The United States Mint has announced that circulating coin production at its Philadelphia and Denver facilities are temporarily converting from two-shift to three-shift operations to accommodate an increase in production requirements. The Philadelphia and Denver Mints are the two facilities that produce the nation’s circulating coins.
The United States Mint manufactures new coins to supplement Federal Reserve Bank coin inventories. Each month the Federal Reserve places orders for new coins and provides the Mint with a forecast for the next 12 months. The Mint uses this forecast to adjust its manufacturing plan. The Mint expects to deliver over 14 billion new coins this year in response to the Federal Reserve coin forecast. To keep pace with this forecast, Mint leadership determined there was a need to go to a three-shift operation at Philadelphia and Denver.
Converting to three-shift operations will require the Mint to hire additional personnel at both facilities. It is anticipated 46 personnel will be hired in Philadelphia while approximately 40 will be hired in Denver. The conversion to three-shift operations is expected to be completed in the mid-June to July timeframe.
Through the end of April 2015, the United States Mint reported 5.9 billion circulating coins struck at the Philadelphia and Denver Mint facilities for the current year to date.