Article: US Mint 2010 Annual Coin Production Rises 79.6%, Mintages Near 6.4 Billion
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US Mint 2010 Annual Coin Production Rises 79.6%, Mintages Near 6.4 Billion
by CoinNews.net on January 10, 2011
US Mint annual coin production shot higher in 2010 after circulating coin mintages plunged to the lowest point in decades during the previous year.
2010 levels were still significantly lower than those from 2008, however, when the American recession began to earnestly kick-in and cut the demand for circulating change.
The United States Mint produced nearly 6.4 billion coins for circulation last year, marking an increase of more than 2.8 billion, or 79.6 percent, over the 3.548 billion coins minted in 2009.
Perhaps the biggest revelation for the year is the mintage drop for 2010 America the Beautiful Quarters® as compared to 2009 DC & US Territories Quarters. Coin production also declined for Kennedy Half Dollar and Presidential $1 coins, but those changes as well as the coins with gains are easier to quantify.
Production of smaller coins — the penny through quarter — is driven entirely by economic demand. While all coins suffered mintage declines in 2009, the US Mint stopped producing nickels and dimes for most of the year as the Federal Reserve did not place new orders for them. Their production figures fell to levels not seen in decades. It makes sense that those two denominations could be most affected when coinage demand picks up, as it did.
For several years, half dollars have not been placed into circulation but instead sold directly by the US Mint in rolls and bags to coin collectors. Ted Kennedy’s passing on August 25, 2009, drew worldwide attention to the Kennedy family history and collector demand for the 50c pieces increased slightly during the year as a result. In 2010, Kennedy Half Dollar production returned toward their 2008 level.
Dollar coins are more variable and their mintages are not strictly determined by transactional needs around the nation. For example, whether there is demand for them or not, current law requires that not less than 20% of the total number of $1 coins minted each year be Native American $1′s.
On a monthly basis, production in December was the slowest of the year. This is typical as the US Mint during the final month of any year is transitioning to produce newly dated inventory for the next year. As a larger example, the Mint reported no gains during December 2009.
More Here....
by CoinNews.net on January 10, 2011
US Mint annual coin production shot higher in 2010 after circulating coin mintages plunged to the lowest point in decades during the previous year.
2010 levels were still significantly lower than those from 2008, however, when the American recession began to earnestly kick-in and cut the demand for circulating change.
The United States Mint produced nearly 6.4 billion coins for circulation last year, marking an increase of more than 2.8 billion, or 79.6 percent, over the 3.548 billion coins minted in 2009.
Perhaps the biggest revelation for the year is the mintage drop for 2010 America the Beautiful Quarters® as compared to 2009 DC & US Territories Quarters. Coin production also declined for Kennedy Half Dollar and Presidential $1 coins, but those changes as well as the coins with gains are easier to quantify.
Production of smaller coins — the penny through quarter — is driven entirely by economic demand. While all coins suffered mintage declines in 2009, the US Mint stopped producing nickels and dimes for most of the year as the Federal Reserve did not place new orders for them. Their production figures fell to levels not seen in decades. It makes sense that those two denominations could be most affected when coinage demand picks up, as it did.
For several years, half dollars have not been placed into circulation but instead sold directly by the US Mint in rolls and bags to coin collectors. Ted Kennedy’s passing on August 25, 2009, drew worldwide attention to the Kennedy family history and collector demand for the 50c pieces increased slightly during the year as a result. In 2010, Kennedy Half Dollar production returned toward their 2008 level.
Dollar coins are more variable and their mintages are not strictly determined by transactional needs around the nation. For example, whether there is demand for them or not, current law requires that not less than 20% of the total number of $1 coins minted each year be Native American $1′s.
On a monthly basis, production in December was the slowest of the year. This is typical as the US Mint during the final month of any year is transitioning to produce newly dated inventory for the next year. As a larger example, the Mint reported no gains during December 2009.
More Here....
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Comments
Most companies would go bankrupt if they did that. Oh well run the presses a extra day next month to make it right.