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Fillmore continues slow decline

The first final mintage total for a 2010 dollar coin issue is out. The Millard Fillmore coin, which was introduced to the public in February, continues the slow slide in dollar mintage totals.

I do mean “slow” slide.

The 74,480,000 number that came out of the Denver and Philadelphia mints combined is just 3,780,000 coins lower than the last design struck in 2009.

There is a fairly even split between the two mints. Philadelphia’s 37,520,000 pieces outpaced Denver’s 36,960,000 contribution.

Obviously, the Mint continues to stride to fulfill a public demand that does not really exist at such high levels.

Perhaps someday the public will be glad the coins exist and happily begin to use them as the late 1990s saw the final drawdown of the Anthony dollar supply overhang and a new 1999 coinage struck after a lapse of 28 years.

Or perhaps the Mint will build up such a supply that there will be a Treasury Presidential dollar coin release in 50 or 100 years that will excite the collectors of the future with pristine issues from the early 21st century.

What’s your take on such a large mintage number?

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4 Responses to Fillmore continues slow decline

  1. Brad says:

    My take is that the number is obviously too high. I thought your recent prediction of 5 million coins was a little too low, though. I seriously thought the Mint would pull back more sharply on the first three 2010 Presidential Dollar designs, so they could mass-produce the Lincoln dollar without increasing the total number of Presidential Dollars that would have been minted in 2010 anyway. It looks like there are other plans instead.

    By the way, the lapse in SBA Dollars was only 18 years, from 1981 to 1999.

  2. Mark says:

    The only way it makes sense for so many coins to have been minted is that there is a plan to discontinue the use of paper one dollar bills. Otherwise, at a cost of about 10 cents to mint each coin, the mint wasted millions of dollars of taxpayer money.

  3. The Mint has to do something because they have not laid off anyone since the slowdown. The US Mint has produced 40-percent fewer coins between FY08 and FY09 but paid 1.1-percent more in labor! Base metal prices have risen moderately–in line with inflation. The difference is the labor costs.

    What the US Mint does not say is that they are preserving jobs and acting as a stimulus package–particularly in Philadelphia and Denver–to keep workers employed in this economic environment.

    According to the US Mint’s Annual report, it cost 30-cents to create the one dollar coin. There is no "wasted" taxpayer dollars. The Mint is funded on its own profits and not taxpayer money.

  4. Sean says:

    I think that this high mintage, like Mark said above, is to prepare for the phasing out of the paper dollar. It would make more sense to phase it because from what I hear the paper dollar lasts only a couple of years in circulation, whereas a dollar coin would last 30 years. I mean if it would save money why not do it? I don’t think so many people would lose much sleep about, and if they do, they’ll get over it. I would like spending dollar coins. A lot of country’s have eliminated their lowest denomination note, and seem to be getting on fine. I would also like to see use of the half dollar increase to. I use cash a lot more often and it seems like quarters just start to build up. I sometimes wish that I had received half dollars in change so that there wouldn’t be so many quarters and change jangling in my pocket. I’m in favor of phasing out the paper dollar.

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