In July, the U.S. Mint ramped up coin production after a slow June, though the total still remained significantly below the 1 billion mark for the eleventh consecutive month. The Mint produced 235.2 million coins in July, marking a 39.8% increase from June, but a sharp 79.4% decline compared to the same month in 2023. Notably, there was no production of nickels or dimes during the month.
Here’s a comparison of U.S. Mint circulation coin production over the past year:
Circulating Coin Production (July 2023 – July 2024):
| Month | Production (millions) | Rank |
|---|---|---|
| July 2024 | 235.20 | 11 |
| June 2024 | 168.22 | 12 |
| May 2024 | 396.08 | 8 |
| April 2024 | 368.20 | 10 |
| March 2024 | 332.70 | 9 |
| February 2024 | 644.86 | 4 |
| January 2024 | 755.98 | 3 |
| December 2023 | 151.80 | 13 |
| November 2023 | 604.41 | 5 |
| October 2023 | 501.91 | 7 |
| September 2023 | 546.03 | 6 |
| August 2023 | 1,030.38 | 2 |
| July 2023 | 1,139.30 | 1 |
The U.S. Mint’s primary responsibility is to produce coins based on public demand, which are then distributed to Federal Reserve Banks and used in commercial transactions. Despite the fact that manufacturing a penny costs 3.07 cents, the Mint produced 82 million Lincoln cents in July, making up nearly 35% of the coins struck for circulation that month. This was particularly significant given that no cents were minted in June, a rare occurrence.
Production of other coins showed mixed results. While quarters saw a slight 3.3% increase from June, no nickels or dimes were produced again. Kennedy half dollar production increased, reaching a total of 21.5 million coins for July, up from the 58 million minted in 2023. However, the Mint has not disclosed whether additional Kennedy half dollars were made for general circulation in 2024.
Additionally, the Mint has continued producing Native American $1 coins, although these are no longer ordered in large quantities by the Federal Reserve. Production of the 2024 coins remained steady, with a total of 2.24 million Native American dollars produced across both minting facilities in Philadelphia and Denver.
Here’s a breakdown of July 2024 coin production:
July 2024 Coin Production by Denomination:
| Denomination | Denver Mint | Philadelphia Mint | Total |
|---|---|---|---|
| Lincoln Cent | 40,000,000 | 42,000,000 | 82,000,000 |
| Jefferson Nickel | 0 | 0 | 0 |
| Roosevelt Dime | 0 | 0 | 0 |
| Quarters | 73,200,000 | 76,800,000 | 150,000,000 |
| Kennedy Half Dollar | 3,200,000 | 0 | 3,200,000 |
| Native American $1 | 0 | 0 | 0 |
| Total | 116,400,000 | 118,800,000 | 235,200,000 |
For the year to date, the Mint’s production totals are notably lower than last year, with 2.9 billion coins minted by July, a decrease of 66.1% from the 8.5 billion coins produced in the same period in 2023. If this pace continues, 2024’s total production will fall short of 5 billion coins—marking a dramatic decline from 2023’s 11.38 billion coins, the lowest total since 2012.
Here’s a breakdown of year-to-date (YTD) production by denomination and facility:
YTD Circulating Coin Production (2024)
| Denomination | Denver Mint | Philadelphia Mint | Total |
|---|---|---|---|
| Lincoln Cent | 780,400,000 | 734,800,000 | 1,515,200,000 |
| Jefferson Nickel | 32,880,000 | 36,720,000 | 69,600,000 |
| Roosevelt Dime | 138,000,000 | 92,500,000 | 230,500,000 |
| Rev. Dr. Pauli Murray Quarter | 185,800,000 | 168,400,000 | 354,200,000 |
| Patsy Takemoto Mink Quarter | 187,200,000 | 210,200,000 | 397,400,000 |
| Dr. Mary Edwards Walker Quarter | 159,400,000 | 141,200,000 | 300,600,000 |
| Kennedy Half Dollar | 11,600,000 | 9,900,000 | 21,500,000 |
| Native American $1 | 1,120,000 | 1,120,000 | 2,240,000 |
| Total | 1,496,400,000 | 1,394,840,000 | 2,891,240,000 |
In 2024, the production of the Dr. Mary Edwards Walker quarter, which entered circulation in June, has had the lowest mintage to date in the American Women Quarters™ series, totaling 300.6 million. This marks the least-produced coin in the series so far. Additionally, the U.S. Mint has released the Celia Cruz quarter, which began circulation in August, but no production numbers have been finalized yet.
The Mint’s production figures for the year continue to reflect a steady decline in circulating coin output, as 2024 struggles to reach the levels seen in previous years.
