In 2023, United States Mint data showed that the rate of producing coins for circulation continued to decrease for the third year in a row, with the annual output reaching its lowest point in more than a decade.
U.S. minting facilities shipped just over 11.38 billion coins to Federal Reserve Banks for circulation release during the calendar year, marking a drop of 16.4% from the 13.62 billion coins struck in 2022. The annual level was the lowest since 2012 when the U.S. Mint produced 9.34 billion coins for circulation.
US Mint Annual Coin Production (2023 vs 2022)
| Year 2022 | Year 2023 | 2023 Unit Gain / Loss | 2023 % Gain / Loss | |
|---|---|---|---|---|
| Cents | 6,359,600,000 | 4,522,800,000 | -1,836,800,000 | -28.9% |
| Nickels | 1,547,520,000 | 1,427,530,000 | -119,990,000 | -7.8% |
| Dimes | 3,134,000,000 | 2,705,500,000 | -428,500,000 | -13.7% |
| Quarters | 2,567,600,000 | 2,665,600,000 | 98,000,000 | 3.8% |
| Half Dollars | 9,700,000 | 58,000,000 | 48,300,000 | 497.9% |
| Native American $1 | 1,960,000 | 2,240,000 | 280,000 | 14.3% |
| Total | 13,620,380,000 | 11,381,670,000 | -2,238,710,000 | -16.4% |
The primary mission of the U.S. Mint is to manufacture coins in response to public demand. The Mint produces, sells, and subsequently delivers circulating coins to Federal Reserve Banks and their coin terminals to support their services to commercial banks and other financial institutions.
Minting facilities in Philadelphia and Denver are responsible for manufacturing all U.S. coins for commerce. In 2023, the Philadelphia Mint produced 5,731,670,000 coins, while the Denver Mint made 5,650,000,000 coins.
Mintage of 2023 Cents Lowest for Year Since 2010
Even though it costs the Mint 2.72 cents to make and distribute each 1-cent coin, the Federal Reserve always orders more of them than any other denomination.
Last year, more than 4.5 billion cents were struck, marking the lowest annual amount since 4 billion were minted in 2010. These cents account for 39.7% of the total combined coin production for 2023. In 2022, over 6.3 billion cents were struck, representing 46.7% of the combined production total. Going back another year, in 2021, the Mint manufactured over 7.9 billion cents for 54.6% of all coins minted for circulation. Historically, the year 2021 is the most typical in terms of the ratio of cents to overall production.
2023 Kennedy Half Dollar Mintage Highest Since 1983
In addition to cents, nickels, dimes, and quarters, the U.S. Mint also produces dollars and half dollars in circulating quality. While the Federal Reserve no longer orders Native American $1 coins, the U.S. Mint continues to make them in circulating quality for numismatic products sold to coin collectors. This practice was also true for Kennedy half dollars until recently, specifically starting in 2021.
Typically, in January, the U.S. Mint produces both denominations in the expected amounts needed for the entire year. However, this remains the case only for Native American dollars, as Kennedy halves saw their mintages increase in multiple months in 2021, 2022, and 2023.
In the fiscal years 2021 and 2022, the Federal Reserve unexpectedly ordered millions of Kennedy half dollars for circulation. They were also produced for general circulation in 2023, with the total struck increasing significantly: 13.19 million in November, 19.71 million in October, 6.3 million in September, 4.8 million in August, 3.2 million in July, 1.7 million in May, 2.5 million in April, 2.2 million in March, and 4.4 million in January.
In 2023, the combined total of halves at 58 million was the highest since 1983 when it reached 66.6 million. The mintages comprise 27.8 million from Denver and 30.2 million from Philadelphia. This is a significant increase compared to the 2022 production runs, which only totaled 4.9 million from Denver and 4.8 million from Philadelphia, resulting in a combined total of only 9.7 million coins.
Mintages of 2023 Native American $1 Coins
The mintages of 2023 Native American dollars remained unchanged since January, with equal splits of 1.12 million from the Denver Mint and 1.12 million from the Philadelphia Mint, for a combined total of 2.24 million coins. In contrast, the 2022 dollar recorded equal splits of 980,000 from each facility, for a total of 1.96 million coins.
2023 Quarter Mintages, Maria Tallchief Design Lowest
2023 was the second year for the U.S. Mint’s four-year series of quarters honoring the contributions of notable women who have shaped American history.
Honorees for the year include Bessie Coleman, Edith Kanakaʻole, Eleanor Roosevelt, Jovita Idar, and Maria Tallchief. Each features a unique design with:
- Bessie Coleman quarters entering circulating on Jan. 3, and on Feb. 14, the Mint offering rolls and bags of the quarter for purchase by the public.
- Edith Kanakaʻole quarters entering circulating on March 27 and were also made available in Mint rolls and bags on the same day.
- Eleanor Roosevelt quarters entering circulation and available in rolls and bags on June 6.
- Jovita Idar quarters entering circulating on Aug. 14 and were made available in rolls and bags on Aug. 15.
- Maria Tallchief quarters entering circulating on Oct. 19 and, on the same day, were made available in rolls and bags.
For the first time, Mint data revealed mintages for the 2023 Maria Tallchief quarter. They are the lowest in the series to date. Conversely, the 2023 Edith Kanaka’Ole quarter has the highest mintages in the series.
This next table shows all American Women quarter dollar mintages by production facility, denomination, and design.
2022 -2023 America Women Quarter Mintages
| Denver | Philadelphia | Total | |
|---|---|---|---|
| 2023 Bessie Coleman Quarter | 317,200,000 | 302,000,000 | 619,200,000 |
| 2023 Edith Kanaka’Ole Quarter | 368,600,000 | 372,800,000 | 741,400,000 |
| 2023 Eleanor Roosevelt Quarter | 271,800,000 | 284,000,000 | 555,800,000 |
| 2023 Jovita Idar Quarter | 188,000,000 | 190,600,000 | 378,600,000 |
| 2023 Maria Tallchief Quarter | 184,800,000 | 185,800,000 | 370,600,000 |
| 2022 Maya Angelou Quarter | 258,200,000 | 237,600,000 | 495,800,000 |
| 2022 Dr. Sally Ride Quarter | 278,000,000 | 275,200,000 | 553,200,000 |
| 2022 Wilma Mankiller Quarter | 296,800,000 | 310,000,000 | 606,800,000 |
| 2022 Nina Otero-Warren Quarter | 219,200,000 | 225,000,000 | 444,200,000 |
| 2022 Anna May Wong Quarter | 240,800,000 | 226,800,000 | 467,600,000 |
| Total | 6,889,880,000 | 6,730,500,000 | 13,620,380,000 |
This next table shows 2023 circulating coin mintages by production facility, denomination, and design.
2023 Circulating Production by Coin Design
| Denver | Philadelphia | Total | |
|---|---|---|---|
| Lincoln Cent | 2,260,800,000 | 2,262,000,000 | 4,522,800,000 |
| Jefferson Nickel | 734,880,000 | 692,650,000 | 1,427,530,000 |
| Roosevelt Dime | 1,295,000,000 | 1,410,500,000 | 2,705,500,000 |
| Bessie Coleman Quarter | 317,200,000 | 302,000,000 | 619,200,000 |
| Edith Kanaka’Ole Quarter | 368,600,000 | 372,800,000 | 741,400,000 |
| Eleanor Roosevelt Quarter | 271,800,000 | 284,000,000 | 555,800,000 |
| Jovita Idar Quarter | 188,000,000 | 190,600,000 | 378,600,000 |
| Maria Tallchief Quarter | 184,800,000 | 185,800,000 | 370,600,000 |
| Kennedy Half-Dollar | 27,800,000 | 30,200,000 | 58,000,000 |
| Native American $1 Coin | 1,120,000 | 1,120,000 | 2,240,000 |
| Total | 5,650,000,000 | 5,731,670,000 | 11,381,670,000 |
Coin Production in December 2023
Normally, December is a slower production month as the U.S. Mint adjusts their tooling for the upcoming year’s coins. That was certainly the case for December 2023 with its total of 151.8 million coins. It was a different story, however, for the three prior Decembers with production amounts of 846.5 million coins in December 2022, 953.37 million coins in December 2021, and 903.50 million coins in December 2020.
Still, December 2023 was a very slow month for coin production. More typical Decembers are represented in the years 2011 to 2019, for example, with their totals of 431.78 million, 245.34 million, 285.96 million, 878.84 million, 707.79 million, 696.68 million, 762.86 million, 560.64 million, and 400.88 million.
Here’s how the month ranks against others in the past year:
December 2022 to December 2023 Circulating Coin Production
| Month | Mintages | Rank |
|---|---|---|
| December | 151.8 M | 13 |
| November 2023 | 604.409 M | 10 |
| October 2023 | 501.911 M | 12 |
| September 2023 | 546.03 M | 11 |
| August 2023 | 1,030.38 M | 8 |
| July 2023 | 1,139.30 M | 6 |
| June 2023 | 1,297.18 M | 2 |
| May 2023 | 1,417.78 M | 1 |
| April 2023 | 1,250.32 M | 3 |
| March 2023 | 1,187.94 M | 5 |
| February 2023 | 1,054.16 M | 7 |
| January 2023 | 1,200.46 M | 4 |
| December 2022 | 846.50 M | 9 |
This last table shows a summary of all the circulating-quality coins produced last month:
U.S. Mint Circulating Coin Production in December 2023
| Denver | Philadelphia | Total | |
|---|---|---|---|
| Lincoln Cent | 20,800,000 | 60,000,000 | 80,800,000 |
| Jefferson Nickel | 0 | 0 | 0 |
| Roosevelt Dime | 9,000,000 | 0 | 9,000,000 |
| Quarters | 30,000,000 | 32,000,000 | 62,000,000 |
| Kennedy Half-Dollar | 0 | 0 | 0 |
| Native American $1 Coin | 0 | 0 | 0 |
| Total | 59,800,000 | 92,000,000 | 151,800,000 |
With so many halves, you’d think they’d be easy to find. It’s hard to get trillions in the hole when you stamp out change, gotta get that paper money flowing, kill that Brazilian rain forest, sell that BLM (bureau of land management, not the biden voters… sorry) and federal park land to the tree cutters. And fonit quick before that climate change loudspeaker that set those 14 fires in Canada gets to them.
29% fewer cents than in the prior year. see? the world didn’t end, they can make a lot less and we will get by. it is still nearly half of the coins put out by the mint each year, and nobody really uses them. time for a 99.9% reduction (the remaining 0.1% can be for collector issues much like the half dollar and dollar coins are now)