Coin production in the United States saw a notable increase in October 2024, marking the fourth consecutive month of growth. The U.S. Mint produced 826.6 million coins, the highest total since August 2023, when coin production surpassed 1 billion. Despite this surge, the Mint has still recorded its 14th consecutive month of production falling below that threshold, following an earlier streak of eight months above it.
In October, the Mint’s production included cents, dimes, quarters, and half dollars, with the overall total reflecting a significant 70.1% increase from September and a 64.7% rise compared to October 2023. Dime production resumed after a three-month pause, although nickel production remained absent for the fourth consecutive month, and it was the sixth such month this year.
Here’s how October 2024 coin production compares to other months over the past year:
Circulating Coin Production in October 2024
- October 2024: 826.6 million coins (Rank 1)
- September 2024: 486.0 million coins (Rank 6)
- August 2024: 405.2 million coins (Rank 7)
- July 2024: 235.2 million coins (Rank 11)
- June 2024: 168.2 million coins (Rank 12)
- May 2024: 396.1 million coins (Rank 8)
- April 2024: 368.2 million coins (Rank 10)
- March 2024: 332.7 million coins (Rank 9)
- February 2024: 644.9 million coins (Rank 3)
- January 2024: 756.0 million coins (Rank 2)
- December 2023: 151.8 million coins (Rank 13)
- November 2023: 604.4 million coins (Rank 4)
- October 2023: 501.9 million coins (Rank 5)
Mint’s Mission and Coin Production Insights
The U.S. Mint’s primary responsibility is to manufacture coins in response to public demand. The Mint produces, sells, and delivers these circulating coins to Federal Reserve Banks, which then supply them to commercial banks and other financial institutions.
Despite the high cost of minting 1-cent coins (3.07 cents per coin), the Federal Reserve consistently orders more pennies than any other denomination. In October, 528 million Lincoln cents were produced, accounting for 63.9% of all circulating coins minted that month. This total was the highest since May 2023, representing a 57.1% increase over September.
Quarter production remained steady at 150 million, while the production of Native American $1 coins and Kennedy half dollars was lower. The Mint has been manufacturing Kennedy half dollars due to unexpected orders from the Federal Reserve, but it remains unclear whether additional Kennedy halves have been made for general circulation in 2024.
U.S. Mint Circulating Coin Production in October 2024 by Facility
Denver Mint:
- Lincoln Cent: 220 million
- Dime: 44 million
- Quarters: 75 million
- Kennedy Half Dollar: 3.2 million
Philadelphia Mint:
- Lincoln Cent: 308 million
- Dime: 99 million
- Quarters: 75 million
- Kennedy Half Dollar: 2.4 million
Total:
- Lincoln Cent: 528 million
- Dime: 143 million
- Quarters: 150 million
- Kennedy Half Dollar: 5.6 million
Year-to-Date (YTD) Coin Production Totals
By October, the total production from both mints reached 4.62 billion coins, a 56.5% decrease from the same period in 2023. This marks the slowest production start in the past decade. If the pace continues, the 2024 annual total is projected to reach approximately 5.5 billion coins, compared to 11.38 billion coins in 2023, the lowest output since 2012.
2024 Coin Designs and Production Highlights
The U.S. Mint has also been rolling out new coin designs. For instance, the Celia Cruz quarter was released in August, with a combined mintage of 305.8 million coins from both Denver and Philadelphia. Meanwhile, the Zitkala-Ša quarter, released in October, has minted 155 million coins to date.
2024 Coin Production by Denomination (Year-to-Date)
| Denomination | Denver | Philadelphia | Total |
|---|---|---|---|
| 1¢ | 1.31B | 1.32B | 2.63B |
| 5¢ | 32.88M | 36.72M | 69.6M |
| 10¢ | 182M | 191.5M | 373.5M |
| 25¢ | 766M | 747M | 1.51B |
| 50¢ | 14.8M | 12.3M | 27.1M |
| Native Am. $1 | 1.12M | 1.12M | 2.24M |
| Total | 2.31B | 2.31B | 4.62B |
As of now, the Mint continues to produce coins in response to demand, while focusing on new designs and minting strategies for both circulation and collector coins.
