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US Mint Produces 3.96 Billion Coins for Circulation in First Quarter

The US Mint produced 480 million Maya Angelou quarters for circulation

The United States Mint produced over 3.96 billion coins for circulation during the first quarter of 2022, for the highest first quarterly total since 2017 when over 4.2 billion were struck.

As for March, the US Mint pressed over 1.45 billion coins, marking the most since July, a quicker pace for a third month in a row, and posting increases of 15.3% from February and 28% from March 2021.

Here’s how the month compares against others in the past year:

March 2021 to March 2022 Circulating Coin Production

Month mintage rank
March 2022 1,452.58 m 3
February 2022 1,260.12M 6
Jan 2022 1,249.84m 7
December 2021 953.37 m 13
November 2021 1,104.7m 12
October 2021 1,213.86m 8th
Sep 2021 1,169.28m 10
Aug 2021 1,187.32m 9
July 2021 1,505.24 m 1
June 2021 1,348.60 m 4
May 2021 1,473.06m 2
April 2021 1,320.28m 5
March 2021 1,134.84m 11

The US Mint’s main mission is to manufacture coins based on the nation’s demand and transport them to Reserve Banks and their coin terminals for distribution into circulation.

The Federal Reserve orders more 1-cent coins from the US Mint than any other denomination even as data shows that it costs 2.1 cents to make and distribute each one. The Mint struck 780.4 million Lincoln cents in March, representing 53.7% of the circulating-quality coins produced last month.

Month-Over-Month

In month-over month comparisons for coins used daily by Americans, production totals in March saw:

  • 12.4% more Lincoln cents,
  • 12.8% fewer Jefferson nickels,
  • 37.4% more Roosevelt dimes, and
  • 19.4% more quarters.

Native American $1 coins are no longer ordered by the Federal Reserve, but they are still made in circulating quality for coin collectors. The same is true, or was until last year, for Kennedy half-dollars. Traditionally in January, the US Mint produces both denominations to the expected amounts needed for the entire year. That turned true in 2021 for Native American dollars, but not for halves which saw their mintage last year increase in February, March, April, May and August.

Published mintage of 2022 Native American dollars were unchanged in March, with equal splits of 980,000 from Denver and 980,000 from Philadelphia for a combined 1.96 million coins. In contrast, the 2021 dollar logged splits of 1.26 million for Denver and 1.26 million for Philadelphia for 2.52 million coins.

Mintage for the 2022 Kennedy half-dollar also remained unchanged from January. They stood at 1.6 million from Denver and 1.6 million from Philadelphia for a total of 3.2 million. Last year’s half-dollar ended with a mix of 7.7 million from Denver and 5.4 million from Philadelphia for a combined 13.1 million.

The US Mint started selling rolls, bags and boxes of 2022 Native American dollars on Feb. 9. Rolls and bags of 2022 Kennedy halves are scheduled for release on May 5.

Here’s a summary of all the circulating-quality coins produced last month:

US Mint Circulating Coin Production in March 2022

Denver Philadelphia Total
Lincoln cents 403,200,000 377,200,000 780,400,000
JeffersonNickel 68,880,000 55,200,000 124,080,000
Roosevelt dime 179,000,000 142,500,000 321,500,000
quarters 112,800,000 113,800,000 226,600,000
Kennedy Half Dollar 0 0 0
Native American $1 coin 0 0 0
Total 763,880,000 688,700,000 1,452,580,000

Minting facilities in Philadelphia and Denver are tasked with making all US coins for commerce. Last month, the Denver Mint made 763.88 million coins and the Philadelphia Mint made 688.7 million coins for the combined 1,452,580,000 coins.

First Quarter 2022

In the first quarter of 2022, the Denver Mint struck 2,083,600,000 coins and the Philadelphia Mint made 1,878,940,000 coins. They combine for a quarterly total of 3,962,540,000 coins, which is 23.2% more than the 3,217,760,000 coins minted in the first three months of last year.

This next table lists coin production totals by denomination and by US Mint facility:

YTD 2022 Circulating Coin Production by Denomination

10¢ 25¢ 50¢ NA $1 Total:
Denver 1166M 204.72M 404.5M 305.8M 1.6M .98M 2083.6M
Philadelphia 1056.4M 177.36M 353M 289.6M 1.6M .98M 1878.94M
Total 2222.4M 382.08M 757.5M 595.4M 3.2M 1.96M 3962.54M

If the current production pace stretched through to December, the annual mintage for 2022 would top 15.8 billion coins. The US Mint manufactured nearly 14.5 billion coins for circulation in 2021.

2022 Quarter Minutes

Lastly, in addition to the 2022 Native American dollar with its one-year-only design, the US Mint has released the first two issues from their four-year program of American Women Quarters™. Each features a unique design.

2022 Maya Angelou quarters began circulating in early January. (The Mint started selling collectible Maya Angelou quarters in rolls and bags on Feb. 7.) According to US Mint spokesman Michael White, the total mintage for the Maya Angelou quarters is 480 million.

2022 dr Sally Ride quarters began circulating toward the end of March. (The Mint started selling collectible Dr. Ride Sally Angelou quarters in rolls and bags on March 22.) White noted that the mintage for the Ride quarter had reached 109.4 million as of April 5.

Article Source : https://www.coinnews.net/2022/04/19/u-s-mint-produces-3-96-billion-coins-for-circulation-in-first-quarter/

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