In September 2024, the U.S. Mint produced 486 million coins for circulation. This includes 150 million quarters. Coin production has increased for three consecutive months. However, it has been below 1 billion coins for the past thirteen months, marking a significant drop compared to last year.
Increase in Production
In September, the Mint struck 486 million coins, all of which were cents and quarters. There were no nickels or dimes produced for the third month in a row. This marks the fifth time this year that no nickels or dimes have been minted. The total coin production in September represents a 19.9% increase compared to August but an 11% decrease compared to September 2023.
Monthly Coin Production Comparison
Month | Mintages (in millions) | Rank |
---|---|---|
September 2024 | 486.00 | 6 |
August 2024 | 405.20 | 7 |
July 2024 | 235.20 | 11 |
June 2024 | 168.22 | 12 |
May 2024 | 396.08 | 8 |
April 2024 | 368.20 | 10 |
March 2024 | 332.70 | 9 |
February 2024 | 644.86 | 2 |
January 2024 | 755.98 | 1 |
December 2023 | 151.80 | 13 |
November 2023 | 604.409 | 3 |
October 2023 | 501.911 | 5 |
September 2023 | 546.03 | 4 |
Types of Coins Produced
The U.S. Mint’s main goal is to create coins that meet public demand. The Mint produces and sells coins to Federal Reserve Banks, which then distribute them to commercial banks.
In September, the Mint produced 336 million Lincoln cents, which is about 69.1% of all the coins minted that month. This was a 32.1% increase from August.
Here’s a breakdown of the coins produced in September:
U.S. Mint Circulating Coin Production in September 2024
Denomination | Denver Mint | Philadelphia Mint | Total |
---|---|---|---|
Lincoln Cent | 224,000,000 | 112,000,000 | 336,000,000 |
Jefferson Nickel | 0 | 0 | 0 |
Roosevelt Dime | 0 | 0 | 0 |
Quarters | 100,000,000 | 50,000,000 | 150,000,000 |
Kennedy Half-Dollar | 0 | 0 | 0 |
Native American $1 Coin | 0 | 0 | 0 |
Total | 324,000,000 | 162,000,000 | 486,000,000 |
Kennedy Half Dollars and Native American Dollars
The U.S. Mint also creates other coins, including half dollars and dollars. Native American $1 coins are no longer ordered by the Federal Reserve but are still produced for collectors. The same applies to Kennedy half dollars, which have seen changes in production numbers in recent years.
For 2024, it has not been confirmed if Kennedy half dollars have been produced for general circulation. Here are the production numbers for Kennedy half dollars over the last few months:
Month | Kennedy Half-Dollars Produced |
---|---|
January | 5.7 million |
March | 1.9 million |
April | 2.6 million |
May | 3.2 million |
June | 4.9 million |
July | 3.2 million |
Total | 21.5 million |
Year-to-Date Production
So far in 2024, the Denver Mint has produced 1,966,200,000 coins, and the Philadelphia Mint has made 1,826,240,000 coins. This brings the total to 3,792,440,000 coins, which is the lowest number for the first nine months since 2011. This total is 62.5% fewer than the 10,123,600,000 coins produced in the same period in 2023.
If the production pace continues, the total for 2024 could reach 5 billion coins. In contrast, the U.S. Mint produced over 11.38 billion coins in 2023, the lowest output since 2012.
YTD 2024 Circulating Coin Production by Denomination
Denomination | Denver | Philadelphia | Total |
---|---|---|---|
1 ¢ | 1,091.6M | 1,014M | 2,105.6M |
5 ¢ | 32.88M | 36.72M | 69.6M |
10 ¢ | 138M | 92.5M | 230.5M |
25 ¢ | 691M | 672M | 1,363M |
50 ¢ | 11.6M | 9.9M | 21.5M |
N.A. $1 | 1.12M | 1.12M | 2.24M |
Total | 1,966.2M | 1,826.24M | 3,792.44M |
Conclusion
The U.S. Mint continues to adjust its production based on public demand and needs. Although production has increased in recent months, it still remains lower than in previous years. The majority of coins produced this year are cents and quarters, while other denominations like nickels and dimes have been neglected. As the year progresses, it will be interesting to see how the Mint adapts to changing demand and whether it can meet the needs of the public more effectively.
FAQs
Why did the U.S. Mint produce fewer coins in recent months?
The U.S. Mint has been producing fewer coins primarily due to decreased public demand for physical currency.
What types of coins were produced in September 2024?
In September 2024, the U.S. Mint produced 486 million coins, which included 336 million Lincoln cents and 150 million quarters.
How does the U.S. Mint determine how many coins to produce?
The U.S. Mint assesses public demand for coins based on orders from Federal Reserve Banks.
What was the total coin production for the year 2024 so far?
As of September 2024, the U.S. Mint has produced a total of 3,792,440,000 coins.