How many times does the "average" coin change hands?

relayer

In the last 50 years, how many times do you think the average coin has changed hands?

Edit - By "average" use the median (the mid point between a coin that never changes hands and one that changes daily)

LucyBop

and how many of those people washed their hands?

ER

<< <i>In the last 50 years, how many times do you think the average coin has changed hands? >>


Define "average".

BAJJERFAN

Well I had a 92-cc PCGS63 Morgan that I got offa eBay. Sold it to another board member here from the East coast who eventually put it back up on eBay where it sold again. As luck would have it I spotted the coin in a dealer's case at Central States in Milwaukee. So thats at least 4 know owners in about 3 months. I think I had close to a grand in it and the last price I saw was $1600.

cladking

Excluding cents circulating coinage probably changes hand about every twelve or fourteen
days on average. Quarters have the highest velocity and dimes are lowest. Coins make a
lot of trips to the banks now days and go through the counters a lot. At any given time there
will usually be about 5% of the coins sitting at the fed or mint with many of these being new
coin struck in the last three years.

tjkillian

<< <i>

<< <i>In the last 50 years, how many times do you think the average coin has changed hands? >>

Define "average". >>



"Average" has a technical definition of "take all the coin in circulation, and divide by the total number of hand changes of coins" If there are 100 coins produced in the past 50 years and they changed hands 100,000 times, the average would 1000 changes per coin.



Tom

Hedger

Dollars 0 times/day
Half Dollars 1 time/day
Quarters 20 times/day
Dimes 5 times/day
Nickels 10 times/day
Cents 1,000,000,000,005 times/year