One Billion coins per month - where are they all going ?
1630Boston
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U.S. Mint Strikes 976.82 Million Coins for Circulation in September
by MIKE UNSER on OCTOBER 4, 2018 · 2 COMMENTS
2018 coins for circulation - cents, nickels, dimes, quarter
U.S. Mint production facilities in Philadelphia and Denver made 976.82 million coins in September
The pace of producing United States coins for circulation picked up in September after slowing to an eight-month low in August but it ran slower than a year earlier, according to manufacturing figures published today, Oct. 4, by the U.S. Mint.
Nearly 977 million in cents, nickels, dimes, and quarters were pressed for circulation last month, lifting the year-to-date production total to more than 10.1 billion coins.
September 2017 to September 2018 Circulating Coin Production
Month Mintages
September 2018 976.82 M
August 2018 831.56 M
July 2018 1,403.16 M
June 2018 1,198.34 M
May 2018 1,291.76 M
April 2018 878.74 M
March 2018 902.924 M
February 2018 1,066.51 M
January 2018 1,601.54 M
December 2017 762.86 M
November 2017 1,346.26 M
October 2017 1,423.54 M
September 2017 1,316.22 M
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Comments
I am not sure, but I dig a lot on the beach.
But, I am sure I miss a few
BHNC #203
The vault storage at The U.S. Mint, the Federal Reserve Banks, and large commercial banks must be getting rather full.
Zinc cents are a rather perishable product too, when compared to our other coins.
Pennys per square foot is a lot cheaper that parquet flooring per square foot
Steve
But they don't look as good in the kitchen.
That's only 36 per person per year, right?
bob
I'm bad with a calculator when I have to chop-off some zeros to make it work.
One billion coins per month, let's see....
All of the errors and "double dies" show up here on the forum, and then the remaining 100 million go into circulation.
Pennies virtually evaporate in air.
To understand real coins look at a handful of dimes or quarters. You'll see about 55% of the oldest dimes and 50% of the oldest quarters are missing, lost to the ravages of time.
It's not as obvious with dimes that get less circulation but if you look at the quarters you'll see the old quarters are all getting pretty light and thin. They are wearing away in slow motion right before our eyes. As they get thinner and lighter they are more likely to be lost or removed from circulation for destruction. The longer in circulation the more likely to acquire damage or corrosion which can get them destroyed by the FED.
The rate at which coins are being destroyed has been continually increasing as more world coins become demonetized, obsolete, worn, or inflated away to being essentially worthless. Billions are recycled inadvertently as with recycled cars or intentionally because they have been withdrawn.
The total number of coins in existence made since WW II is holding relatively stable as the 20th century coins disappear and are replaced by new coins.
Scrooge McDuck recently completed a major expansion of his Money Bin. I'm fairly certain that's where most of the newly minted coins are going.
Maybe overseas ???
As I recall, back in 1999 and 2000, the
US Mint(s) struck between 22 and 24 billion coins,
about double the numbers of the past 10-15 years or
so.....different economy/payment systems then and now.
Some, of all denominations, wind up in coffee cans; like the three in my kitchen!
If they were actually worth what they were in the 1920s it would be a more important question.
whoa!!!
You just saved me a ton of money.
"Inspiration exists, but it has to find you working" Pablo Picasso
I do my part every year 5- box's of cents and 5 box's of nickels. I look at it as a little put away for a rainy day.
Hoard the keys.
Seems to me that I recall Coin Star returned so many coins to circulation that the mint cut back it's production.
That and different payment methods for sure - I almost never use cash anymore unless I'm paying off a golf bet and they don't take Paypal.
I asked a similar question a while back. No great insights were provided if I recall correctly. But that mintage is only about 3 coins per person per month to add to their piggy bank.
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I have heard (and have no data to prove this) that more coins are lost (i.e. ground, cars, cushions etc) than are in circulation. Read this quite a few years ago when I was doing a lot of metal detecting. No idea if it was based on any factual study. Cheers, RickO
If everyone has a penny jar with a few hundred pieces, that is about 100 billion cents right there.
Behind the seat cushions of Ubers
ANA 50 year/Life Member (now "Emeritus")
Cash is used way less every year so it seem we would need less coins in circulation. Still easy to find coins that are over 50 years old so they don't seem to wear out too fast.
I don't know where they go......Someone should at least be able to come up with a good conspiracy theory.
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