• seperator

Cent output the champ of 2010

Production of the 2010 Union Shield cent passed the 3 billion mark in the month of September.

The tally of 3,185,230,000 pieces is roughly one month’s production away from exceeding the Mint’s entire output of all coin denominations in 2009 when coin production fell to 3.548 billion pieces, a pale shadow of the year 2000’s output of over 25 billion pieces.

Though nobody but collectors seem to respect the cent these days, the fact that demand from the economy is rising is a good sign.

The denomination has been called a one-shot coin. The Mint strikes it. Merchants give it out in change. It then goes home and sits in private accumulations for months or years on end. The more transactions there are, the greater the need for cents. A growing economy generates the need for additional cents.

Though coin counting machines placed in retail establishments have reduced this effect, they have not eliminated it.

Cent  production comprises over 63 percent of the roughly 5 billion coins struck in 2010.

Quarter production continues to be anemic. Just 5.8 million pieces were coined in Denver in September and even fewer – 5 million pieces – tumbled off the presses in Philadelphia.

Anybody who shops with cash these days often is treated to the full array of state quarter designs in their change. I just received a blazing BU New York from 2001. I also received a surprisingly worn Mississippi piece of 2002.

Huge output for the state program is now acting to dampen demand for new quarters.

This entry was posted in Buzz. Bookmark the permalink.

3 Responses to Cent output the champ of 2010

  1. Chris says:

    I agree with your observation regarding the proliferation of state quarters in cash transactions! Last week however, I received four Bicentennial quarters in four different transactions. Hadn’t seen one of those in quite a long time. One of them appeared as though it had been in someone’s sock drawer since 1977-it was in superb condition!

  2. Jerome Curtis Watts says:

    I remember a Numismatic News article back in about 2004 that said 75% of the savings of state quarters would come back into the BANKING SYSTEM. That article gave me pause. I had been going to the bank and getting original wrapped rolls and saving them for "retirement". I looked at the bid prices in the Coin Dealer Newsletter and saw that most were selling for about $11/roll. The bank tellers were unhappy with me…but I took in about $5,000 worth of quarters and turned that into my main source of funds for 2004 (bullion) platinum eagles. That being said, I am savings each one of the bright and shiny new 2010 Shield cents I find. I guess it’s hard to teach an old dog new tricks. Maybe I should be going to the local coin dealer and buying 90% silver coins instead???

  3. Vachon says:

    The totals for the Hot Springs quarter have risen. Did the mint actually strike new coins for a quarter design that had already passed? I know the site says that the totals are preliminary until January 2011, but it would appear to be setting a bad precedent.

Leave a Reply