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 Replies: 12 / Views: 1,195 |
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Valued Member
United States
58 Posts |
I've spent the last two days looking for the answer to this question and finally decided to post. I've poured through old threads and visited other web sites and as soon as I think that I am getting close to an answer; NOTHING. How does the US Mint determine the amount of coins that they produce for each denomination for circulation? No proofs or commeratives. The Statehood Quarters are an example. It seems that all quarters produced for each year all have the same mintage when produced in San Francisco, but not Denver or Philedelphia. And why are coins not produced as an even number for circulation? It seems like you'd have a hard to trying to distribute 4,020,083 2000S Maryland quarters evenly into rolls. My fiance said that I'm driving her nuts with this so maybe someone can help. Help!
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Bedrock of the Community
United States
12437 Posts |
There really is no set formula for determining how many coins will be minted each year. It is partially dependent on demand for a particular denomination but it mainly comes down to how many the Mint and the press operators can actually crank out. The reason for the mintage of all San Francisco coins being the same is simple- they are only produced for annual proof sets. All of the S-minted coins for a year will only be found in a proof set, they are never released in rolls.
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Pillar of the Community
United States
2443 Posts |
quote:
t seems like you'd have a hard to trying to distribute 4,020,083 2000S Maryland quarters evenly into rolls.
I think the way they get there numbers is that they know they have set aside X amount of money to produce a certain quarter. Then they just factor in how many they can make with that number, so that's how they get the uneven numbers?  |
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Pillar of the Community
United States
1151 Posts |
To decide they "Flip a coin" !  Not all coins are rolled, so therefore no need for an even number. Coins can be in bulk, singles, rolls, or put into sets. Good question though. |
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Pillar of the Community
United States
1173 Posts |
I would suppose the mint has a pretty good idea of the numbers of coins of each denomination they need to produce each year. The managers look at available resources at each mint, and assign them to produce a particular fraction of the needed coins.
The mint scrupulously counts and records all coins minted. Auditors are kind of picky about things like that. Just remember...the number of coins minted and the number of coins released into circulation are not necessarily the same thing, or even close. It depends on the popularity of the coin, demand, etc.
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Valued Member
United States
112 Posts |
I think that the government has to have accurate records and a fairly close idea of how many coins should be minted each year. They also keep track of how many are destroyed each year. I also think that it would screw up the economy and cause global disaters if we had too much money floating around; course it certainly doesn't float near me...
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Bedrock of the Community
United States
20753 Posts |
I would go along with the flip of a coin idea. Of course there is the possibility that the Mint workers just say "any one need overtime?" and if so they make a few more coins. I think they just keep on making coins as long as they have a job so the amount depends on if they get layed off or fired.  |
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Valued Member
United States
306 Posts |
Anyone else pay attention to what gonefishin said? "They also keep track of how many are destroyed." So why don't we see those figures in the Red Book? |
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Member
United States
3242 Posts |
Give the person a brake it sound like hes new to coin collecting at we not here to help each other out Edited by amac44
09/10/2007 10:20 am
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Valued Member
 United States
58 Posts |
I think that I will write the US Mint because no even sets are minted when they are not produced in SAN FRAN. I thought that US Mint seperated the amount of coins that they listed for circulation as opposed to those for proof sets. In the intro of the Red Book , they say that the mintages are seperated from proof to circulation. Why would the mint print an uneven amount of proof sets? But why are the mintages from Denver and Philly not the same and uneven? If the US Mint responds with an email, I will post the response. |
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Bedrock of the Community
United States
14454 Posts |
as was said above the S mint only produces "Proof" coins Denver and Philadelphia only mint "Circulation" coins. P&D coins can go into Mint Sets, rolls you get at the bank, and the P&D rolls from the mint, and just about any other way including but not limited to the 1000 coin bags. The S minted coins only go into "Proof Sets" and never are supposed to be for circulation they are minted for collectors only, They usually have a pre-set number of Proof coins that will be minted but they can mint ever how many circulating coins that they can mint within the period before they are supposed to change the design, there is no pre-set number of coins for circulating coins
Edited by Bryan1315
09/10/2007 12:47 pm
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Bedrock of the Community
United States
20753 Posts |
I think that I will write the US Mint because no even sets are minted when they are not produced in SAN FRAN. I thought that US Mint seperated the amount of coins that they listed for circulation as opposed to those for proof sets. In the intro of the Red Book , they say that the mintages are seperated from proof to circulation. Why would the mint print an uneven amount of proof sets? But why are the mintages from Denver and Philly not the same and uneven? If the US Mint responds with an email, I will post the response. It is very obvious you have not attempted to contact the government about anything previously. Please do and let us know your results. I suspect that the governments answering of any and all questions have been outsourced to India, similar to AOL and HP. You should get an answer that is completely unrelated to your question and after a few hundred attempts, you to will join the rest of us. |
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Bedrock of the Community
United States
17884 Posts |
The mint may very well produce an even number of proof sets, say 1,000,000. But they can't control how many sets get ordered. If they receive orders fro 937,746 sets that is how many they send out and the rest are eventually destroyed leaving a mintage for each of the S mint coins of 937,746. Not a nice round number. (You also have to consider that with several presses striking the coins it can be hard to stop at an exact even number and you may find that with all the little overages you may be able to put together 1,000,037 sets or some such number even though you were shooting for an even million.) The business strike coins are a different matter. Each mint produces some stockpile of coins on hand. The Federal Reserve then places probably weekly orders so many thousands of dollars worth of each type of coin for each Federal Reserve branch bank and the Mint ships them out from which ever mint is closer or has enough in their stockpile. (generally they ship from the closer mint but if their stockpile is low they may ship from the other mint.) And the mints continue striking to replenish the stockpiles. Now those branch banks are scattered evenly, demand isn't distributed evenly and so the drawdown of the stockpiles isn't even either. This means that the mints will produce different amounts of coins. And since the mints business strike presses run at 750 coins per minute and they have multiple presses running, it is also impossible for them to stop at exactly even numbers of coins as well. Plus even if they did you would hen have to subtract the number of spoiled or rejected coins from that total, again leaving you with an odd number. How do they handle the odd number when bags and rolls have even numbers of coins? The first Ballistic Bag of the year has coins from both years in it. |
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Posted 09/09/2007 4:52 pm
