby somehow, being the only source of income. I appreciate all you reading this and responding.

  28. says

    Frank,

    The reason I advocate ending the numismatic portion of the AtB program is so collector dollars will be driven into the bullion releases. My working assumption here is that the Mint’s primary interest is seeing the bullion program succeed. Given that it seems like there is a solid sales base of about 15,000-20,000 per AtB numismatic release (even if it takes awhile to get there), ending the numismatic program would send those collector dollars into the bullion. A bump in bullion sales might increase dealer support for the program, which would in turn result in more ad $$$ and more sales. You might also get an increase in collectors buying these, because they’re cheaper than the numismatic versions as well.

    Michael’s last article on the AtB bullion coins is here: http://news.coinupdate.com/slow-sales-continue-for-2011-america-the-beautiful-silver-bullion-coins/

    If 10K-20K numismatic buyers were to go into, say, the Vicksburg or Chickasaw releases, as you can see, that would be a major boost for both coins.

  29. VABEACHBUM says

    Piotr – Will it be worth grading the 25th Anny set? In the long term, I think the answer is yes. The advantage will be that 3 of the coins already available as single Mint products will be specifically designated as 25th Anny Set editions. Unfortunately, the TPGs already have been using a generic “25th Anniversary Silver Eagle” label on some of their slabs, but they started doing that before the Mint ever hinted that the Set was coming. I think we can expect the new labels to be radically different from those already in use. The two remaining coins, the R-PR coin and the “S” coin, are obvious 25th Anny Set Coins, and always will be labled as such.

    Keep in mind that if you want to get the entire 5-coin set designated and graded as a 25th Anny Set, then you will need to repackage and ship the unopened & originally sealed Mint package to the TPG. If you do not, the TPGs will assume you have picked the 3 “common” coins and they will not receive the designation. The one thing I do not know is what assurances you will have of the TPGs returning your Mint OGP and COA with your graded coins. Good luck with your endeavour!

  30. jimmy says

    basis for computing 25th anniversary set:

    1 pc of proof eagle —– $58.95
    1 pc of reverse proof — $ ???
    2 pc of unciruclated — $50.95 each.
    1 pc of bullion eagle — $34.00 plus

    i would said low end at $249.99 and high end at $299.99/set.

  31. John says

    @Samuel -“I am new , so correct me if I am wrong. I saw here that mint needs to publish the price at register or something, and that will take about 2 weeks based on the recent silver coin price reduction, so if they sell it on 27th, the price should be already fixed.”

    I am also new, but that was my understanding; however, I found the Federal Register online and kept checking for the ATB’s and Silver Eagles and never saw a price published for the most recent markdown on Oct 7. I did see some price changes published earlier in the year. Can anyone explain if there is truth in publishing ahead of time?

  32. Fosnock says

    Per Coinnews.net

    On Friday, October 7, the Mint lowered the price of the proof Eagle from $68.45 to $58.95 and cut the cost of the uncirculated Eagle from $60.45 to $50.95. Bullion Eagles are generally available for a few dollars over the current spot price of silver, which hovered around $32.50 on Wednesday. Based on these numbers, it would suggest that the anniversary set could be priced within a $250-$280 range.

  33. says

    A commenter posted awhile back saying that he’d spoken to several retailers who are all saying they are hearing from the Mint that price will be between $300-$350. Sorry guys, but those who are predicting prices under $299 are going to be disappointed. If we have another silver price collapse and fall to around $25 an ounce, we MAY get a price that low. Otherwise get ready to pay $315-$325.

  34. says

    The reverse proof, yes, and also an uncirculated silver eagle from San Francisco with (I believe) an S mintmark. The anniversary set will be the only place to get both of those coins. At least some of the extra premium charged on the set by the Mint will be justified by those rarities.

  35. Matt says

    I dunno about it;; But I will get myself a set.
    I bot the 2012 Dragon set too (much better valued imo @ 1500 sets)

  36. Samuel says

    Matt, How did you get the dragon typeset? I worked for 2 1/2 hours, and got nothing. You are in US or Aus?

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