Mint Production Hits Five-Month High
The U.S. Mint
The business of coins goes in several directions, not all of which directly benefit collectors. Circulation-strike production is important to the economy or the future of physical cash and, more indirectly, to collectors.
According to U.S. Mint manufacturing statistics released on February 28, January production was at a five-month high. The Mint struck 756 million cents, 5-cent coins, dimes, quarters, and half dollars during January, a nearly 400 percent increase from one month earlier. However, this is still 37 percent less than what was produced during January 2022.
The Mint might be striking fewer 2024 coins that were minted one year earlier, but the jury will be out on this statistic for another 11 months. Even if mintages decrease, will these numbers be sufficient for 2024 coins to have a significant premium in the future?
The 2024 half-dollar mintage figures should be watched closely. Statistics for early 2024 indicate 2.8 million were produced in Philadelphia, with an additional 2.9 million pieces in Denver in January. This is the highest mintage for half a dollar since 1983. The 2024 half-dollar might not have much of a premium later. Native American dollar production needs to be watched as well. Their mintage does not appear to be completed for the year; however, dollar coins are no longer being ordered by the Federal Reserve.
The interest in collector-oriented products, including mint and proof sets, commemoratives, and specially made American Eagle coins, continues to thrive, as can be seen by the unusually strong secondary market. In the past, many of these products sold for higher prices when purchased directly from the Mint, followed by a weaker after-market. Some 2023 collector-oriented products are currently challenging to find, even when someone is willing to pay a premium price.
What all this shows is that collector interest isn’t restricted to older coins
