During the first three months of the year, the United States Mint produced a total of 797.23 million coins for circulation. Production took place for cents, dimes, quarters, half dollars, and dollars. For the year to date, there have not been any nickels produced.
The largest number of coins minted were for the one cent denomination at 572.03 million, representing about 72% of the total. The new 2010 Lincoln Cent has been appearing in the channels of circulation since mid-January 2010. The reverse of the coins feature a new reverse design depicting the Union Shield to represent Lincoln’s preservation of the Union as a single and united country.
US Mint First Quarter 2010 Coin Production
|Cent||294.00 M||278.03 M||572.03 M|
|Nickel||0.00 M||0.00 M||0.00 M|
|Dime||0.00 M||19.00 M||19.00 M|
|Quarter||19.00 M||23.40 M||42.40 M|
|Half Dollar||1.70 M||1.80 M||3.50 M|
|Native American Dollar||14.00 M||32.06 M||46.06 M|
|Presidential Dollar||58.38 M||55.86 M||114.24 M|
|Total||387.08 M||410.15 M||797.23 M|
The quarter is off to a slow start with the the entire production of 42.4 million taking place only last month. The US Mint begins the new America the Beautiful Quarters series this year, but so far it is off to a slow start. The first quarter depicting Hot Springs National Park slated for release on April 19, 2010.
The figures for nickels and dimes will be closely watched throughout the rest of the year. For 2009, the US Mint had only produced 86.64 million nickels and 146 million dimes. These figures were a fraction of typical production, which ranges into the hundreds of millions or billions. The low mintages for the coins and the fragmented distribution led to some lofty prices for circulation strike 2009 nickels and dimes. The production of dimes seems likely to rebound this year, as the Federal Reserve is reported to have ordered 224 million dimes from the US Mint, although only 19 million have been produced so far. The status of the nickel will remain uncertain.
Circulating coin production levels are down compared to the first quarter of 2009 when the US Mint produced 1,197.88 million coins. The reduced output for the first quarter of this year can be traced to the lower number of nickels, dimes, and quarters produced. During the first quarter of 2009, the US Mint had produced 69.36 million nickels, 120 million dimes, and 211 million quarters. This compares to this year’s figures of zero, 19 million, and 42.4 million.
On an annualized basis, the US Mint is running about 10% below last year’s total annual production of 3,548 million coins.